When is the best time to buy a home?
We’re often asked what time of year is the best time to buy a home?
The short answer is when the time is right for you, or when you find the right place. Why? Timing the market is difficult. All seasons have their advantages and disadvantages, plus overall market changes can overtake seasonal effects.
What can you expect based on the seasons?
Winter // In the Winter, generally there are fewer homes for sale with listings slowly starting to build up towards the Spring. Because of this, there are often less buyers looking, which means less competition, though more limited selection of homes.
Spring // Many buyers and sellers target the Spring market, this means more choice and selection, but also often the most competition in the year.
Summer // Depending on the Spring, the Summer market usually remains active with new listings and rising inventories through July, with a lull in August and an uptick in September. Often buyers with families will try to buy and close before the start of the new school year, so around the end of June, beginning of July will see the most competition from other buyers.
Fall // Generally listing inventories rise through October, and then start to decrease into December when many sellers who have not been successful start to take their homes off the market for the Holidays. Often buyers in the Fall will try to close before the Holidays or into the New Year, so you’ll face the most competition into the end of October.
The takeaway? Seasonal changes to listings (supply) are often offset by changes to buyers (demand). Plus, as mentioned, overall market changes can overtake these seasonal effects. You can find out what's happening with North and West Vancouver listings and sales on our site here >>.
See what's available and get daily alerts of new listings so you never miss a home at the links below.
Want to discuss the current market?
When the time is right for you, we’re here to help, with proven results since 1979. Contact us at the form below or call us at 604-983-2518