It's Still a Seller's Market: Advantages to Listing Your Home This Fall

This autumn is a good time to list; pay attention to practical details to boost sales prices even further

Spring and summer are often the busiest times of year in the real estate business, but autumn can be a great time to list your home—particularly this year.  Inventory remains low and as year-end approaches the seller’s market persists.

This means the likelihood of receiving multiple offers is high. 

“Securing a home is still a major challenge for many prospective buyers,” notes Lawrence Yun, chief economist at the National Association of Realtors (NAR), in a recent press release.   “A number of potential buyers have merely paused their search, but their desire and need for a home remain.”

Still, autumn home shoppers are serious, despite the reticence of some buyers--the search pause is related to low inventory.   NAR notes inventory for August remains at a 2.6 month supply: down 1.5% from July and 13.4% from the prior year.   In more balanced markets, inventory sits at around a six-month supply.

Meanwhile, prices are up 14.9% overall from August 2020—“114 straight months of year-over-year gains.” 

On average, homes were on the market for only 17 days in August; 87% of properties closed in August having been on the market for under a month’s time.

Even without the advantages the current housing market presents for sellers, autumn offers four other great reasons to list, according to Freddie Mac:

·         Serious buyers are shopping as consumers hope to find a home before the holidays and winter weather.

·         Less competition means sellers will find “more power to sell your home on your own terms.”

·         Autumn is a pretty time of year; sellers can take advantage of seasonal ambience to boost curb appeal with fall foliage and cozy décor.

·         Fast closings are possible because given the overall fewer number of transactions mortgage lenders, appraisers, inspectors and others aren’t as busy.

Little things can make a big difference in sales price, even with lesser competition.  Pay attention to practical details related to the season.  Suggests bobvila.com, make sure the furnace is in working order and that the home is “welcoming and toasty warm.”  If a fireplace exists, clean it, and consider lighting a fire on chilly days.

To enhance curb appeal in autumn, give the windows a good cleaning, make sure the leaves are raked, and cut dead vegetation from the landscape.  And, don’t forget to “keep it light,” shorter fall days mean it is important to have adequate exterior lighting, and be sure to keep all interior lights on during showings.

Post authored by Lora Bray.

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