Did you know that Nashville home sale prices—the amount which home buyers actually pay—can fluctuate with the seasons? If you’re deciding when to take the home ownership plunge, you might naturally let the school year or your apartment lease dictate when to buy, but that might not be the most informed home-buying gameplan.
Summer is Expensive, But There’s Lots of Homes for Sale on the Market
Summer is the most expensive time to buy, with prices peaking in June and July. There’s also the most inventory during that time, so if you’re looking for a very specific type of house—a unicorn of a home—summer might be your best bet.
If you’re buying or selling a home in the winter, chances are the house in question is looking a bit differently than it will in the full bloom of summer. For buyers, make sure you request photos of homes in order to see what might be covered up by snow, or to see what the surrounding foliage has to offer in later seasons. For sellers, make sure to offer photos of how beautiful your home can look in the summer and fall.
Fall Listing Prices Don’t Change Much, But Sale Prices Do
If you’re looking at listings in the Autumn months, you aren’t likely to see any major change from summer costs—an article NerdWallet found less than a half a percent drop in listing prices.
But the promising thing, for buyers, is that sale prices do fall in the fall, suggesting that there are still deals to be had—fewer buyers are shopping then, so homes stay on the market longer and that makes sellers more willing to negotiate or settle. And the reduction in autumn sale prices could mean major money in your pocket as a buyer: “In the 50 metro areas, home sale prices dropped 2.96% on average—that’s a drop of $8,300 on the median home—from summer (June through August) to fall (September through November).”
