It’s a common misunderstanding among people selling their home that the autumn and winter months are not a good time to sell. While sales do pick up in the spring and summer months and tend to die down in the winter, that doesn’t necessarily mean that listing your home at this time will result in a negative outcome.
In fact, many real estate agents think the later months are a great time to sell. Any time of year is a good time to sell when there are going to be serious buyers ready to consider your home. While there are definitely some buyers that stop their home search towards the end of the year, there are also those that are relocating, want to move immediately, or many other reasons.
“Homes that look great and are priced appropriately will sell in any season,” says Seth Thompson, Broker at HomeCity Real Estate. “We also find that buyers who are looking around this time of year are serious and have a specific need to find a place to live.”
Another advantage is that there is likely to be less competition, which means there will be fewer comparable homes for sale. With fewer comparable homes for sale, it will be more likely that buyers will view your home. “The last few years my listings in the fall have actually gotten better results and more return for my sellers due to less competition and buyers still looking who missed out in the summer,” says HomeCity Realtor® Sterling Mack. “That, coupled with the fact that so many people are moving here all the time, means there is NEVER a bad time to list a home for sale.”
Supply is already critically low in our area, so the drop in homes competing for buyer attention is likely to increase the chance that your listing will get an offer. Additionally, less choice of homes on the market will mean that as long as your home is in good shape you are likely to get your asking price met or surpassed.
“Fall is a great time to list because there's less competition on the market and plenty of buyers,” says Sandra McKimmey, Realtor at HomeCity Dallas. Agents who aren’t afraid to get creative and adapt to the current season are likely to see great results. “Fall foliage makes beautiful pictures, and outdoor spaces in Texas can be highlighted as extra living space since it's not so hot. A good idea is to focus on outdoor TV's for football and fire pits for cool evenings.”
Staging for the Holiday season can also help sell a home in the fall and winter months. Simple tricks such as adjusting the color or theme of your décor or having a holiday themed aroma in the air can help potential buyers imagine themselves spending the holidays in your home.
Another benefit of selling in the cooler months? Quicker transactions; since there are fewer real estate transactions going on in fall than in the spring people are more available to help your closing push through as smoothly as possible. Mortgage lenders have fewer loans to process, attorneys have fewer closings to do, and home inspectors and appraisers have fewer appointments as well. With all of these factors considered, a closing can happen more quickly and smoothly. A quicker and smoother transaction means less stress for all parties involved.
Speaking of mortgage loans, mortgage rates right now are VERY low. The lowest they’ve been in years! It’s many economists prediction that the rates will rise very soon. Since rates are so low right now, buyers can afford more expensive homes. This means that the longer you wait to list a home, the more chance there is that you could lose thousands of dollars as it could eliminate many buyers from the marketplace, or out of the price point your asking. Less demand for your home will mean less money. Take advantage of low rates!
Bottom line: there are tons of reasons to list your home in the fall. Especially if your home is in good shape and you have a creative real estate agent on your side. Not only is your home likely to sell, but also it could sell more smoothly and for more money!