Common wisdom in real estate is that Summer is the prime time to sell your home. There are benefits to selling at other times of the year that came make up for the warm weather rush. Here are 5 big reasons to consider an autumn sale.
#1 Demand Remains Strong
The latest report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready to buy now, and are well qualified. In some areas of the country, multiple buyers may compete for the same home, which is a big advantage when negotiating your home's sale.
#2 Less Competition
Inventory of homes is remains under the 6 month supply that is needed for a normal market. This means that there are not enough homes for sale to satisfy the number of buyers in many areas.
For many years, a homeowner would stay an average of 6 years in their home. In the last decade, that has increased to 9 or 10 years. Recent economic changes led to many homeowners feeling unable to sell. As the supply of homes continues to remain low, more homeowners should be able to make a move.
The Process Will Be Quicker
Today's competitive environment has forced buyers to do all they can to stand out from the crowd - including getting pre-approved for their mortgage financing. This makes the entire selling process much faster & simpler, as buyers know exactly what they can afford before shopping for a home. Many lenders are able to expedite their process during as the number of transactions they are handling decreases.
Now is a Great Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you're planning on selling a starter or trade-up home and moving into your dream home, you'll be able to do that in the luxury or premium market.
It's Time to Move On
Why are you considering selling in the first place? Is it worth "waiting until next year"? Only you can answer these questions, but don't let the old story that homes only sell in the summer deter you - Fall is a great tine to Sell!
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