When it comes to buying a lakefront property, timing is everything. That refers not only to a specific property but time of year. For the majority of lakefront home purchases, right about now—October right up until the Christmas holidays—is the best time to buy.
“In our industry, the buying and selling of lakefront property, 39 percent of the sales take place between now and the end of the year,” ... “What’s really ironic is, historically, the response to our listings and ads decrease dramatically during this time period and we typically receive fewer referrals during that time as well.”
While many realtors can anecdotally share a drop in the number of calls during the fall, Google can back up a general decline in interest. According to Google Trends, the number of people conducting searches using the phrase “real estate” over the past half a dozen years peaks in the spring and drops significantly after October through the end of the year.
So, with the declining interest, why are there more sales?
Freerksen suggests the reason is as simple as less competition motivating sellers.
“With fewer people out there buying, there’s a tendency for sellers to be a bit more flexible in accepting offers rather than sitting on a property through the winter and into the next year,” said Freerksen. “That’s another reason why it’s a great time of year to buy.”
As a lake enthusiast who has lived on a lakefront property for almost all of his life, Freerksen offers one more thought on why lakefront properties sell more during the mid to late fall. Said Freerksen, “You can’t blame somebody who owns a lake house and is planning to sell to hold onto it for one more summer and put it on the market after Labor Day.”