Is It Too Late to Buy This Year? Why Summer Might Be the Sweet Spot for WNY Buyers
Why Summer 2025 Is a Great Time to Buy a Home in WNY:**
* 📈 **More Homes Available:** Inventory is up 30.6%, giving buyers more options and fewer bidding wars.
* 💲 **Prices Are Stabilizing:** After last year’s spike, home values are rising more slowly—about 3% in 2025.
* 🏦 **Still-Affordable Rates:** Mortgage rates remain competitive, making now a smart time to lock in.
* 🧳 **Less Competition:** Summer buyer activity typically dips, giving you more negotiating power.
* 🏡 **Local Expertise Matters:** Great Lakes Real Estate is here to help you find the right home, right now.
As summer unfolds in Western New York, many prospective homebuyers wonder: Have I missed the boat? The answer is a resounding no. In fact, summer 2025 presents unique opportunities for buyers in the Buffalo-Niagara region.
Why Summer 2025 Is a Prime Time to Buy
1. Increased Inventory Offers More Choices
The housing market has seen a notable uptick in available homes. According to Realtor.com’s April 2025 report, the inventory of homes for sale rose 30.6% year-over-year, marking the 18th consecutive month of inventory growth. This surge provides buyers with a broader selection and reduces the intensity of bidding wars.
2. Stabilizing Home Prices
While Buffalo has been recognized as Zillow’s hottest housing market for 2025, home price appreciation is expected to moderate. After a 6% rise in 2024, values are projected to climb by approximately 3% this year. This stabilization offers buyers a window to purchase before prices potentially rise again.
3. Competitive Mortgage Rates
Mortgage rates, while higher than historic lows, remain competitive. As of early June 2025, rates fluctuate between 6.07% and 6.73%, depending on credit profiles. Locking in a rate now can lead to significant savings over the life of your loan.
4. Less Buyer Competition
Summer often sees a dip in buyer activity as many focus on vacations and other commitments. This seasonal slowdown can translate to less competition, giving you an edge in negotiations and increasing the likelihood of securing your desired home.
Buffalo-Niagara Market Snapshot
- Median Home Price: $212,500
- Average Days on Market: 10 days
- Percentage of Sales Over List Price: 54.9%
These metrics underscore a dynamic market, but with the right strategy and guidance, buyers can navigate it successfully.
Partner with Great Lakes Real Estate
At Great Lakes Real Estate, we’re committed to helping you capitalize on the current market conditions. Our experienced agents offer:
- Personalized Guidance: Tailored strategies to meet your unique needs.
- Local Expertise: In-depth knowledge of the Buffalo-Niagara region.
- Comprehensive Support: From mortgage pre-approval to closing, we’re with you every step of the way.
Ready to Make Your Move?
Don’t let the summer slip away. Contact us today to explore your options and take the first step toward homeownership. Visit www.greatlakesrealestate.com, or reach our office directly at (716) 754-2550.
