Is Q3 the perfect time to buy your next investment property?

[Ahmed Alswaiti]

As we are in Q3 of this year, I am noticing some shifts in the market. I woke up today with plenty of "Price Cuts" from the listings. I guess many investors are hesitant during this period, probably due to the holiday season coming up. I believe that Q3 could offer more opportunities, especially with the gap of negotiation there. Many investors and sellers tend to slower pace during this time, anticipating a busier market in Q4. This seasonal slowdown means fewer competing buyers, and this gives savvy investors the upper hand in negotiations. Simple economics, supply and demand. With less demand, sellers may be more motivated to offload properties, especially those facing higher holding costs due to rising interest rates.

Also, the election season plays a major role with what's going on. Historically, election years bring uncertainty, and this one is no different. The uncertainty around potential policy changes related to housing, taxes, and economic strategies has already caused some investors to wait on the sidelines. But this hesitation can actually create opportunities for more investors to step in. 

In Jacksonville, the market continues to be strong in 2024, with some cooling off after surging activities of previous years. The median home price in Jacksonville sits at around $302,000, and homes are selling quickly, often within 31 days, if priced right. However, during Q3, as competition dips, investors could find properties selling below asking price, creating great value opportunities. These drops are due to lower demand and market corrections. Overall, in markets like Jacksonville, where the demand for both homes and rentals remains strong, there’s significant potential for investors who are ready to snatch the opportunity. The key is to stay informed and monitor the market.