First-Home Q&A #9: Buy Now, or Wait for the Fall Listings?

“There will be more listings in the fall, so let’s move then.” I hear it often. Here is whether it holds up.

The fall increase is half true

Greater Boston typically sees the most new listings in spring, March through May, with a second rise in September and October after the school break. That second wave is written up with figures in the fall market note.

But the increase is the sellers’ side of the story. The buyers who decided to “wait for fall” for the same reason come back to the market in the same window. More listings, and just as many more competitors — there is no guarantee that offer competition eases.

The cost of waiting does not follow the seasons

Pre-approval to closing usually takes 30 to 45 days. With pre-approval in hand you can offer the moment the right listing appears; start the process in the fall instead and the move-in slides into early winter.

Closing costs — 2 to 5 percent of the price — are the same in spring and fall. Waiting for a season does not reduce them.

The deciding factor is preparation, not the calendar

More important than whether inventory peaks now or in October is whether you are ready to write an offer.

With pre-approval done you can move with the market’s timing. Without it, the listing you wanted goes to someone else while you are assembling documents.

Get pre-approved now, and judge the listings as they come — spring or fall. Start with the preparation.