Do Homebuyers Have A Sweet Spot In The Richmond Virginia Housing Market? You Bet They Do!!

You may have heard of a sweet spot on a baseball bat or a tennis racket, but did you know there is a sweet spot in the Richmond Virginia housing market for buyers?

The sweet spot for buyers in RVA might be just around the corner.  An analysis of the housing market covering the last few years found the optimal week to purchase a home is in or around...  Wait for it...  October 2-8.  This week has currently shown the best balance in market conditions for buyers.

If you are looking to buy a home, this might be your golden ticket.  "Why?" you might ask.

Increased Supply

Historically, the number of homes available for sale increases during this time and there are fewer buyers in the marketplace. This may mean that you will have more options to select from.

A Decline In Bidding Wars

When more homes are on the market and fewer buyers are looking at them, you may also see a decrease in bidding wars or at least not as many competitors.  The peak time in the Richmond Virginia housing market starts when the azaleas start blooming and runs through early to mid-August.  However, even in October, it is important to submit a strong, strategic offer.

Price Reductions

Looking back, as we approach the holiday season, you may expect to see a decrease in sales price, especially, if you can find a home that has been on the market for a bit. Why? When housing supply bumps up, motivated sellers are looking to make their house stand out and a more attractive price is one tactic they may use.

How Do You Take Advantage Of This Market?

If you are ready to take advantage of the sweet spot in the Richmond Virginia housing market, October may be the time for you.  Let's plan to talk this month to put you on the right path a competitive home purchase.