If you’re wondering if this is the right time to put your house on the market, consider that fall offers some unique benefits that can make selling your home during this season a smart move.
As a Realtor® in Collin County, I’ve always said, “I work all year round.”
People buy and sell homes every day of the year. It’s also true that the market reacts to events, holidays, school, and the economy. And we have a lot of those things coming up!
5 Reasons to Sell This Fall
1. Serious Buyers Are on the Move
During the fall, buyers are often more serious about purchasing a home. Unlike the summer crowd, which may include more casual lookers, fall buyers typically have a clear purpose.
They might be relocating for a job, looking to settle before the holidays, or taking advantage of the year-end financial benefits. This means that showings are more likely to result in offers.
The latest 2024 Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the country. Considering Texas is a prime relocation destination, this bodes well for us.
Buyers are ready, willing, and able to purchase and are now in the market.
2. Take Advantage of the Current Buyer Activity
Housing inventory is still under the 6-month supply—Collin County has less than a 4-month supply, and statewide, according to the Texas Association of Realtors, we have 4.6 months’ inventory. While we’ve passed the days of lightning multiple offers, there is still a reasonable demand.
Historically, homeowners stayed an average of six years in their homes. In recent years, that number has hovered between nine and ten years.
Many homeowners have a pent-up desire to move. Over the last few years, they could not afford to sell due to lower-than-usual inventory and higher interest rates on new mortgage loans, making their destination questionable. As home values continue to appreciate, more homeowners will be able to move.
Many homeowners were reluctant to list their homes, fearing they would not find their next home. That is all changing as more homes come to market, and buyers’ choices will continue to increase. Don’t wait until additional inventory comes to market before you sell.
3. The Process Will Be Faster
Today’s competitive environment has forced buyers to do all they can to stand out, including getting pre-approved for their mortgage financing.
This makes the entire selling process much faster and more straightforward, as buyers know what they can afford before shopping for a home.
The fall of the year creates motivation that can translate into smoother, faster transactions. Lenders, real estate agents, and title companies are working toward fourth-quarter sales. As a seller, you might find that the process moves along more efficiently, with all the pros working to finalize sales.
4. There May Never Be a Better 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 in the higher price ranges.
If you’re selling a starter or trade-up home and moving into your dream home, you can do that in the luxury or premium market.
According to CoreLogic, prices are projected to appreciate less than 5% over the next year. Waiting to move to a higher-priced home will cost you more—both in down payment and mortgage dollars.
5. It’s Time to Move on with Your Life
Consider why you decided to sell in the first place and determine whether it is worth waiting.
- Is your plan to be closer to family?
- Will moving give you the freedom to go on with your life?
Perhaps it is time for you and your family to move to a new home this fall.
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