Timing the market is challenging, whether we’re talking stocks or real estate. At least in real estate we can distinguish selling trends that coincide with each of the four seasons. But trends don’t guarantee your expected result. As fall approaches, you might be in a situation where you truly need to sell your home or you want to sell so you can get into your next home faster. Don’t worry, there are buyers for every season. Homes are sold 365 days a year. While there are usually fewer buyers in the fall than in spring and summer, you only need one buyer to make a sale. You may be surprised to learn about some upsides from a fall sale.

1. Fall buyers tend to be more motivated buyers. People in no hurry to move who searched in the spring or summer often stop looking as fall approaches. But the most serious buyers are going on showings all year round. Whether they have to move or really want to move, they’re dedicated to their search. Seasons don’t stop them.

2. There’s less selling competition in the fall. Most sellers like to sell in spring and summer because of the rush of potential buyers. The downside is that they find a lot more selling competition in their own neighborhoods. If you’re selling in the fall, you’re not likely to have as much competition from owners on your street or the surrounding neighborhood. There’s a simple supply and demand advantage. For the serious buyer who needs to buy, there’s less inventory available to them. If your home is the right one for them and there’s little else to choose from, they will be more likely to purchase and agree on a higher price.

3. Closings are likely to happen faster. Because there are not as many transactions happening as in spring and summer, third parties such as lenders, title companies, and inspectors aren’t as slammed with client transactions. Delays caused by any of these necessary parties in a home sale can be stressful and frustrating. With the increased availability of these parties, you have a better shot at timely closings.

4. Buyers want to buy quickly while the record-low mortgage rates last. As was mentioned at the beginning of this article, timing the market is tricky. Right now we’re still at record-low mortgage rates, meaning people can afford more expensive homes. But no one can be sure when rates are going up again. Waiting for the spring market could be dicey if rates start to go up in the meantime. Serious buyers are often motivated by the financial edge that current low rates provide. As a seller, you’ll also want to take advantage of low mortgage rates when it’s your turn to buy.

5. The fall is a great time to show off an attractive neighborhood. If you’re in a neighborhood that loves fall decorations, this is a great season for buyers to enjoy seeing colorful mums, pumpkins, and other outside adornments. Many buyers are attracted to a community feeling of festivity. If you’re neighborhood doesn’t fit this description, there’s no reason why you can’t make your home pop out among the others with your own fall décor and enlist just a few other neighbors to do the same. Another type of neighborhood with a fall advantage is one with mature trees that are turning bright shades of yellow, red, and orange. You never know what inviting qualities might tip the scales for a buyer. A festive neighborhood and mature trees are definitely bonuses that many buyers like.
One caveat is that it’s important to price your home right when selling in the fall. While this is true for all seasons, overpricing can hurt you even more in the fall since there are fewer buyers. You want to take advantage of that short supply and high demand situation within the fair market value price range. Even with low inventory available to them, buyers often turn away from sellers who’ve priced themselves off the charts. In the long run you’ll end up slashing your price and buyers will want to then negotiate down further if your home has sat on the market for more than a few months.

Use these factors to help determine whether selling in the fall is the right move for you or if it’s better waiting until the spring season.

Platinum Service Realty