The best time of year to buy a house can depend on many things, including your priorities, where you’re looking to buy, and seasonal fluctuations in the market. Like with most things related to buying a home, the decision of when to buy is a personal one — but we can offer a few tips, based on your desires and priorities.
If you’re moving to Delaware, try getting in touch with an experienced local real estate agent. Local agents understand seasonal variances and how to get the most for your money.
Best Time of Year to Buy in Delaware
The best time of year to buy in Delaware depends on your priorities. Is it most important to you that you have the largest selection? That the prices are lowest? Or something somewhere in the middle?
Luckily, no matter what your priorities, there’s a right time for you to look.
Biggest Selection of Homes
If you’re more concerned about finding your dream home than finding the right price, spring is for you. April has the most listings of any month, and April, May, and June are far and away the three most popular months for sellers to list new homes.
Unfortunately for buyers, spring is also the most expensive time to buy. With the most availability comes the most competition. From March through May, one in every four houses sells above its list price.
For the lowest prices, generally, you’ll want to start looking in the fall with a goal of buying in the late fall or early winter. In fall and winter, there are fewer homes on the market but also fewer people looking to buy.
Homeowners selling from November through February are often selling because they have to, not because they want to — and that can lead to large discounts.
Good Selection and Good Prices
If you’re looking for a good middle ground between blazing hot spring and desolate winter, home shopping towards the end of summer just might be for you. There’s a larger selection of homes available than in the fall and winter, and unlike in spring, houses will be priced to move.
Homeowners who hoped to sell in the spring boom, but didn’t, will start to offer discounts towards the end of summer. Sellers still living in their homes want to move before the weather gets cold. Parents want to move before the school year starts. And because the season attracts fewer buyers, good deals are still to be had.
These considerations are especially true for people looking to buy beachfront property — sale prices tend to plummet after beach season comes to an end.
The Best Places to Buy a Home in Delaware
If you’re looking to buy a home in Delaware but aren’t sure exactly where you’d like to be, consider some of these great options.
North Star ranks towards the top of every list of where to live in Delaware, and for good reason. The small yet suburban town is known for its good schools, nightlife, and job opportunities — and it’s only an hour from Philadelphia.
Middletown, one of the fastest growing places in Delaware, is a great place for a family. It has the best public schools in Delaware and also boasts a charming array of restaurants, shops, and entertainment spaces. Even better, it’s one of the more affordable places in Delaware, with a median home price around $200,000.
Greenville, a suburb of Philadelphia, is a hot spot for Millenials. Due to its increasing popularity, Greenville is expected to keep growing in the coming years. It offers a busy nightlife and easy commutes.
Rehoboth Beach is an idyllic town on the Atlantic, offering residents summer beach access and year-round oceanic sunrises. Rehoboth Beach is not for everyone and is priced out of range for most families, with a median home value of $583,600. But believe it or not, this is the lowest prices Rehoboth Beach has seen in a long time — so if you’ve always wanted a beachfront property, now just may be the time to look!
Newark is a small city of around 34,000 people, home to the University of Delaware and Rittenhouse Park. Known for its green spaces and good schools, Newark is a popular spot for families and young people. With its 15-minute commute to Wilmington and a 45-minute commute to Philadelphia, Newark is a great place for commuters to reside.
4 Ways to Get a Great Deal On a Home in Delaware
1. Find a Great Delaware Real Estate Agent
Finding the right real estate agent is an important step in the home buying process. The right agent will know the area inside and out and can advise you on the best time to buy in your locale.
Real estate agents are experts in their fields and cities and can help advise you on what time of the year to buy to fit your family’s needs.
Learn More: What Does a Real Estate Agent Do for a Buyer?
2. Assess Your Needs and Lay Out Your Goals
Every decision in the home buying process is a personal one, and the timing of your purchase is no different. Some families care most about the budget, while others are more interested in having the best selection to choose from. Some are tied to a specific location, while others don’t have a particular place in mind.
Sit down and make a plan about what your needs are. From there, you’ll be able to get a better idea of when you should plan to buy your home.
Learn More: What to Look for When Buying a Home
3. Find a Lender and Secure Financing.
Home buyers have many different financing options available to them, from government-sponsored and subsidised loans to traditional mortgages with private lenders. Your agent can help evaluate your financing options and figure out what will work for you, given your goals and current financial situation.
The closing process typically takes around 30 days, so if you’re on a fixed timeline, be sure to keep it in mind and tell your agent.
Learn More: A Step-By-Step Guide to the Home Loan Process
4. Negotiate for the Best Possible Price
Once you’ve found your dream home, it’s time to negotiate. Your agent will help you make and submit your offer. It’s important to choose an agent who is an expert negotiator and will try to save you money every step of the way.
If you’re looking to buy a home in Delaware, get in touch with a Clever Partner Agent. Clever Partner Agents are all top-rated in their field and can help you with every step of the purchase process.
Fill out our online form and we will put you in touch with a Clever Partner Agent in Delaware for a no-obligation consultation.