Pricing, selection and competition in home buyer is very different depending up on the time of the year. For State Department, political appointees, and military members, the challenge is you don’t always get to choose your home-buying timeline.
Pro: It’s easier to spot potential problems with the roof, heating air conditioning and pool are more detectable in Spring. There are usually less buyers, so you may face reduced competition.
Con: In Alexandria, the spring season heats up right around Ground Hog Day. There might not be as much selection as later in the year when school lets out.
Pro: “Inventory is at its peak in June, July, and August. On average across the U.S., a buyer is going to have more choices in those months,” says Jonathan Smoke, chief economist of realtor.com®.
The more homes that are on the market, the more likely you are to find your dream home.
Con: In late Spring and early Summer in and around Alexandria, bidding wars are quite common. You can expect little or no room for negotiation.
Pro: This is when you find properties more willing to negotiate. In fall, especially after the kids are in school, there are fewer buyers, thus some sellers are willing to negotiate or pay for needed repairs. “Lenders may also be willing to negotiate closing costs to win business from a smaller buyer pool.”
Con: The market is “picked over”. Much of what you will see are the leftovers from a busy summer season in Northern Virginia.
Pro: Winter generally has the fewest buyers, and sales transpire at a calm and reasoned pace.
Con: The market usually has it’s lowest inventory of available homes in December and early January. In January and February, a storm (or remnants of a storm local roads) can make shopping very difficult. B
Ultimately, the best time to buy a house depends in Alexandria on your own specific needs. But let’s face it: State department, military members and political appointees may not have no options as far as timing. That’s where a great real estate agent can be invaluable.