You may have heard spring and summer are the peak times to sell a house. Real estate is busy during those seasons, and the housing market cools down in the fall and winter. Still, this is not a bad time to list your property. Here are the pros and cons of selling a house in autumn.
Advantages
1. Buyers Are Serious
Buyers who missed out in the spring and summer are highly motivated to find a place in the fall. Whatever their reason – corporate relocation or the start of school – they are eager to buy and move in quickly.
2. Less Inventory
A lot of properties sell in the spring and summer, so the number of houses for sale dips in the fall. Your property, then, may stand out amidst the competition.
3. Weather is Nice
Touring houses and moving in the summer is a hot venture, sweaty too. The weather cools down in the fall, making buyers more comfortable during walkthroughs. Moving is also less taxing, and road conditions are still safe before the winter snow and ice.
4. House Shows Well
Autumn is a beautiful season. The changing leaves, seasonal flowers, and any fall décor you add enhance the curb appeal of your house. Staging the front door is easy, and aside from raking and bagging leaves, the natural beauty of your front yard will do the rest.
5. Settle into Your New Home Before the Holidays
Eager buyers plus low inventory can add up to less time your house spends on the market. Assuming a buyer makes a fast offer, and you close right away, you’ll be able to move into a new house before the holiday season.
Disadvantages
1. School is Back in Session
Fall is the school season, and moving your kids between school districts is hard enough without it being during school. Showings are also difficult if your children are home schooled.
2. Fewer Buyers
The majority of buyers found their new home in the spring or summertime, so there are not many left shopping the market. Getting their attention may be difficult, and you’ll have to compromise on some things, like the next point.
3. Lower Your Listing Price
As eager as buyers are to purchase, they know sellers are just as eager to offload their properties. So they look for lower listing prices or negotiate with sellers to pay less.
4. Time is Brief
Besides the start of school, there are the fast-approaching holidays, starting in October with Halloween. Selling a house and moving during the holidays is a nightmare, so you want to sell in the early fall months.
5. Curb Appeal (Can) Diminish
But wait: did I not say fall enhances your curb appeal? I did. To clarify though: this condition depends on where you live. In some parts of the country, the weather shifts rapidly, and foliage loses all its leaves and snow falls early.
Sell to an Investor
If you want to sell fast, before school or the holidays start, consider selling to a real estate investor. Most investors make a cash offer for a property “as-is,” no repairs or renovations necessary.
Investors do not require mortgage approval, or traditional sale warranties and inspections. They pay all closing costs and additional sale fees, actually saving you money. And they let you choose the closing date, which can be in a month, 15 days or less, giving you time to pack and move out.
