The Fall market in real estate is often portrayed as a pale cousin to the famous Spring market which gets so much press. The oncoming holiday season and winter weather seem to threaten a precipitous end to the buying season and the buyers are alleged to disappear with the cold. Many feel that the holidays are a fabled “dead zone” for those trying to sell a home as well. But perhaps, there is more to the story. The real truth is that the Fall market is actually a great market for buying a home or selling a home in the Greater Boston Area and here are the reasons we think this is the case:
The shorter time frame
The shorter time frame ( September to Mid-November) makes for a more motivated market. Sellers are lectured by realtors everywhere that the shorter season means pricing their property well in order to sell in a more focused period of time. Buyers are cautioned with the limited inventory that he who hesitates may not find a house to buy.
Let's take a look at the numbers
In Arlington MA during 2014 we can see how the Spring and Fall markets stack up. In the Spring of 2014, March, April and May, 165 single family homes were sold in Arlington. In that time period, the average sale price was $673,834 with an average marketing time of 23 days. ( from the Multiple Listing Service)
During the Fall of the same year, September, October and November, 82 single family homes were sold in Arlington MA. At that time, the average sale $652,362 price was with an average marketing time of 23 days! ( from the Multiple Listing Service)
Tips for buying a home in Arlington MA and other towns this fall:
While one year of statistics does not make for a complete proof, it seems that the Fall market can, at least in some years, stand up to the supposedly stronger market of the Spring. This Fall looks to be a great time to buy a home in Arlington MA and communities throughout the greater Boston area. Take a look at the properties that sold in the Spring and compare those asking prices with those on the market currently. While there may not be as many listings to compare, with interest rates low and mild weather, perhaps this Fall will feel like Spring in the Greater Boston Real Estate market!
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