One of the most common questions we get as Nashville area REALTORS® is “When is the best time to buy a house?” We understand that homebuyers want and need the best real estate listing possible for the best price possible. However, there is no one single rule for finding that perfect home listing. Many factors contribute to when people list their houses for sale: job transfers, life changes, etc. That means that incredible listings become available every day in the Nashville area. So, rather than have one specific time to buy a house, let’s look at the pros and cons of each season:
Buying a house in the Spring
Spring has long been a popular time for both buying and selling houses in Nashville. Longer daylight hours and warmer weather provide the best possible conditions for house hunting; beautiful natural light and blooming landscaping make homes particularly enticing this time of year. Many home sellers wait out the winter months to list in the Spring, which means that inventory is generally higher as well.
However, a downside to all of this can be the price. Since there are also more home buyers in the Spring, the seller may be able to ask for a higher price. Another con is that with increased competition, a home could be snatched up quickly by another interested buyer before you’ve had time to make an offer.
Buying a house in the Summer
Summer is the second most popular time to sell a house in Nashville, which also makes it busy for buying a house in Nashville. Families often wait through spring before listing their property in order to let kids finish out the school year. In the earlier part of summer, this also when a house will look it’s best, with all landscaping and yards in peak condition. For a home buyer looking to move into a neighborhood, this is often the ideal time as it’s easier to meet new neighbors and adjust to a new area during the long summer days.
Just like spring, the downside to buying a house in the summer will be competition and price. Chances are, most families would like to be settled in prior to school starting in the fall and are more likely to pay premium prices for that opportunity. If a bidding war sounds too stressful, perhaps summer isn’t the right time for you to buy a house.
Buying a house in the Fall
The fall can be an excellent time to buy a house in Nashville. With the increased inventory from spring and summer, there may be many home buying options still left on the market. For families who wanted to leave before the new school year started, they may be more willing to negotiate now on price. Buying in the fall also means getting year end tax breaks, as well as moving during a more moderate climate. Nashville is known for having particularly beautiful weather in the fall.
The biggest downside for buying a house in the fall can be timing. Trying to relocate family once a new school year has started can be difficult. This is also the time of year when inventory starts slowing down so fewer options are available.
Buying a house in the Winter
Looking at real estate in the winter can be a fantastic opportunity for Nashville home buyers. Home sellers are likely to negotiate now more than ever, as fewer buyers are in the market. The absolute best possible time to get the best possible price? Try just before the holidays.
Since the winter months tend to be long, cold and barren, houses don’t look their best this time of year, which means inventory is generally at it’s lowest in Nashville. Harsh weather and busy holidays can also make moving in the winter extra stressful for families. However, the winter of 2013 was a good one for real estate in Nashville, which just goes to show that there are no hard and fast rules when it comes to which is the best time of year for buying a home.
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