Spring and summer have flown by and we are already moving into fall. As a Realtor ® people will say, “I missed the summer / spring selling window … is it still a good time to sell?”. My response is an enthusiastic ABSOLUTELY! Fall is actually one of my favorite times to sell a home. As we move into the end of the year, I want to share some statistics that will help you be more prepared to make the jump and sell this fall!
According to data from the Utah MLS, in the first six months of 2019, 3,737 homes were sold each month. In 2018 there was an average of 3,931 homes sold the last six months with an average of 45 days on market. October last year grossed sellers the highest average sales price (over $10,000 the annual sales average). While spring gets all the love as “the time to sell”, fall is actually right up there as one of the best times of the year to sell when looking at days on market and total selling price.
As you consider getting your home listed this fall or winter what are some of the challenges and opportunities you might face?
Fall in Utah is traditionally a great time to sell. The current market trends are pointing in a positive direction to list your home this fall.
· Less inventory and competition from people selling family homes
· There is more available data from spring and summer to support your sales price
· Serious buyers typically shop in the fall and want to close before the holidays
· Costs for fixing up your home get lower, and you’ll have more access to professionals to help you as their busy season ends.
· Fall in Utah is beautiful and a great time to show your property!
· After a slower summer, the numbers of buyers in the fall typically increases
· Safety increases as prime season for home burglaries end
· Buyers can get more demanding if there is less competition for your home
· Market demand slows compared to the late spring and early summer
· Curb appeal disappears for some homes as grass dies and leaves fall
· Heating costs go up as you keep your home warmer longer for house hunting
Like the cold weather, most people shiver when thinking about selling their home during this time of year. And, while we do see less traffic during these months, in Utah 3,128 homes sold on average during these months last year (that’s still 20% of the total homes sold in 2018).
· Highly motivated buyers who want to close before the year ends to take advantage of tax breaks or to get in before the holidays
· Less inventory means lower competition for buyer attention
· Relocating buyers need to find a home to start new jobs or take other opportunities in December, January or February
· Giving your home a holiday feel helps buyers envision living there during that time of year
· Snow can cover some of the uglier features in your yard — at least until it gets tromped into mud
· Some buyers try to use the timing of the year to get a deal from sellers
· Curb appeal isn’t the best, and snow-covered landscapes are harder to see
· People are focused on the holidays and hibernating for winter
· Days are shorter everywhere and colder in Utah
· Moving after you sell is harder in the winter, especially around the holidays or in coldest months of the year like January and February
· It may be tough to get major renovations done
· Inconvenient to keep your home ready-to-show while enjoying the holidays
People successfully sell all times of the year and we can help you too. Now that you know the pros and cons of selling your home during the remainder of this year, get connected to a great agent to help navigate the home sales path. With the Nokes Allen Team at Discover Realty we will:
Give you tips and consistently communicate with you to prep your home successfully for the market
Analyze data to effectively price and position your home
We will pay for interior designers, cleaners, and professional photographers to show off the best features of your home
Aggressively market your home to thousands of agents and buyers, use traditional print advertising campaigns, open houses, and also maximize exposure through multiple social media channels
Actively find a buyer for your home
Manage the transaction and negotiate the intricacies of your home deal to keep the buyer locked in
Close the deal and help you achieve your goals
Don’t shy away from selling your home during the changing seasons! Give us a call (801.430.5444) to set up your free, no obligation, in-home consultation. We can help you achieve your home ownership and lifestyle goals!