Archive for August, 2018

Top Questions Answered: When Is the Best Time to Buy Real Estate in Punta Gorda?

Wednesday, August 15th, 2018

Summer or winter? It’s hard to say in Punta Gorda.

By: Adrienne Andreae

As a buyer’s agent at the Andreae Group, I field this question almost daily. Is it better to buy in the summer or winter in Punta Gorda?

Before I can answer that question, I’d like to dispel the common myth that nobody buys Florida real estate in the summer.

In fact, I have had years where my August sales rivaled my March numbers. Home lookers tend to be more serious in the summer than in the winter. The difference is there are fewer home lookers in the summer. A listing is more likely to rack up it’s days on the market in the summer. Many sellers take this as a sign to wait until January to put their homes on the market. They fear their home will spend all those days on the market will make their home look less desirable in the winter. They’d rather see a steadier stream of showings than the slow drip of summer. Maybe they’re going up north for the winter and would rather button it up than cater to the few showings.

(On a side note, my slowest months tend to be in the fall when people are more in holiday mode than homebuying mode.)

What That Means for You, the Buyer

In summer, you will see fewer houses on the market, but you will also compete with fewer buyers. The seller who puts their house on the market in the summer might need to sell slightly more than the seller who takes theirs off the market. While our current market doesn’t allow for the ‘deals’ of 2011, the summer buyer has a little more pull than the winter buyer.

On the flip side, the winter buyer has more options. I have an email system that will send buyers listings as soon as they hit the market*. In the summer, I get calls asking if it’s broken. It’s not. Depending on how narrow a buyer’s criteria, they could go a week without getting an email from us.

I hate to answer a question with a question, but what would you prefer fewer competitors or fewer homes? If you are really picky and don’t want to change much, you might do better in the winter. But if you’re more flexible you might do great in the summer. Either way, if you’re thinking of buying a home in Punta Gorda, it’s never to early to start watching the market.

 

*If you would like emails updating you as properties hit the MLS, please email us at info@andreaegroup.com. In my experience, the MLS portal is the most accurate way for a buyer to watch the market. All the others, Zillow, Realtor, etc. farm their information off this MLS system. It’s free and there is no obligation–as in, after we set you up on automated system, we will never bother you again unless you contact us.