The frenzied spring and summer selling season is over, and many homeowners believe that putting their home on the market now would simply be a waste of time. After all, most buyers won’t be back until next spring, right?
While the spring/summer season is prime for buyers, there are many reasons for sellers to list their homes home now — and for buyers to get started house hunting. In fact, this can be a beneficial time to dive into the market.
Among the advantages for sellers:
Inventory is low. There are fewer homes on the market this time of year, which means less competition.
People are relocating: As corporate employees relocate, among others planning a move, these people are highly motivated to find a new home before the holidays.
Fall buyers are serious buyers. People looking for homes this season aren’t just flirting with the idea of buying; they are serious. You won’t find yourself entertaining a series of people who are just looking.
If you have a marketable house, it will sell regardless of the season. The best homes sell well at any time of the year.
Advantages for buyers:
There’s less competition. This past summer saw tremendous competition among buyers, with many making offers far above the asking price. In this season, there are fewer buyers, so the bidding frenzy is likely to die down.
Homes that didn’t sell over the summer will be priced to move. Sellers whose homes are still on the market after the summer months are highly motivated to sell before the holidays.
Sellers are more serious. This time of year sees many estate sales, homeowners moving due to job transfers and so on. These people need to sell quickly and tend to be more amenable to negotiation.