I’m often asked, When is the best time to buy? This is not exactly an easy question to answer for someone else and the real truth is – when you need to move … you will often know when the time is right. People move for all sorts of reasons; A new job, relocation, separation, downsizing when the kids move out, or up-sizing with a growing family.
Our market in Victoria has two main seasons. Typically, we have a Spring market and a Fall market. Those are the two biggest peaks with activity each year. In Spring we see lot’s of listings and lot’s of activity with sales, come Fall it picks up again but usually it’s not as hectic or busy in competing with other buyers (like in Spring).
So what about Summer?
Well given that we are right into Summer now, usually what happens is activity falls off a bit. Most people are thinking summer vacations, and holidays with the warm weather. The flip side of this also puts forward a bit of an opportunity for buyers, giving you a bit less competition and more time to view properties without that pressure.
Most clients I help in summer, often focus on Fall possession, this is ideal especially if you have kids and they are starting at a new school come September. Most transactions take a couple of months to close, so keep in mind when an offer is made and then accepted, the normal timeline would be to take possession (move in) a few months later.
I hope this is helpful, and if you have any questions reach out – I’m happy to talk … and … Enjoy your Summer!