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When is the Best Time to Buy a Home?

It depends!

If you are looking for the chance to catch a deal  – now is the very best time to buy!

Suburban buyers often time their purchases to the school calendar with an August move-in date as the deadline.  Cold weather and the holiday season further distracts buyers so fewer are out shopping to begin with.  Showing activity goes way down and sellers feel nervous (see chart below).  For a seller who needs to sell or has been on the market for a long time, the thought of waiting it out for the spring market can make them much more negotiable NOW.

If you are looking for the largest selection, then early spring is your best bet.

Sellers prepare through the winter, spend their last holiday season in their home and then are ready to list in the spring.  Sometimes as early as February!  If you are out and about as a buyer in the spring, you will see the greatest number of homes hit the market and have many from which to choose.  Of course, be ready to act fast since there will be stiff competition from all of the other buyers seeking their dream home!

For example, below is the buyer contract activity, by month, for Wilmette.  This gives you an idea of when the fewest buyers are writing contracts, as well as when it is busiest.

I have also included charts showing the number of homes by month and average showings per home by month.

If you are curious about any other community, email me at Lisa@LisaFinks.com and I will send you a report for whatever communit(ies) you need.

Buyer Contracts by Month:

Homes on the Market:

Average Showings per Home (fewer showings make Sellers nervous):

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Merging their individual knowledge, resources and expertise, Lisa Finks, Lourdes Arencibia & Carolyn Duris offer their real estate clients superior advocacy skills and exceptional results.

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Lisa Finks, Lourdes Arencibia & Carolyn Duris, 565 Lincoln Ave, Winnetka, IL (847) 778-0540 info@northshoreaddress.com

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© 2019 Lisa Finks, Compass Real Estate. All Rights Reserved.

LISA FINKS, LOURDES ARENCIBIA & CAROLYN DURIS ARE REAL ESTATE AGENTS AFFILIATED WITH COMPASS, A LICENSED REAL ESTATE BROKER WITH A PRINCIPAL OFFICE IN CHICAGO, IL, AND ABIDE BY ALL APPLICABLE EQUAL HOUSING OPPORTUNITY LAWS. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. INFORMATION IS COMPILED FROM SOURCES DEEMED RELIABLE BUT IS SUBJECT TO ERRORS, OMISSIONS, CHANGES IN PRICE, CONDITION, SALE, OR WITHDRAWAL WITHOUT NOTICE. NO STATEMENT IS MADE AS TO ACCURACY OF ANY DESCRIPTION. ALL MEASUREMENTS AND SQUARE FOOTAGES ARE APPROXIMATE. THIS IS NOT INTENDED TO SOLICIT PROPERTY ALREADY LISTED. NOTHING HEREIN SHALL BE CONSTRUED AS LEGAL, ACCOUNTING OR OTHER PROFESSIONAL ADVICE OUTSIDE THE REALM OF REAL ESTATE BROKERAGE.