Looking to sell your home but you missed this year’s Spring season? There is actually no need to panic because Spring is not the only prime selling time. Fall is another great opportunity to sell your home. All it takes is a little bit of prep work, some smart planning and the right tools to pull off an even bigger sale than in the Springtime. You can maximize your real-estate gains this fall and ultimately get more money in your pockets without waiting for the next Spring season to roll in. Here are our Top 3 reasons why selling your home in the Fall actually means more money in your pockets!
1) Less Competition
Most people list their homes come Spring, and that’s a given. However, it’s not always the best decision to list your home during the most popular selling seasons. By the time Autumn rolls around, most sellers have either sold their place or taken it off the market. The reduced inventory (lower supply) also means fewer options for buyers, and that in and of itself can potentially lead to a more competitive price for your home since there is less supply.
Below are a couple of charts that will help illustrate how the market performs. Pay attention to the numbers in orange.
The charts above clearly demonstrate that October yields some of the highest average selling prices in real estate over the last few years.
Year after year, homes have always sold for more money in October. After the busy Spring and early Summer market, prices will usually start to dip, will stay low throughout July, August, and September. It will spike once again in October during our Fall market. The month of December is usually one of the slowest months of the year (everybody is in vacation mode!). The market will stay very quiet during the Winter months (December, January, and February), as most people do not want to look at homes when temperatures are in the negatives, with snow sometimes as high as their waists.
Keep in mind that September is a critical time to properly prepare your home to be listed on the market in order to capitalize on the higher attainable price points in October. If you miss this boat, you’ll have to wait until the following Spring.
2) More Serious Buyer Pool
Buyers are in decision-making mode. The best thing about selling your house in the Fall is that you’re dealing with a more serious pool of buyers. By the time September comes around, serious buyers will be feeling the pressure to make their move before the holiday season or before the harsh winter weather hits. Knowing how to attract these buyers is very key to you selling your property for top dollar!
3) Stronger Buyer Demographics
Families are likely not going to be your potential buyers during this time of the year. Autumn is when both empty-nesters and Millennials begin looking for new properties. Many homes that work for a family can work just as well for empty-nesters, young professionals or couples who don’t have children.
Stage your house to appeal to this Fall buyer demographic. If you don’t know where to start, that’s where we step in – contact us to find out how our team of professional stagers can help you achieve the right look and to attract the right buyers. You get FREE professional home staging when you list with us – taking the stress out of your selling process!
The Wrap – Evidently, there are a lot of important things to consider when preparing your home for sale, and we’ve done this an abundance of times. If you want to know the secret sauce to getting top dollar for your home, give Amy on the PPTO Team a call at 416-670-7780 or email amy@primepropertiesto.com to schedule a quick yet highly insightful 10-minute chat. Cheers!
Amy Vu
Broker and Vice Chair of TREB Arbitration
