Wait to Buy?

Q: "If I wait until the late fall or winter to buy, will prices be lower?"

A: Buyers often ask us if prices decrease during the winter on the Outer Cape. It’s a good question, but the answer is contrary to what you might expect. Even though our local population diminishes during the cooler months, the real estate market on the Outer Cape is active year round, and we don’t see a seasonal shift in pricing. In fact, one of our busiest periods traditionally falls in January, right after New Year’s. Determined buyers often begin their search during the winter months so that they can be assured of summer occupancy in their new properties.

There are a couple of aspects to the market, however, that you might observe to be seasonal. We tend to see a slight increase in market inventory immediately following the summer season. Owners often think about listing their property at the conclusion of one rental season, and prior to the next. Another ‘trend’ that we have seen is increased activity in the Commercial market during the winter months. Future business owners tend to shop for and purchase property during our quiet months, in order to allow themselves enough lead-time to prepare for the summer crowds.

The best time for you to buy is when you find the perfect property! Remember that, in addition to being the ideal summer destination, the Outer Cape is a beautiful and restful place to visit in the quiet-season.