When people talk of timing the real estate market, they’re generally talking about buyers trying to get into the market, or finding a good price on a new family home or investment property. However, timing the market is a seller’s game as well, and if you play it right, you could find yourself selling your home for a price above what you’d dreamed of, quite quickly. Most sellers list in the spring as that’s known to be the busy season, but here are 8 reasons to consider listing in the fall.
The number of homes listed for sale (the market inventory) is lower in the fall. Less homes for sale means less competition and potentially more power to sell your home on your own terms.
Fall homebuyers are known to be much more serious as they’re keen to find a new home and be settled before the holiday season begins and the cold weather sets in. These buyers will likely want a quick closing as well, in order to get into the home faster, amongst other reasons.
Fall brings about specific demographics of buyers. You’re likely to see both fresh empty-nesting baby boomers looking to downsize as well as the millennial generation looking for their first, maybe second home based on the size of their growing family. Target these buyers. If you have a condo or a small house, try to market to empty-nesters. If you have a larger house with multiple rooms or spaces, try to market to millennials (think home office or TV room). Also consider staging a room as a nursery.
This one is two-fold. First, fall buyers still left on the market from spring and summer will likely be desperate to find something. Second, listing in the fall might mean looking to buy another home, and you’ll likely find that other fall sellers are more willing to negotiate. You might be able to get a great deal on your new home so you can make more strategic decisions selling your old home. However, this may not be the case in all markets. With recent news of interest rates being held at their current rate, this can very well create a surge of buyers trying to get into the market. With lower supply and high demand, this can mean a seller market with little to no room for negotiation on the buying side.
When the summer heat waves are behind us and the cool comfortable days return, people surprisingly are more likely to be out, as it’s bearable, comfortable.
Keeping your curb appeal looking fresh and attractive is always important when you list, but it’s even more so during a season transition. You’ll have to make sure your leaves are raked and gutters cleaned, but the changing colours of the leaves and other fall foliage will make your home feel warm and inviting to potential buyers.
As mentioned, the number of homes listed for sale is generally lower in the fall. This translates to less choices for buyers. That lack of inventory to a fall seller could mean a chance to get a better price for your property. You’ll also be the ‘fresh property on the market’, competing with stale spring/summer listings. Timing-wise, if you’ve had your eye on one of those stale listings, you might be able to snag a good price because it’s been on the market for a while.
As there are less real estate transactions in the fall, real estate vendors (agents, lawyers, lenders, inspectors, etc.) may be more available. For example, mortgage lenders may have fewer loans to process, and home inspectors and appraisers may have fewer appointments. As a result, your home closing may happen more quickly due to the availability of schedules As always, choosing the right brokerage to list and market your home is important, no matter the season. Find an Agent (and team!) that’s honest, transparent, and will work hard with, and for you. If you’re considering selling your home,
shoot us a message. We’re here to help.
