Buying a house in North Carolina but not sure of the best time to buy? The answer to when you should buy depends on what you’re looking for and where you’re looking. Here are some tips on the best time for house-shopping in North Carolina.
If you’re moving to North Carolina and looking to buy a house, you may be wondering what the right time is to start looking. That answer can depend on a lot of things, including your budget, your priorities, and where you’re looking to move. Even within North Carolina, there can be seasonal fluctuations in the market.
If you’re trying to time your local North Carolina market, try getting in touch with an experienced local real estate agent. Local agents understand the seasonal variances and how to get the most for your money.
Best Time of Year to Buy in North Carolina
North Carolina has it all — from cities to coasts to mountains to the country. It also has a dynamic real estate market.
Remember: what’s right for one part of the state may not be right for another. If you’re looking for a mountain getaway, the timing of the market will be different from a beach house or downtown condo.
That said, there are some general guidelines you can follow, depending on your priorities.
What is most important to you and your family? Do you want the largest selection of houses? The lowest prices? Or something in between?
Biggest Selection of Homes
If selection is more important to you than price, you’ll want to look in the spring. April has the most listings of any month, and April, May, and June are far and away the three most popular months for new listings.
Spring is also the most expensive time to buy. In spring selling season, with the most availability comes the most competition. From March to May, one in every four houses sells above its list price.
For the lowest prices, you’ll probably want to start looking in the fall and aim to buy 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 & Good Prices
If what you want is a middle ground between the chaotic spring and stagnant 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 spring or summer, 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 end of 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 North Carolina
Asheville, known as "The Land of the Sky” for its elevation of over 2,000 feet, is known for its outdoorsy culture, fun restaurants, and art galleries. Situated along the Blue Ridge Parkway and between the Nantahala and Pisgah national forests, Asheville is the perfect place for people who want to combine a love for the great outdoors with a fun, close knit community.
Morrisville, a suburb of Raleigh, is consistently ranked as one of the best places to live in North Carolina. Its diversity, excellent public schools, and proximity to Raleigh make it one of the hottest spots in the state for Millenials and young families.
Winston-Salem is known for tobacco, but it brings so much more than that to the table. The fourth-largest city in North Carolina, Winston-Salem is family friendly, has good schools, and boasts more than 75 public parks.
Charlotte is a metropolitan area that retains its southern charm. If you like city life, you’ll have a lot to do in Charlotte, which is known for its restaurants and nightlife. Over the last several years, Charlotte has become a destination for transplants to North Carolina.
4 Ways to Get a Great Deal On a Home in North Carolina
1. Find a Great North Carolina Real Estate Agent
Finding the right real estate agent for you is an important step in the buying process. You need an agent who knows the local market inside and out and can advise you on the best time to buy in your locale.
Real estate agents are experts 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
Each decision in the home buying process is personal, and how to time your purchase is no different. Some families care most about price, 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 area in mind.
Sit down and plan out what your needs and desires are. From there, you can get a better idea of when the time is right for you to look.
3. Find a Lender and Secure Financing.
Home buyers have many different financing options, from government-sponsored and subsidized loans to traditional mortgages from private lenders. An agent can help evaluate your financing options and figure out what will work for you, given your goals and current financial situation.
Keep in mind that the closing process typically takes around 30 days, so if you’re on a fixed timeline, be sure to tell your agent.
Learn More: A Step-By-Step Guide to the Home Loan Process
4. Negotiate for the Best Possible Price
After you’ve found the right home for you, your agent will help you prepare and make your offer. Make sure you choose an agent who’s an expert negotiator and will save you money every step of the way.
If you’re looking to buy a home in North Carolina, 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’ll put you in touch with a Clever Partner Agent in North Carolina for a no-obligation consultation.