Boston is one of the hottest real estate markets in the United States, and home prices can be steep. However, if you're a homebuyer looking to get the best deal, there are a few months each year when you're more likely to find it. Here are 3 reasons why August, November, and December are the best months to buy a home in Boston.
Less competition: Spring is traditionally the peak season for home buying and selling, and Boston is no exception. With fewer buyers in the market in August, November, and December, you may have an easier time negotiating a lower price or better terms on the home you want.
Motivated sellers: Due to the fact that it’s the “slow season,” if a seller puts their home on the market during this time of year, it can mean they are quite motivated to actually sell and open to negotiation. This can result in more flexible prices and faster closing times for buyers. Additionally, some sellers may be more willing to negotiate on price or make other concessions to close the deal before the end of the year for tax purposes.
Holiday bonuses: Many employers give out bonuses at the end of the year, which can provide a boost of cash for homebuyers to put towards their down payment or closing costs, which can result in significant savings for homebuyers.
However, there is a downside to all of this. Buying in these months also means you are typically shopping housing inventory “leftovers” as most seller’s will ideally sell when the market is at it’s peak.
So when will you have the most amount of options to choose from? In the spring, typically between March and May. You will certainly be paying a premium when shopping during this time of year, however, you will ave significantly more options to choose from when shopping.
So it’s a bit of a “you win some, so you lose” situation, whichever time you decide to shop.