Oftentimes lower inventory is seen as a bad thing in the eyes of home buyers. And since we are approaching a time of year that traditionally has lower inventories, it is a good time to discuss the positive aspects of decreasing amounts of homes for sale. First it is important to understand that the spring and summer tend to have higher inventories because it is the easiest time for people to move, and oftentimes they do so in order to re-locate or move-up before school is in session or winter weather sets in. But in Wilmington, since a large amount of the homes are second-homes or permanent retirement residences, the best time to buy is a bit skewed since not every person is on the “school” schedule per say.
Lower numbers of homes on the market actually poses a fantastic opportunity for buyers at any point of the year, but especially in the winter. There is less competition from other buyers, prices are generally lower and there is more room to negotiate since some of the homes may have been on the market for awhile. Consider these factors before you discount the next few months. If you look closely, lower housing inventory may mean a better opportunity for you to find and customize your dream home. For more information about buying a home in Wilmington, please don’t hesitate to contact us! To browse available listings around town, click below: