Topic 1 of 8 Little Secrets for Buying a Home Series
Buying a home for the first time can be confusing. That’s why the tips and strategies you’ll find in my 8-week series will set you on the right path. It’s my own unique approach and a “behind the scenes” glimpse of what you should look out for and consider when starting your own search for a home.
Buying a home in the Atlanta real estate market requires an understanding of not only the seasonal shifts in market activity but also the weekly flow of the market.
You’ll need to understand that there are two cycles – both a yearly one and weekly one when looking at homes. And you’ll need to be prepared and know what to expect for each one.
One simple way to explain these cycles is for me to use an air travel metaphor: It’s like knowing the best time of year to plan a trip for flight availability or the best day of the week to book a flight for the best fare.
Same concept for buyers!
Just like air travel, as you get out there, you start to know what to expect and know what time you need to be out there to get the best outcome. It’s a huge lesson for buyers to know that they’ll need to adapt and be flexible.
Go With The Flow
I can’t emphasize enough that you’ll be a successful and less stressed buyer if you know how to respond to the cyclical flow of the market — both seasonal and weekly.
My tips below will help you understand why timing can affect how you go about looking for a home:
The Weekly Inventory Cycle
Homes tend to come on the market Thursday and Fridays. As the weekend approaches buyers have time to devote to their home search. Makes sense!
That means you have to get organized Friday afternoon or evening to know what homes you are going to see Saturday and/or Sunday. Don’t worry, your Friday night preferred entertainment will eventually return!
Depending on the neighborhood you are looking in, homes will tend to either go for “speed” or go for “the money.” The market has shifted though, and I’m noticing that sellers and the agents that represent them are still trying to figure out the rhythm. Longer days on market and price reductions are big indicators of this.
What that means is, if you see a home you like online, reach out to me and flag the listing so I can assess the price and contact the seller’s agent to see what their specific situation is to determine if speed is necessary or if you can take your time.
There are exceptions to this, but typically, this is how the weekly cycle of new listings works.
Keep in mind that the inventory of homes for sale changes weekly, and depending on the time of year it can be drastic. So once you decide to seriously buy a home and the timing is right, you really need to be out there looking and communicating with your agent. And again, have a strategy in place for “speed” or “the money.”
The Yearly Inventory Cycle
Here’s a breakdown of what to expect during the year:
- Inventory (the number of homes on the market) in the Atlanta areas has a yearly cycle that looks like a bell curve with the low periods in January and December, and the height of the inventory peaking April through June.
- Suburban homes follow the school calendar and tend to become available in April/May/June. Not as many suburban homes come on the market at other times during the year.
- The overall market slows down after Labor Day.
What’s all this mean for you?
Go with the flow! If you are starting your search in December, January or August, be prepared that there won’t be that many homes to see. If you can be patient and wait it out until March, April, May or June, you’ll have plenty to choose from but be ready to pounce if the right house comes along because other buyers are likely doing the exact same as you.
That’s why you don’t want to get frustrated or give up on your dream to own a home if it’s simply timing that’s not on your side.
There are exceptions to every rule, so if you want to know what to expect for your own home search, get in touch and I’ll help you through it all. It’s not one-size-fits-all and there are no hard and fast rules, just trends to keep in mind.
Let me know what you are looking for and where you would like to live. We can get you started on your search and help you fine-tune it to your needs and budget. That way you’ll know what to expect and avoid any anxiety about your search.
Take a breath, then “sit back, relax, and enjoy the flight”! I’ll show you how. Email Me!
Next up in my series, 8 Little Secrets for Buying a Home is a must-read – What NEVER to Do Before Buying a Home. These tips will save you a lot of grief!
I'm Morgan and I love helping professionals in the aviation industry make their move to Atlanta as smooth as a greased landing. Whether its relocation, buying for the first time, or selling luxury and aviation real estate properties, I can help you transition smoothly.
2015 Sharpsburg McCollum Unit 110
Sharpsburg, GA 30265
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