Last month, we offered a brief overview of the seasonal trends of real estate: no matter the weather, you can usually count on the market for a few predictable behaviors (which you can read more about here). We’re particularly excited for the transitional season that is Fall for plenty of reasons—less-sweltering weather, general coziness, changing leaves, etc.—so we thought we’d expand on some of the expectations and benefits that come with it.
This is a good time for real estate that affords some unique opportunities to both buyers and sellers, and the Homeworks team is well-equipped to help you determine what that means for you.
Here are a few reasons why autumn might be the ideal time for you to either move in or move on...
ADVANTAGES FOR BUYERS:
Less Competition: Summer is traditionally a busy season for real estate, with many families looking to move before the school year begins. By fall, the market often tends to slow down a bit, which means fewer buyers are competing. Ideally, this also leads to fewer bidding wars…and potentially better deals.
Motivated Sellers: Whether it’s because of personal timelines or market conditions, sellers who list their homes in the fall tend to be fairly motivated, which can work in your favor as a buyer. Flexibility in negotiations is always a good thing.
Winter Insight: Fall provides a good opportunity to assess how a home “performs” in cooler weather. With this in mind, you can more easily evaluate the heating system, insulation, or overall energy efficiency.
Keep these tips in mind, buyers:
Get pre-approved in order to strengthen your offer and potentially streamline the process.
Inspect the home to avoid future issues, particularly with roof condition or the aforementioned components (heating and insulation) as you prepare for winter.
Be prepared to act quickly , as things can always get competitive with other buyers.
ADVANTAGES FOR SELLERS:
Serious Buyers: Those looking to purchase before the holiday season or end of the year tend to be more serious in their efforts to find the right home. For you, this could potentially mean more favorable offers and a smoother overall purchase process.
Seasonal Appeal: Homes always look a bit more appealing with some autumnal decor, falling leaves, or a cleaned-out/well-maintained garden. Use the seasonal charm to your favor…add some cozy lighting and make your home stand out. (We have a few great recommendations on this blog.)
Favorable Conditions: Of course, the market affects this all, but as we come out of summer, there are likely to be fewer new listings. This means your property could attract more attention from buyers who are still house-hunting.
Keep these tips in mind, sellers:
Enhance the curb appeal to take advantage of the season by decorating with pumpkins or embracing some changing leaves on the lawn.
Stage with coziness in mind with warm lighting and inviting scents, so cooler months seem more than livable in your home.
Hire a seasoned realtor who understands the market and can position your home to attract serious buyers.
Whether you’re looking to purchase a new home or ready to list your property, understanding the benefits and challenges of the fall market can help you make informed decisions and get precisely what you want out of it. As always, we’re here to help. Contact us anytime with questions!
Homeworks Property Lab, 66 Exchange Pl., SLC P: 801.810.8696
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