SHOULD I BUY OR SELL IN THE FALL/WINTER MARKET?
The peak real estate season typically runs from March to June, and recently a small Fall peak between the months of September to October. Most sellers want to list in the peak market of the season, however, there can be some benefit to listing in the Fall/Winter as well.
Some things to consider when thinking about listing your home in the shorter Fall Season:
Price Matters – While selling your home for top dollar is always a priority a shortened selling season makes it even more important to get your pricing right the first time. Utilizing a knowledgeable agent who can guide you to in targeting the right price the first time you list will be invaluable to getting it sold quickly
-Less Competition – Your real estate agent will be able to guide you to determine the comparable market value of your home based on the recent home closings. And although the potential for multiple offers, bidding wars and possible inflated value can make the Spring market alluring having more direct competition can necessitate pricing your house lower, with lower inventory available in the Fall Market the possibility of attracting the right buyer and a quicker closer makes the Fall season an attractive option as well .
Homework- Know what you want and the areas you specifically want to look. Be ready to pull the trigger as soon as you find it. Since the Fall season is a quick time frame and the inventory is more limited buyers should be doing their homework to prepare as much as possible to make a decision and move quickly to an offer when they find it. Working with a buyer’s agent who knows the market and target pricing can help you navigate what is a good price for the area and type of home you are looking.
-Less Competition – This is an advantage for the buyer as well. Less housing flying off the market at inflated market values, and less direct competition with other buyers can give you a chance to not feel pressure to put in higher over ask offers to secure the property. You may also benefit from a faster close.
Buying and Selling in the Fall can still be an option if you’ve missed the Spring Season of real estate. There are still opportunities out there for both buyers and sellers.