Selling Your Home This Fall
Home sellers and real estate agents often fear the start of fall because it signals the end of the summer selling season. The truth is that fall can be a great time to list your home for sale.
Conventional wisdom tries to say that taking your home off the market, or waiting to list, until the excitement of the New Year is the best way to sell your home. While it’s true that the New Year does reboot the real estate market, it also brings more competition, more listings. If you are trying to sell your home, wouldn’t you rather list while the competition is less? With fewer homes on the market for buyers to view, you are more likely to enhance your opportunity to be seen and get offers.
It’s a rule of supply and demand, that when inventory is low, prices tend to be higher. With the end of the summer season, often homes are removed from the market, either because the sellers want to enjoy the holidays without worrying about buyers or because they mistakenly believe they need to wait for the New Year. But when listings flood the market in January, prices also will go down as a “buyers’ market” takes hold.
Buyers in the fall also tend to be more serious about a home purchase. Summer is traditionally the time when buyers, especially those with kids, try and make their moves. The holidays are a time to relax and enjoy family and friends. In real estate, studies show that if a buyer is out looking for a new home during these months, they are more serious about moving. They have a reason to move, such as a relocation or life event. This means sellers in the fall have serious buyers viewing their homes, which tend to create better offers.
Fall selling season is here. Home sellers can enhance their ability to capitalize on the slower pace and smaller inventory by listing their homes for sale now. If you’re considering listing your home, fall is the perfect time to get the highest possible sales price while the competition is drinking pumpkin-spiced latte and waiting for the New Year.