People believe houses sell better and faster during summer and vice versa during the fall. This misconception discourages a lot of homeowners from selling during the fall, which leads to an elongation of plans. However, it’s been discovered by top real estate agents houses sell fast and at good prices in the fall too because of the less quantity of houses in the market at that time. This gives sellers a type of market monopoly, which attracts more buyers or interested parties.
Below are 4 reasons why selling your home in the fall is a great idea.
1. Less Competition
Since the fall is considered a period of real estate regression, homeowners usually take a break from listing their homes in the market. This creates a low supply with high demand. Simple economics teaches us that when demand is high and supply is low, value (price) increases due to scarcity. The demand for houses doesn’t go down with seasons, quite the opposite, it remains the same and only changes due to other factors. It means that demand is always high and real estate agents have fewer houses to show. So from the perspective of a real estate agent listing your house in the fall gives you an advantage of selling at a better price and faster since options are limited.
2. Serious Buyers
Anyone viewing your house(s) in the fall is undoubtedly serious about purchasing a new house, therefore, won’t be wasting your time or theirs. People have numerous activities jostling for their attention and time in the summer and trust me, those activities are more fun than viewing a house. However, the fall is calm and relatively less occupied. People viewing houses this season are more committed to making a purchase.
3. Faster Transactions
Professionals involved in the home selling process are usually free this time of the year, having lesser work than summer. Real Estate Agents, Mortgage lenders, home inspectors, and attorneys would be eager to take jobs and are capable of completing those jobs in no time. So, if you don’t like waiting in line, then the fall is the best time to sell your house.
4. Enjoy the summer
The summer is meant for fun activities and we are sure you already have planned activities for next year’s summer. So, instead of spending your fun and relaxation time in the real estate market, you should sell in the fall, which usually takes a lesser amount of time.