It goes without saying that the spring is a great time to sell a house. The weather is warming up, things are blooming, and many home hunters are in the mood to shop around. That being said, there are some significant advantages that come with listing your home in the fall.
With the arrival of September, we encourage Sellers to take a look at what the fall real estate market has to offer. Here are 4 reasons why you should consider selling this fall season.
1. Home prices are continuing to rise
The air outside might be getting crispier, but this doesn’t mean the demand for housing has cooled down. As per Donna Bacher, the president of the Realtors Association of Hamilton-Burlington,
“We are continuing to experience high demand coupled with record low inventory in almost all property types which is driving sale prices.”
We continue to remain in a strong Seller’s market meaning the supply of homes for sale is much lower than the number of qualified Buyers in the current market. This causes shorter listings periods, multiple offers, and homes likely selling over their list price.
2. People are more zoned in on real estate
Kids returning to school means fewer distractions in parents’ lives – no summer camp pickups, no cottage holidays, and no taxi driving to and from daytime activities. Also, with an increase of remote working professionals, there is even more flexibility with peoples’ schedules for home viewings. This is a prime time for serious Buyers to focus on finding and securing their next property before the holiday season that quickly creeps up. People want to be settled into their new home just in time to decide the perfect place to showcase their Christmas tree.
3. Potential buyers will FALL in love with your curb appeal
The fall season highlights an emotional aspect of purchasing a home: finding warmth and ambiance. The leaves changing, pumpkins or colourful fall mums on the front steps are very nostalgic elements of the season and naturally draw people in. This also makes some aspects of home selling much more straightforward, such as staging or refreshing the exterior of the home. Garden maintenance in the fall is more manageable than the spring and summer months. Showing your home at this time can also highlight views and features that aren’t visible when leaves from trees are obstructing views.
4. Get out before interest rates and prices increase
If you’re looking to move up, now’s the time to unload your current home. Because mortgage interest rates are historically low, they are projected to increase over the next year. Selling now allows you to get into a new home at an affordable rate. Putting off the sale and purchase of a new home until next spring or summer could result in paying extra for your dream home and thousands of dollars more over the life of the loan.
People reflexively think spring is the preferred time to sell, but that can be a bit of a misnomer. For starters, with everyone thinking that way, it means you would have more listings to compete with as a Seller if you are listing in the spring. It is always to your advantage to be the only house like yours on the market at any given time. It puts you more so in the driver’s seat when it comes to dictating price and terms of an Agreement.
Buyers are searching year-round for the next place to call their home. With demand strong and less competition in the current market, this time of the year is perfect for selling, especially if you’re hoping to move before the start of the holiday season.
