Buyers are asking: Are there less buyers during the holiday? Should I get out and look?
Hello,
Im Sarah Arlington with Rooster Homes, your trusted advisor when it comes to the Los Angeles Real Estate Market.
Now-- Let's dive into this one.
First there are a few things to consider
#1 We are still in a sellers market with inventory averaging around:
2.2 months in North East LA Area
3.3 months in West LA Area
2.8 Month in the Valley Area
Remember, 6-7 months of inventory is a balanced market!
However, there is also seasonality to consider, which brings me to #2
#2 Real Estate Seasonality
Real estate seasonality refers to the patterns and trends in the real estate market that occur at different times of the year. These patterns can affect various aspects of the real estate market, such as the demand for homes, the number of homes for sale, and the prices of homes.
Seasonality in the real estate market can be influenced by a variety of factors, including weather, market conditions, and economic trends. In general, the real estate market tends to be more active during certain times of the year, such as the spring and summer months, when there is typically an increase in demand for homes. This can result in a higher number of homes being sold and an increase in home prices.
Conversely, the real estate market can be slower during other times of the year, such as the fall and winter months, when there is typically a decrease in demand for homes. This can result in fewer homes being sold and a decrease in home prices.
SO, are there less buyers and should I get out there right now and look for a home?
Yes, buyers may be able to gain an advantage during slower buying seasons in the real estate market. During these times, there may be fewer buyers competing for homes, which can give buyers more negotiating power and the opportunity to secure a better deal.
Here are a few ways that buyers can gain an advantage during slower buying seasons:
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Take advantage of lower prices: During slower buying seasons, home prices may be lower due to decreased demand. This can provide an opportunity for buyers to negotiate for a better price on the home they want. *Depending on the area and days on market.
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Have more options: With fewer buyers in the market, there may be a larger selection of homes to choose from. This can give buyers the opportunity to be more selective and find a home that meets their needs and preferences.
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Less competition: With fewer buyers competing for homes, buyers may have an easier time making offers and securing a property. This can save time and reduce stress, as there is less competition for the same homes.
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More flexible sellers: During slower buying seasons, sellers may be more motivated to sell and may be more flexible on price and other terms of the sale. This can provide buyers with more negotiating power and the opportunity to secure a better deal.
Overall, slower buying seasons can provide buyers with an advantage by giving them more options, lower prices, and less competition. By taking advantage of these factors, buyers may be able to secure a better deal on the home they want.
For more questions and to get support this holiday season, reach out, we are here to help 😊
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