Spring is considered the most popular time to list a home, with home sales usually peaking around June. If you’re looking to sell, you may wonder if you’ve missed the boat by the time September rolls around. And if you’re looking to buy, you may consider waiting until the competition dies down after school starts. The reality is that the fall market has benefits and drawbacks for both sides.
Pro: Potentially less competition
In general, fewer homeowners tend to list their homes in the fall. Less competition means that your home will stand out more to buyers, making autumn a good time to list a property. You may be able to get more than your asking price or even get multiple offers if there aren’t many properties available in your area.
Con: Longer market times
While there are fewer active sellers in fall, there also are fewer active buyers, so listing during the season could work against you. If people aren’t looking for homes in your area, you may not get offers quickly. You may need to consider that potential buyers who waited out the spring and summer markets may be willing to hold on until the end of the year or even the next one.
Pro: More motivated sellers
The fall market also can be beneficial for buyers. The homeowners who remain on the market or are newly listing their homes are usually serious. They may need to relocate quickly or close before the end of the year. This can give you better negotiating power when it comes to price and concessions.
Con: School has started
For families, it can be difficult to move after school begins. It can add more challenges and stress, and parents likely will want to avoid forcing their child to change schools if possible. Busy fall schedules also mean it may be more difficult to make time for showings. The inconvenience may mean your home remains unsold for longer.
Pro: Lower moving costs
Spring and summer are peak moving seasons, and with the demand comes higher prices for professional services. Once fall arrives, the need for movers will drop, and so will prices. You may find that other services—such as real estate agents, lenders and inspectors—also have lighter schedules in the fall, so the transaction process can move faster and more smoothly.
Con: The holidays are coming
Fall is the start of the busy holiday season. That means family commitments, travel and other activities that can stall negotiations or delay transactions. From a seller’s perspective, it also means limiting your holiday decor. Keeping your home showing-ready will mean skipping Halloween and Thanksgiving decor, and if your home remains on the market long enough, you may have to limit how much you deck your halls for Christmas.
Pro: Curb appeal-boosting weather
Is there anything more aesthetically pleasing than fall? Colorful leaves, seasonal flowers and beautiful temperate weather, your home is going to look its best during the autumn. Your curb appeal will be at its peak, and so will buyers’ interest.
Con: Lower listing prices
Just like the weather, the housing market tends to cool off during the fall months. Unfortunately for sellers, this drop in demand often means a drop in prices as well. So, if you’re considering listing your home on the pricier side, you may want to think twice before adding that extra zero. The silver lining? If sellers are also buying a home during the fall, they’re more likely to score a good deal on a property.
