/**code for yoast breadcrumb */

Here are some statistics to get a sense of best time of year to buy property. Each fall, the prices fall back from what they had been in the spring.  Prices recover every spring (although this year, spring prices for condos in 2019 were actually slightly lower than they had been in the spring of 2018).  Overall, though, prices on all types of properties were slightly higher in the spring of 2019 and they had been in the spring of 2018.

To wit, the average sale price of a single-family house between January 1, 2018, and June 30, 2018 was $1,476,023. In the following six-month period, between July 1, 2018 and December 31, 2018 the average selling price of a single-family House in Newton felt $1,381,500. However, in the following six-month period, the spring of 2019, between January 1, 2019, and June 30, 2019, the average selling price of a single-family house in Newton was $1,497,326.

For condos, the average sale price in the spring of 2018, the period between January 1, 2018, and June 30, 2018 was $835,115. The average sale price went down that fall to $788,452 for sales that took place between July 1, 2018 and December 31, 2018. But, the average condo sale price went back up over $800,000, to $820,783 in the first six months of 2019.

So, while there is never any guarantee in real estate, all of the market signs heading into the spring are positive: almost record low interest rates, a lack of inventory, and a strong job market. If you buy a house in the fall months, the statistics say that whether you chose to sell it this spring, the following spring, or in 10 years in the spring, it would be highly likely that you would be able to sell the house for a higher price than the one at which you bought it. If you made improvements to the house, such as an addition, or even some type of an additional renovation, the numbers would likely be even better!

 

Terry