5 Reasons to Sell This Fall
Every season comes with different reasons to make a move and we are here to help you find when the best time is for YOU! As fall approaches (Or at least when it feels like it here in AZ), we will review the five reasons to sell! According to Realtor.com, "During the first week of fall, buyers tend to face 26% less competition from other buyers, and they are likely to see 6.1% more homes available on the market compared to other weeks of the year…nearly 6% of homes on the market will also see price reductions, averaging 2.4% less than their peak." So let's see what the hype is all about below!
Weather is a big deal to us here in Arizona! We have the most amazing weather out of anyone in the country. Yes, it gets very hot in the summer, which causes half of the state to flee to cooler spots to live and/or visit. But, this is short lived and completely worth the many months of beautiful weather that we have. Everyone loves fall, but in Arizona we love it even more since it marks the season of cooler weather until the next summer. Down here in The Valley, we do not have to worry about shoveling snow or freezing temps, just pure beauty until the next summer! No one else can hold a candle to this.
What else does beautiful weather mean? It means we can make a move into a new house without melting. Our moods are better, our homes smell of pumpkin spice and cinnamon. We have our fall decor out and the holidays are on their way. If you plan it right, you can settle into your new home before Christmas!
As Realtor.com said above, "During the first week of fall, buyers tend to face 26% less competition from other buyers, and they are likely to see 6.1% more homes available on the market compared to other weeks of the year…nearly 6% of homes on the market will also see price reductions, averaging 2.4% less than their peak." - This is great news for Sellers.
Buyers are still active and out in full force searching for their dream homes and this news is going to be exciting for them to get out there and find exactly what they have been looking for. If you have been thinking about selling, contact us today to see if now is the right time!
Our current housing inventory directly relates to how many days a home sits on the market before it sells. According to NAR, the average days on market have only been 31 days. When housing inventory is low and moving quickly, we are officially in a Seller's Market. This means that if your home is prepared to sell and priced to sell, it should sell within that time frame.
If you want to see where the inventory is today and have questions about selling your home this fall, contact us!
Supply & Demand
According to The Cromford Index Report -
Listings under contract gained more momentum when compared with 2018 but fell sequentially (as is normal every year). Closed listings beat last year by 6.7%. August 2018 had the maximum 23 working days while August 2019 has one less so this comparison is biased in favor of 2018 making the 6.7% more impressive for 2019 - we are doing about 11% more business through the MLS than this time last year, measured in units. Of course the average price is up over the last 12 months so dollar volume is up by almost 16%.
Demand usually subsides between July and January every year so unless there a brand new trend develops we should see new listings maintain enough momentum to keep active listing counts from falling much further, if at all. However when demand grows again again in February we can expect a mad scramble. We will probably look back on 3Q 2019 and wonder how prices managed to stay so low. Based on existing data, the Cromford® Report expects a strong upward trend in closed pricing between October 2019 and June 2020.
Whenever the season, it's important to know what type of market we are in, what the inventory looks like, interest rates and what works best for you. If you have a goal to move within a certain amount of time, we can help. Follow us on Facebook and Instagram and stay up to date with our market updates and information by subscribing to our newsletters. Give us a call with any questions!