You may have heard that selling your home during the fall months, or “off” season, can be more of a challenge than if you list it during the "on" seasons of spring and summer. There are several reasons why this is not always true, especially this year.
Buyer demand has remained strong this fall, so you are less likely this year to see a drop off in showings. You also have less competition from other sellers in the autumn, so your home is likely to be considered as a serious option soon after you list it.
In past years, showings of your home might have dropped off because there are typically not as many buyers in the fall. This year, according to the Realtors Confidence Index Survey there is a strong demand among home buyers and a steady growth among those who are purchasing their first home.
Real estate trends are showing that the supply of homes for sale is running under the six month supply count used for determining a "normal market." This works to your advantage because of the principle of supply and demand. More buyers versus fewer homes to buy make it likely that you will sell your home for an acceptable price without having to wait too long to sell it.
You may need or want to sell your home for one of the following reasons: a new job in a new city, needing to downsize, wanting to move up in space or neighborhood, wanting to travel. It is always a good time to sell when you are in the position to make a major change and you make the decision to do so.
If getting the most from your real estate agent is important to you, then fall is a great time of year to list your house. Temperatures are dropping, and buyers are thinking about getting cozy in a new home before the holidays arrive. Even though we humans are not creatures of instinct, there is something to be said about "nesting" as fall weather sets in and winter approaches.
In general, the process of home buying/selling has sped up. Buyers are trying to stand out in today's real estate market because they have to compete with other buyers. Most people now get pre-approved for financing a mortgage. The buyer then knows how much home they can afford and the process becomes quicker and easier. The average time for closing loans has dropped from 48 days to 43 days since the beginning of the year.
Posted by Shane White on
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