The spring real estate market always gets a great deal of attention for being a the time to sell a house, but fall is just as good a time as any to sell your home. Homebuyers shopping around in the fall tend to be more motivated and will act quickly to allow themselves to get into their new home before the end of the year. If you’re on the fence about selling your home, here are three reasons to sell your home this fall:
1) Low Inventory and High Demand
Real estate inventory has been low this entire year, which is great news for home sellers. However, inventory is expected to drop even more in the fall since many homeowners mistakenly think that there are not as many buyers out at this time of year. That’s not true at all. Buyers are out in full force looking for homes! This means that your home will get more attention and will likely receive multiple competitive offers. Remember, low inventory also means finding your next home will be challenging, making it even more important to work with an experienced real estate professional and plan ahead!
2) Sell Quickly and for Top Dollar
In today’s seller’s market, homes are flying off the market and receiving an average of 4.4 offers. This means that most homes are also selling above the asking price. The more offers a home receives, the more selective the seller can be, allowing sellers the leverage to get a higher asking price with better terms. The current market also affords you the opportunity, as a seller, to potentially pick your closing date and possession date. If you wait to list your home, there is always a chance that the real estate market will shift, affecting your negotiation power, so it’s best to take advantage of these conditions now.
3) It’s the Perfect Time to Make a Move
Home values have increased close to 20% in some areas, meaning you’ve likely gained quite a bit of equity in your home, depending on how long ago you purchased it. Selling now means you could leverage your current home equity, using it toward the purchase of a new home and/or other investments.
In addition to the rapid increase of home values, interest rates are still low. This means that you can afford to spend more on a home today than you could a couple of years ago, even with the increase in values. So whether you are looking to downsize or upgrade, the combination of increased equity and low interest rates makes for a financially wise move. It’s also important to note that interest rates—while still at record lows—are on the rise, so it’s best to act now!
The current market also affords you the opportunity, as a seller, to potentially pick your closing date and possession date, giving you more time to move after closing. This opportunity for sellers is unique to this aggressive market and unlike what we’ve seen historically.
Ready to Sell or Have Questions?
If you’re interested in selling your home this fall or would like to learn more about your selling options, our experienced team at Dream Homes by Jen is here to help. Contact us today and let us put together a personalized strategy to maximize your earnings. But don’t wait too long…These incredible market conditions won’t last forever!