Is the Fall a Good Time to Sell a Home?

Traditionally, real estate markets have followed a spring-summer season that begins in March and April in the northern states and ends with advent of the school year. Warmer weather tends to make buying real estate easier, plus many families like to close in time to settle their kids in new schools. Changing patterns In recent years, though, the seasonality of real estate has changed. The migration of millions from colder to warmer climes over the past 40 years has extended the real estate year for many American families or eliminated seasonality altogether. Meanwhile, the power of the Internet in marketing properties means it’s easy for buyers to shop for homes anywhere in the nation at any time of year. Several years ago, economists at the National Association of Realtors analyzed the seasonality of sales and found that in most years from 2001 to 2011 sales declined steeply from the end of July until after Labor Day, then revived briskly in September until Thanksgiving. Not as many homes are sold in the fall season as the spring. Over the past 15 years, the average monthly decline has been 16.4% from July to August, but sales then level out and even increase through October. Who does a fall season benefit? For sellers, the emergence of a strong fall season extends the life of properties already on the market and creates opportunities for sellers who don’t want to wait six months to list their homes. For buyers, the fall market is a good time to shop for bargains. Sellers who listed in the spring and summer are running out of time and are more open to negotiation. New fall listings have a limited window, too. “As a result of the Internet, our hectic schedules and mobile lifestyles, the fall months are no longer a real estate dead zone. True, spring is still the busiest time overall. But there’s plenty of action happening after Labor Day through Christmas, enough to make it worth your while to put up the ‘For Sale’ sign,” says real estate consultant Brendon DeSimone. “Buyers never stop looking. A serious buyer is looking at new homes online 24/7, even through the holidays. If the right home appears, they’re ready to move. In fact, it could be that buyers in the early winter months are even more motivated than buyers in warmer months because there is less going on. They have fewer distractions and are laser focused on finding a home.” Moreover, sellers should take advantage of the season to show off their homes, says Anne Miller in Realtor.com. “If you are selling your home in the fall, you can stage your open house with the warmth of the turning season to add to the appeal. Accentuating your landscaping with seasonal decorations, such as pumpkins and gourds, will appeal to the potential homebuyers.” The bottom line? If you find that you have to sell or buy a home after the peak months have passed, don’t despair. The fall market is a time when buyers and sellers get down to business quickly.