Getting top dollar for a recreational property you’re selling or getting the best deal on purchasing recreational land for sale is undoubtedly top-of-mind for every buyer and seller, and as it turns out the time of year a property is listed or closes can have a big impact on its price. However, there are some caveats to consider: Are you in a hurry to get your property sold? How quickly do you want to be able to utilize a property you’re purchasing? Are you willing to sacrifice a year of hunting leases or other income just to get a better deal when buying? These are all questions sellers and buyers will have to answer before deciding when to list or make an offer.
Selling Property – Spring and Summer
Spring is usually the best time to sell for several reasons: First off, there will be plenty of buyers in the springtime eager to get a deal done so they can enjoy their land in the warm summer months and get it ready to hunt for fall. Secondly, inventory in the spring can still be fairly low; by listing early you’ll have less competition from other sellers and can often ask for a higher price than you could get later in the year.
Summer is still a good time to sell, but since there will likely be more properties on the market you may not be able to ask as high a price. By late summer the selling season will be winding down, as many potential buyers will recognize that it might be too late for them to close on the property before hunting season begins.
Buying Property – Fall and Winter
The colder months of the year are almost always the best time to score a good deal on recreational property. With hunting season already in full swing and the holidays right around the corner, there will likely be less competition from other buyers. Additionally, many properties on the market in the fall and winter may have been listed many months earlier, meaning the sellers are more likely to be flexible on price. Even newly listed properties in the fall and winter can sometimes be had for less, since sellers who list this time of year are often looking for a quick sale.
However, there are disadvantages to buying recreational land in the fall and winter, especially for hunters. Since hunting seasons may already be in full swing before you close on the sale, there’s a good chance you won’t get to hunt your new land until the following season. And if you plan to use your land to generate income from hunting leases, this too will likely have to wait another year.
Regardless of when you decide to list or begin your search for recreational property, working with a talented real estate professional is key, as they can provide you with the quality marketing and successful navigation of your market to ensure a successful transaction.
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