Your Number 1 Question Answered: Wait or Buy?

by Nov 14, 2023Home Buying Advice, Quarterly Reports

Part 1: The Big Question

You’re probably asking, “Should I buy a house now, or wait?” That’s a common question, and I’m here to help! Today, we’ll talk about the fall housing market and share some secrets to help you make the best decision.

Part 2: The Best Time to Buy

Now, let’s dive into the golden time to buy a house in Boston. According to, the week of Oct 1-7 is like hitting the jackpot for homebuyers. Why? Well, during this special week, there are way more houses available compared to the spring and summer markets. It’s like a fall feast of homes, waiting for you to pick the one that feels just right.

But that’s not all! Less competition is another perk. In the spring, lots of families move for schools, and first-time homebuyers are busy making decisions before their September rent cycle kicks in. By October, many have already found their homes, leaving you with more options and fewer bidding wars.

I agree with the experts, but here’s a little insider tip: stretch that golden window from the last week of September to the end of October. Historically in Massachusetts, this timeframe sees the highest levels of housing inventory. In fact, the week ending September 16th marked the peak in total inventory at 7,943 homes, surpassing the June peak by 5%. Yes, we’re down 56% compared to the same weekend in 2019, but it’s nowhere near the buying frenzy we saw in 2020, 2021, or the first half of 2022.

So, what does this mean for you? It’s a buyer’s paradise! Take your time, explore the options, negotiate, and feel confident in your decision without the pressure of a competitive market.

Part 3: A Story About Houses

Now, let me share a quick story that perfectly illustrates why timing matters when selling a home. In September 2021, I listed a townhouse for sale in Watertown, MA. This townhouse was part of a 4-unit association, and all the homes were identical, except for interior paint colors and personal décor.

Earlier that year, in March, one of the other townhomes was listed at $929,000 and ended up selling for $1,020,000 due to the high demand in the spring market. I explained to my seller client that listing in September might not produce the same result, so we listed the property for $949,000. Guess what? We ended up selling for $965,000.

Two similar properties, listed at different times of the year, produced different results. This story shows that selling in the fall doesn’t mean you’ll get less for your home; it means you have a realistic market that allows for fair negotiation and reasonable pricing. Timing, my friends, can make all the difference in the real estate game.

Part 4: Local Insights with a Dash of Numbers

Let’s take a closer look at Boston’s neighborhoods. YTD stats reveal a fascinating panorama. In Lexington, home prices went up by 5.3%, but in Winchester, they gracefully bowed with a 4.3% dip. Arlington nodded subtly with a 1.5% decrease, and Watertown proudly stood tall with a 7.5% uptick. In many nearby towns, prices are somewhere between going down 5% and going up 5%. Got questions about your town? Just ask me!

Part 5: Market Predictions and Your Move

Now, let’s peer into the crystal ball of market predictions. Experts think home prices will go up next year, but predictions vary. Some say by 6.5%, while others say 3.5%. They also think mortgage rates might go down. If you need a new home, this fall is great because there are lots of choices. But next year, there might be more people looking for homes, making it a bit harder.

Part 6: Your Unique Decision

Remember, it’s your decision. If you need to move soon, fall is cool because you have lots of choices and time to decide. But if you wait, prices might go up, and it could be a bit tricky. Talk with your family and think about what’s best for you. I’m here to help and share information. Let’s make your home journey awesome!