It’s no secret, the seasons play a big role in the real estate market. As fall comes around, you may feel as if you’ve missed out on the prime of the real estate market.
Although spring is typically the busiest time in real estate, the fall market is often a close second, with summer holidays coming to an end people are ready to get back to it. There are a number of reasons why buying or selling a home in the fall can be advantageous. In this article, we’ll touch on the benefits of both sides of the fall real estate market.
For buyers, the fall market presents a number of opportunities. There are typically fewer buyers competing for homes, which gives you a little more negotiating power. There is still generally more demand than inventory left, though. But we have definitely been seeing a shift in the market where there aren’t as many bidding competitions on homes. Homes have also been sitting on the market a little longer giving you the opportunity to really get your ducks in a row before jumping in. Additionally, in the fall, closing dates tend to hold more importance than other factors as they want to avoid closing in the winter months.
While the market is shifting, it’s still incredibly advantageous to get pre-approved before beginning your search.
Sellers may also find that the fall market can work in their favor. Serious buyers are more likely to still be looking in the fall, and may be more motivated to find a home before the seasons change. Buyers are also faced with dwindling inventory as fewer houses become available as winter approaches. As a result, you may have less foot traffic overall, but more buyers who are seriously considering your home.
Lastly, make sure that you contact experts with years of professional experience before moving forward with your sale or purchase. If you have any further questions about the fall real estate market, feel free to reach out and we’ll be glad to help.