My area of expertise is Boise, Idaho and like many cities our winter months affect real estate inventory and values. Even in a sellers market, buyings can negotiate a lower price in the winter months. The reasons are overwelming: less buyers, sellers motivated by longer days on market, cold conditons keep even good buyers on the sidelines.
Several times I have sold a home in November-January and the market value had increased by June. With more buyers looking in the summer months, there are less homes available and Sellers can see more buyers looking at their homes. Any families with school children drive this aspect of the market timing affecting sales prices.
My advice for any investor or homeowner who wants to start investing is to purchase property with the best price per square foot in the winter months.
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I am a full service REALTOR who specializes in single family, 4 plex's and investments. Closed over 95 properties since joining RE/MAX. I give each client my highest attention. I love referrals.
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Scott, interesting points. I hadn't really looked at the increased value, but it is true, sellers are more likely to negotiate in the winter months.
It's kind of like purchasing a car on Christmas eve or New Years eve you would be amazed the deals you can get on those days, because no one is out shopping for a car but they still want them off their lot ;)
Yes, Buying at the end of the month even has advantages. Buyers usually ask for 30 days to close and that allows Sellers to figure one more payment to be their last. This motivation is an excellent tool for negotiating a lower price for your Buyers.