September 26, 2024
While autumn isn’t typically the peak selling season, it can still be an excellent time to list your property. If you’ve missed the prime spring window, consider the unique advantages and challenges of selling in the fall.
Advantages of Selling in Fall
1. Reduced Competition
High interest rates have kept many homeowners from listing their properties. Those who refinanced during the record-low rates of 2020 and 2021 are hesitant to sell, resulting in fewer homes on the market. This makes fall an ideal time to sell. With less competition, you may find it easier to secure your asking price, and your home might even attract multiple offers, potentially driving up its sale price.
2. Increased Buyer Focus
Summer is often busy for families, filled with travel and activities, which can distract potential buyers. As the holiday season approaches, buyers are more likely to focus on their home search. Fall provides a quieter environment, leading to more serious inquiries and committed offers.
3. Favorable Weather
Fall enhances curb appeal with vibrant foliage and seasonal decor. The pleasant weather makes home tours more enjoyable. In warmer southern states, fall can even align with peak selling seasons due to milder temperatures and lower inventory. Listing your home earlier in the season can result in better sale prices, especially if it’s well-maintained and staged.
Disadvantages of Selling in Fall
1. Longer Selling Times
Fall is not a peak season for home sales, which can lead to longer selling times. Families often prefer summer moves, resulting in fewer buyers in autumn. Additionally, buyers who missed earlier opportunities may wait until year-end for financial reasons, such as holiday bonuses for down payments.
2. Potential for Lower Sale Prices
A longer time on the market can lead to lower sale prices. If your property lingers, buyers may perceive it as less desirable, leading to lowball offers. Listings over 45 days old might raise concerns for potential buyers, giving them more bargaining power.
3. Limited Curb Appeal
While fall can be a great time to showcase your home’s exterior, timing matters. As the season progresses, landscaping may decline, and fallen leaves can create more cleanup. To minimize work, consider listing your home earlier in the season, ensuring both your yard and interior remain well-maintained to attract buyers.
