4 Reasons to Buy a Home This Fall
If you’re wondering if this fall is the right time to buy a home, you’re in luck. We’ve got answers. Specifically, we have four reasons why this autumn is the perfect-spice-pumpkin time to buy a home.
Fresh Listings, Motivated Sellers
In South Hampton Roads, active inventory (i.e., the number of homes available for sale) is up 2.8% over last month, despite being down 5.2% from last year at this time. More importantly, the absorption rate (i.e., the number of months’ supply of homes) is up 16.8% month-over-month — and and up 26.4% since last year. Fall unveils homes with sellers eager to make deals before winter sets in. Motivated sellers mean potential savings and smoother negotiations, putting the power in your hands.
Embrace the Cozy Vibes
Fall isn't just about pumpkin spice — it's about finding a home that warms your heart. Picture cozy fireplaces, warm tones, and the perfect ambiance. Fall is the season of comfort, and your new home could be the coziest yet. “Warm colors” — reds, oranges, yellows — evoke the setting sun and warm autumn fires with a sense of warmth and comfort.
Photo by Craig Dimmick on Unsplash
Navigate with Market Insights
Get the inside scoop on your local market. Not only do we have Market Minute Reports for Hampton Roads, but we also have have Market Leader Reports, courtesy of our parent company Long & Foster. As REALTORS®, we are armed with insights and experience that can guide you to the best neighborhoods and deals. Fall is more than leaves falling; it's about finding your perfect landing spot.
Home Prices Are Not Falling
Despite widespread media reporting last year that home prices might crash by an average of 4.29%, most prognosticators revised their estimates for Q4 2023 for an increase in value of 2.84%. According to our regional MLS (REIN), the median sales price for Hampton Roads is up a whopping 7.42% year over year. Amidst the media-driven apprehensions, the data remains clear: home prices are not falling.
The Bottom Line
In today's world, we navigate real estate with a blend of modern and traditional tools (new vs. old school, if you will). From email campaigns to social media and from direct mail to our personal REALTOR® relationships, we can tailor our approach to your preferences. We can design a search for you in our RealScout MLS Portal, yet we also encourage you to continue your search on public-facing websites. After all, it takes a village! Let's connect in ways that suit your lifestyle. We’re here to help you make a great move.
