Our upcoming holiday shopping season will be filled with days like Prime Day, Black Friday and even Cyber Monday, but what about getting real estate on sale? Is that even a thing? People stand in line for hours to get a good deal on a Keurig, imagine if you could do the same for a nice Farmhouse! Well we are about to let you in on a little secret… You can!

Prices Have Dropped!

The average residential home price has dropped nearly $20,000 since the end of last month! That can go a long way in helping with higher interest rates. No this isn’t the bottom dropping out of the market. There are always ups and downs in prices and typically this time of year (fall/winter) we see a little less buyer competition on the market. In a market that is struggling for home inventory, less buyer competition can be a massive opportunity for buyers. How do we know this isn’t a crash happening?

Not a Crash?

As you can see in the graph above, there are constant shifts in home prices in every market. A common one of these is the seasonal shift we see around this time every year. Spring and summer are the big selling seasons so fall and winter become opportunity months for buyers. You can see these mirrored dips above during this time of year almost annually for every market.

Conclusion

Buyers - take advantage of this less competitive season and get the most home for your buck before the spring starts another frenzy. Sellers - Don’t worry!  These are just averages. You need to make sure you aren’t the average house selling with an average agent. Hire a professional that can make sure your home stands out and markets it to maximum exposure. The best houses with the best agents are still selling for top dollar!