People usually start looking for houses when the leaves begin to fall, and the weather starts to chill. Fall is a beautiful time to buy a home for several reasons. The market is generally more stable in the fall than in the spring, when house prices may be inflated owing to high demand. Furthermore, interest rates are typically lower in the fall, saving consumers thousands throughout their loans. Many individuals wait until late spring to sell their properties, so there is usually more availability in the fall. This option gives customers additional alternatives.
The timing of your home-buying journey is just as crucial as the house you pick. Are you thinking of cozying up in a Fall River property? If so, now’s the perfect time to buy. Here are five reasons why:
1. Prices are Competitive
According to Zillow, the median home value in Fall River is $400,000, significantly lower than in Boston and Providence. Therefore, prices for housing in Fall River are quite competitive compared to other nearby cities and towns.
2. The Rental Market is Strong
For those looking to invest in a rental property, it’s good news that the rental market is flourishing. According to Rent Jungle, Fall River apartments’ average rent cost is $1,261; this price is slighter lower than what Boston charges on average ($2,314) and Providence ($1,500).
3. The Inventory is Robust
Fall River has a large number of homes for sale. In fact, according to Realtor.com, there are 1,086 homes currently available in Fall River. This number is more than the number of homes for sale in Boston and Providence!
4. The Buyer’s Market is Nearing an End
The buyer’s market in Fall River is also coming to a close. According to Trulia, the median sales price of homes in Fall River has been rising in recent months, with the vacancy rate sitting at 3.4 percent, lower than the national average of 4.8 percent. This suggests excellent demand for rental apartments in Fall River, which is great news for potential investors.
3. The Inventory is Robust
There are 1,311 homes on the market in Fall River as of Realtor.com- this number is higher than in surrounding areas such as New Bedford, Taunton, and Attleboro. Having a robust inventory gives buyers plenty of options to choose from.
4. The Buyer’s Market is Nearing an End
The buyer’s market in Fall River is rapidly approaching as the median sales price of houses has been steadily rising in recent months. The vacancy rate, according to Trulia, is at 3.4 percent, which is lower than the national average of 4.8 percent. Many people are searching for apartments in Fall River, which is excellent news for anyone considering investing in the rental market.
5. It’s a Great Time to Invest in a Home
Now is a great time to invest in a home in Fall River for many reasons. The population is expected to grow by 1.7 percent in the next year, so there will be more people searching for places to live. Additionally, the job market in Fall River is strong, with an unemployment rate of 4.2 percent, lower than the national average of 4.9 percent. These two factors make now an ideal time to buy a property that can be used as a rental unit.
Also, let’s not forget why Fall River is a great city:
– Fall River is one of southeastern Massachusetts’s historical and cultural gems. The city offers a variety of attractive features, such as its waterfront location, abundant parks, and recreational facilities, diverse housing stock, and rich industrial heritage.
– Fall River is located just minutes from Cape Cod and Newport, Rhode Island, making it the perfect home base for exploring all of New England.
– Fall River is also home to several colleges and universities, including Bristol Community College, Mount Holyoke College South Hadley, and the University of Massachusetts Dartmouth.
Fall River is the perfect place to buy a home, and there’s no time like the present! With so many stunning homes available, you’re bound to find one that suits your needs. And if you need any assistance along the way, our experienced agents would be more than happy to help. Check our website for more blog posts like this, or contact us today to start your home-buying journey.
