When Is the Best Time of Year to Buy a Home in the Greater Philadelphia Area?

Many people assume that the best time to buy a home is in the spring, but this isn’t always the case. In fact, if you look at the facts, numbers, and statistics, there are two days of the year that will give you a significant advantage as a buyer. If you’re smart about it, you can buy your dream home for a steal.

The Spring Misconception

As soon as the leaves start to bud on the trees in the early spring, it seems as if “For Sale” signs start going up. The spring real estate market is indeed a flurry of activity, but it’s not really beneficial for the buyers. You’ll likely be bidding against others on homes, and the amount of competition for those homes is unreal. All of that competition means a lot of frustration, and it may even mean that you’ll end up paying more for a home than what it’s really worth due to the number of people bidding on it.

The Exception to the Rule

There is one day during the springtime months that it is in a buyer’s best interest to make the plunge – and believe it or not, that’s Easter Day. Of course, while it might be a bit difficult to get an offer in on a Sunday (and on a national holiday), it is certainly possible. In fact, there are numerous reports of buyers who have contacted the listing agent who just happened to be the seller, too, and bidding on Easter. Because everyone else was at church or spending time with family, there was no competition and the bid was accepted. Offers came rolling in the following day, but by then, the homes were already sold.

The Winter Misconception

Another common misconception about the best time to buy a home in Pennsylvania has to do with the fact that people just don’t want to sell their homes in the winter. While it’s true that the number of new homes hitting the market during the winter months does decline somewhat, there are still empty homes – and those homes aren’t selling because people just aren’t looking. In fact, it’s the best time of year overall to buy a home, especially if you want a great price.

The Most Wonderful Time of the Year

According to numbers and statistics, the time around Christmas is by far the best time of the year to buy a home in Pennsylvania – and almost anywhere else in the country. People feel generous and giving, and they’re more likely to give your lower offer a second look. Home prices are typically at their lowest in December, and if there’s a home on the market during Christmas, the seller is very serious and motivated. Competition is low, prices are low, and people are happy, so there’s no better time to buy.

As you can see, buying a home during the springtime real estate boom isn’t always the best option. Sure, there are more homes on the market, but there’s also more competition for those homes. That means you might pay more. Statistically, the best times of the year for buyers are Easter and the week around Christmas. They give you better opportunities with less competition, which means a better deal for you.