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Are You Ready for the Black Friday of Real Estate in Reno-Tahoe?
Every year, Black Friday is a highly anticipated event for eager shoppers. Some prepare for weeks. They craft and refine a strategic shopping agenda, determine exactly when to arrive at each store, and create a wish list of discounted must-have items to purchase.
But what about buying a home? Is there a Black Friday for the home-buying process? It turns out, there is. According to a new study from realtor.com, the week of September 22 is the best time of year to buy a home, making it Black Friday for homebuyers.
After evaluating housing data in 53 metros from 2016 to 2018, realtor.com determined that the first week of fall is when buyers “tend to find less competition, more inventory, and the biggest reductions on list price.”
The report explains,
“During the first week of fall, buyers tend to face 26% less competition from other buyers, and they are likely to see 6.1% more homes available on the market compared to other weeks of the year…nearly 6% of homes on the market will also see price reductions, averaging 2.4% less than their peak.”
What’s so different about the first week of fall?
George Ratiu, Senior Economist with realtor.com says,
“As summer winds down and kids return to school, many families hit pause on their home search and wait until the next season to start again…as seasonal inventory builds up and restores itself to more buyer-friendly levels, fall buyers will be in a better position to take advantage of today’s low mortgage rates and increased purchasing power.”
Learn more about how prices, listings and buyer competition stack up during the first week of fall in metro areas across the United States.
Bottom Line
If you want to take advantage of the Black Friday of home buying here in the Reno-Tahoe-Carson region, reach out to any of our agents to discuss the benefits of making your move this fall.
Fall Fireplaces for Crispy Cool Reno-Tahoe Autumn Nights
Starting to feel the chill of the change in seasons? Cozy up to this stunning stone fireplace with 2.4 acres of private, lake view living in beautiful Incline Village, NV.
Keep your backside toasty and your heart happy as you revel in the beauty of these incredible lake views. This one-of-a kind property is a dream come true for those who love the watersports life.
You’ll never want to get out of bed on those frigid fall mornings at this elegant estate. While away your weekends in this 13,000 square foot palacial home in prestigious Montreux, Reno, NV.
Watch the first snow flurries fly from the comfort of this magnificent modern marvel. Poised like a sentry high above Reno, enjoy sweeping views of the Truckee River and downtown city lights.
The most elegant cabin kitchen you’ll ever eat in, enjoy fireside dining on those crisp autumn nights. You’ll love this gorgeous home on three acres, close to Tahoe City yet with a remote vibe.
One of the most charming, intimate, lakefront lounges we’ve ever seen, curl up with a good book and a hot toddy to watch the leaves change. The artistry of the hand-chiseled trim is unbelievable.
A mesmerizing water view, a comfy couch, a warm fire—what more could you ask for on a fine fall day. This mountain modern home offers elegant single-level living with opulent touches.
Enjoy treehouse living on almost 9 acres and watch the aspens change this fall. This spectacular property offers the look, feel and proximity of Tahoe with conveniences of Carson City.
Looking for a different fireside fall experience? Browse Reno-Tahoe-Carson homes for sale.