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Best Time of Year to Buy a House In Southern Alberta

August 27, 2024 by jbrodoway Leave a Comment

The best time of year to buy a house in Lethbridge and Southern Alberta is really based upon your personal circumstances.  If you are pre-approved and ready, then go ahead, call your REALTOR®,  and start shopping. If you are pre-approved and ready, then go ahead and start looking.  There are some general trends, however with regards to buying a home.  

Person looking at a house in the winter
It’s hard to see what the yard looks like when it is covered in snow
  1. Winter (December – February)
  • Pros:
    • Less Competition: Fewer buyers are looking during the winter, which can lead to less competition and more negotiating power.
    • Motivated Sellers: Sellers who list during the winter may be more motivated to sell quickly, possibly leading to better deals.
  • Cons:
    • Fewer Listings: There are typically fewer homes on the market, limiting options.
    • Weather Challenges: Winter weather in Lethbridge can make house hunting and moving more difficult.  You can’t test the AC, and you also may not really know what the yard looks like.
  1. Spring (March – May)
  • Pros:
    • More Listings: The housing market typically sees a surge in listings during the spring, providing more choices.
    • Milder Weather: Pleasant weather makes it easier to attend open houses and move.
  • Cons:
    • Higher Prices: Increased demand can lead to higher prices.
    • More Competition: More buyers enter the market in spring, leading to bidding wars.
  1. Summer (June – August)
  • Pros:
    • Family-Friendly Timing: Summer is popular for families as it aligns with school breaks, making moving less disruptive.
    • Ample Listings: The market still has many options available.
  • Cons:
    • Higher Prices: Continued strong demand can keep prices high.
    • Competition: Many buyers, especially families, are active, leading to competitive bidding.
  1. Fall (September – November)
  • Pros:
    • Less Competition: After the summer rush, fewer buyers remain active, reducing competition.
    • Potential Price Drops: Sellers may reduce prices before the holidays, leading to potential bargains.
  • Cons:
    • Fewer Listings: Inventory may start to dwindle as the year ends.
    • Rushed Decisions: The impending holidays can pressure buyers and sellers to close deals quickly.

Personal Circumstances

  • Your financial readiness, job stability, and personal timeline are what’s most important. If you find the right house and are in a good financial position, it can be worthwhile to purchase regardless of the season. If you are currently renting, then you can try to align your purchase with the end of your lease.

If you haven’t already, you can start your home search here.

 

Check out our other Lethbridge and Southern Alberta Real Estate FAQs

Filed Under: Buyer Tips

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