Why the First Week of October is the Best Time to Buy a Home 2024

by The Zack Grimmer Group, Powered by Real

Why the First Week of October is the Best Time to Buy a Home 2024

As we embrace for the crisp air of autumn in October, many potential homebuyers wonder when's the "best time to buy a home". According to insights from Realtor.com, the week of September 29 to October 5, 2024, stands out as a prime opportunity for home buyers.

Let's dive into why this specific week could be your golden ticket to buying a home in 2024.

Benefits of Buying During October

High Inventory:

During this week, home listings are plentiful. Sellers who listed in the summer hoping for a quick sale might still be on the market, increasing your options and improving your chances of finding the right home.

Working with your REALTOR to find homes that may be sitting longer or have a higher Days on Market number, could help you get an edge on negotiating.

Lower Prices:

Real estate sales data shows that home prices tend to be below their peak during this early autumn window. Sellers are adjusting to fewer summer buyers and may be more motivated to negotiate, offering you a better deal.

When a home sits on the market for an extended period of time, many home Sellers will reduce the price. You should work with your REALTOR to be notified of these right away, as it will kick it back to the top of the listings sites. Being the first to know can give you a leg up on your home buying journey.

Slower Real Estate Market Pace:

Post-summer months, the real estate market generally slows down, providing you with time. This slower pace means less home buyer competition and more time to make well-considered decisions—perfect for thorough home evaluations and negotiations.

Local Market Variances:

While these trends are notable on a national level, local markets can vary significantly. For personalized advice and insights into how these trends apply to your area, reaching out to a local REALTOR is crucial.

Looking for a local REALTOR? The Zack Grimmer Group, Powered by Real, is licensed in PA, NJ, MD & FL. If you're shopping for a home in another state, no worries, we have strong national relationships with vetted REALTORS. Click HERE to connect with a local REALTOR.

If the first week of October doesn’t work for your home buying needs, don't worry. The following two weeks in October also provide excellent home buying opportunities, albeit with slightly decreased activity. Preparation is key, so consider getting your financial documentation in order, understanding your must-haves in a home, and starting discussions with a mortgage advisor.

Planning your home buying journey in October 2024

The first week of October offers a unique opportunity to buy a home with less hassle and potentially at a better price. Mark your calendars for September 29 to October 5, 2024, and prepare to make a move during this optimal home buying time. Ready to take advantage of this prime buying opportunity?

Contact The Zack Grimmer Group, Powered by Real, to learn more about what's happening in your local housing market and to begin your home search with an experienced REALTOR by your side.

The Zack Grimmer Group, Powered by Real, is a Residential & Commercial Real Estate Team that was founded in 2021 by Zachary ‘Zack’ Grimmer. We assist our clients who are looking to BUY, RENT, SELL or INVEST in real estate throughout Pennsylvania, New Jersey, Florida and Maryland! We are tech-enabled and data-driven, giving our team the necessary tools to successfully broker real estate in any market. Our mission is to provide white-glove service to our clients and investors. Browse our website at www.ZackGrimmerGroup.com to learn more about all the real estate services we offer to our community.

Please feel free to contact us at admin@ZackGrimmerGroup.com or (215) 667-0239 or follow us on Facebook & Instagram, to learn more.

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