Spring may have higher demand, but it also comes with higher inventory. Your home listing in the fall means less “competition” for you and possibly a better offer. Make sure you have done a great job of addressing curb appeal, staging, and cleaning to help your home really shine.
Buyers who are shopping for a new home in the fall or even in the winter usually have a strong reason to do so. Their motivations could include a recent job transfer, a desire to have their kids in a new school prior to mid-year breaks (or, if it’s early enough in the season, before school starts), or wanting to celebrate the holidays in a new space.
With more families wanting and needing multi-generational living spaces (think of the sandwich generation with both teens and aging parents sharing a home), the search for a home could be a longer process, pushing the process beyond spring’s peak.
Often times, sellers will be encouraged to pull their home off the market for the winter holidays. This means inventory will drop and then surge again in the spring. Shopping for a home in the fall will allow you to see houses before the flood of showings after the holidays.
Sellers who keep their listings active in the fall usually have a motivating factor behind their decision, which can benefit you. While it isn’t fully a buyer’s market, because they likely have less showings, they may be more open to accepting your offer.
Buying a home in the fall has several time-sensitive benefits. Your first mortgage payment won’t likely hit until the new year, and you may celebrate the winter holidays in your new space and buyers who purchased in October paid nearly 3% less than in other months. You can also get into your new home right in time for the end-of-year sales on appliances and electronics – bonus!