Many homebuyers prefer to move in the summer, but they’ll pay much more on average than if they bought a house in the fall or the winter.

Summer is typically the most expensive time to buy.  Buyers find the largest number of home choices during April, May, June and July but home sales prices – the amount a buyer actually pays – typically peak during these months because there is also more competition from other buyers.   This past spring and summer offered a strong seller’s market in the greater Lansing area with homes receiving multiple offers within only a few days of being listed – often above the asking price.  In a such a competitive seller’s market buyers are paying top dollar for the convenience of a summer purchase.

Sale prices fall in autumn. Home listing prices don’t fall dramatically once summer ends, but sale prices take a noticeable dip.  With fewer buyers shopping for homes during the months of September through December, sellers are less likely to be looking at multiple offers and are more willing to consider offers below the asking price.

Home sale prices are usually lowest in winter.  Statistics indicate that buyers shopping in January or February tend to save the most on the purchase price of a home.  Once spring arrives, prices and inventory begin to build up again.