Labour Day marks the end of strolling through Open Houses, casual drives through New Neighbourhoods, and searching for the areas closest to the best Doctors and Schools. But does that mean that once September hits, the Real Estate Market comes to a hault? Find out who has the advantage below:
Home Sellers: Many Sellers ask us if they should take the sign off their lawns for the autumn season. While many sellers have sold in the spring and summer, your home will have less competition in terms of available inventory - giving you the advantage. The truth is, that many Buyers want to be settled into their new homes before the school year begins, so any families that are willing to move after September tend to be very serious Buyers. It can definitely be a hassel trying to keep the house clean and entertain showing appointments around holidays like Thanksgiving, but some Buyers will have more of an emotional connection to a home that is decked out for the holiday season.
Home Buyers: Those of you who want to avoid multiple offers, the fall is definitely the time to house hunt. With many buyers snatching up homes in the warmer months, you can shop with a little more breathing room. Home Seller's who have had their homes on the market since the summer may be starting to get worn-out, giving you an upper hand at the negotiation table. On average Buyers pay an 2.6% less than market value in October*. Bonus: Rainy season makes leaky basements and ceilings more apparent.
Check Out This Chart To Compare Advantages From a Buyer and Seller in Fall
*based on RealtyTrac's analysis of more than 32 million home sales over 15 years.
Thinking of making a move during the fall season? Call for the best strategies as a Buyer or Seller 416-419-8628