Six Reasons to Sell in the Fall

Six Reasons to Sell in the Fall

 

Don't panic if you want to sell your home but fear you've missed out on the spring and summer buying bonanza. Fall is actually a great time of the year to put your property on the market!

 

The reality is that the economy, not the weather, dictates prices and buyer behavior. And selling this fall and winter is an excellent idea as property continues to grow in value despite increasing mortgage costs. With interest rates around 6%, still low by historical standards, buyers are very much still in the market. Prices have grown approximately 10% year-on-year in some areas, and that's after 20% annual value growth in the past two years. There are additional benefits to selling this fall, too.

 

 

Less Competition 

Sellers usually flood the market in spring, increasing supply, giving buyers a wider choice, and potentially dampening prices. That hasn't been true for the past two years because of Covid, but we're returning to everyday behaviors. Don't delay until next spring because you could get caught in a tsunami of neighborhood properties going up for sale.  

 

 

The gorgeous browns, cherry and orange foliage in your garden and surrounding streets are always appealing for buyers. 

 

 

Many companies transfer staff to new areas in the fall, believing their timing reduces costs. That corporate philosophy generates additional buyers which is good news for you. Also, these buyers want to cut a deal and focus on their careers.  

 

Industry data suggests the fall signals renewed interest in the property market by empty-nesters seeking to downsize and first-time buyers. Often the downsizers who have sold in the summer, are cashed ready and willing to make a deal.  

 

 

The spring and summer sales seasons bring out property looky-loos, people just walking in the sunshine and walking through people's homes to see what they look like rather than serious buyers. They disappear once fall arrives, which gives you a better chance of only working with buyers ready to go. 

 

 

If you're looking to upsize or downsize, you may find disheartened summer sellers who haven't been able to strike a deal. Properties that languish on the market for more than 60 days can be good buying.