Sellers October 26, 2020

Why Fall is a Good Time To Sell

Thinking about selling your home but not sure if fall is the right time of year?

It’s actually a great time to put your home on the market. Fall isn’t just for cozy outfits and lattes—it’s also a great time to sell your home! Here’s why:

  • With your yard still summer green and the leaves beginning to change, fall is the perfect backdrop for your home to make a stunning first impression. After all, listing photos are a big deal—95% of buyers look online before even talking with an agent.
  • Fewer homes on the market equals less competition (and inventory was already down going into fall). Not to mention, buyers who are looking this time of year are serious about making a purchase.
  • Have you seen interest rates lately? They’re lower than they’ve ever been which means buyers are eager to buy when the right home comes along. Our sneaking suspicion? Your home is exactly what someone is looking for right now.
  • Two words — Curb appeal. Fall is an opportune time for some eye-catching curb appeal! It’s simple and affordable to create seasonal curb appeal by staging the front steps/porch of your home and entryway with mums, pumpkins and gourds. Think about bringing some of that fall decor inside with autumn colors and cinnamon or pumpkin scented candles. If you want to take it further, add other seasonal touches such as freshly baked pumpkin bread/muffins or simmer some hot apple cider (this is a great option for broker’s opens and open houses).
  • There are different buyer demographics. While families wanting to find homes before the school year starts are more likely to move in the spring/summer, millennials & empty-nesters are typically more willing to take part in the fall real estate market. Also, employers needing to relocate their workers often hold off until the fall. People who are relocating probably need to get through the process quickly as well, which may mean a pretty fast closing.

Still not sold on selling your home this fall? Here are some more advantages to getting your home on the market ASAP:

  • Buyers are active. ShowingTime revealed that buyer traffic is up 60.7% compared to this time last year. That’s obviously a substantial increase.
  • Buyers are prepared, willing, and have the ability to purchase homes – and they’re in the market to do just that right now. In many parts of the U.S, buyers are finding themselves in bidding wars — meaning you could potentially sell your home quickly and for a top dollar.
  • Inventory is low. The NAR reported that there were just 1.49 million units available for sale in the most recent Existing Home Sales Report. That’s down 18.6% from last year, meaning there aren’t enough homes for sale in most of the U.S. to satisfy the amount of buyers. As a result of the pandemic, many people were hesitant to put their homes on the market. This will likely change as the economy recovers. Buyers will have more choices as we enter the new year. Don’t wait until there’s more competition before making the decision to sell your home.
  • It can be a speedy process. In the current, super competitive real estate market, buyers are having to make themselves stand out, which means getting pre-approved. This makes the entire selling process quicker and simpler because buyers know precisely what they can afford prior to home shopping. The most recent Origination Insights Report from Ellie Mae, reported that the average amount of time to close a loan is only 49 days.
  • There might not ever be a more crucial time to move. You’ve probably spent the majority of the last six or so months in your home. This may have led you to realize that it’s too small and you are need of more square footage. If you’re now working from home, your kids are doing school online, or you simply need more room, your current home might not work for your family’s shifting needs. Homebuilders are building homes again, so you have the option to pick the specific layout for you and your family. You can also ensure the outdoor area is exactly what you want as well.

If you think you want to take advantage of the current real estate market, give us a call, and let’s tie the whole process up in a pretty autumn bow, long before the new year!