The first half of 2021 was extremely challenging for buyers.
You had to compete against multiple offers typically above list price, the inventory was lower than ever, and many homes sold in just a few days.
If you have lost out a few times, you may have concluded that buying a house in this sizzling sellers’ market is not for you.
I hope you did not give up, because the best time to buy a home this year is just around the corner.
The Market has Normalized
The market has changed over the summer. We no longer see homes selling in just a day. Offers are less generous and often below list price.
According to Realtor.com, the best week to buy a house in Columbus starts on October 3rd.
They analyzed the following metrics for the 50 largest metros in the US for 2018 and 2019 (2020 was omitted due to the pandemic):
- listing prices
- inventory levels
- new “fresh” listings
- time on market
- homebuyer demand (realtor.com views per property), and
- price reductions.
They compared the weekly values to the average, and calculated a combined score. The week with the highest score was designated as the best time to buy.
Why Buy between October 3rd and 9th?
In Columbus, there are typically 21% more active listings during the week of Oct 3 – 9 compared to an average week. At the same time, the property views on realtor.com are 34% lower.
This means buyers face 34% less competition than during a typical week while enjoying a better selection due to higher inventory.
You can read details of the methodology, the impact of the other metrics, and a complete listing of all 50 Metro Areas here.
How Can You Capitalize When the Clock is Ticking?
The best way to take advantage of the “best week to buy” is to act:
Make sure you get pre-approved by a lender (I can give you a list of the best mortgage lenders we work with on a regular basis).
Define exactly what you look for in a house (feel free to use my Home Criteria Sheet).
Search for homes on my website or let me help you search directly on the MLS. Point out your favorite listings and let’s schedule showings!
Don’t wait – Oct 3rd is just around the corner! Call or Text me TODAY at (614) 975-9650!