Why Selling Your Home This Fall May be the Right Choice For You

It seems to be a commonly held believe among homeowners that the autumn and winter months are not good times to sell, but just because the weather is getting colder doesn't mean buyers' feet are getting colder, too. While it is true real estate sales tend to pick up in spring and summer months, getting your home on the market in the later months of the year can actually lead to a positive outcome. Of course, with every decision there are pros and cons, and it is up to you to decide what is best for you and your current situation. While there's little doubt selling your home in the spring market rush is a great idea, the fall and winter seasons may be a better fit for you, and here's why. 

There Are Serious Buyers Right Now 

Many sellers think there are not serious buyers looking during the fall and winter months, but this is simply not true! In fact, when buyers are truly serious, they look all days of the year. In September of 2019, the average days on market until sale was only 73 days in the Wester North Carolina region. In total, there were 1,032 closings across the region during September! This past September 202-, the number of days on market until sale remained steady, and the number of closings increased by 23% from September 2019 with a total of 1,276 closings. 

Less Competition 

During the spring season, there is usually a tremendous influx of inventory. Getting your home listed now and not waiting until the spring market can help you get ahead of the competition, since there are not as many homes on the market during the fall and winter months. The fewer number of homes for sale, the greater the chance buyers will look at your home since there are less options for them to choose from, and the greater the chance you will get offers. This has generally been true for the Western North Carolina real estate market for the past few years. Supply is not meeting demand, and more inventory is needed for the high number of buyers. 

Faster Closings

Generally, less real estate transactions happen during the fall and winter months in comparison to the warmer seasons. This means mortgage lenders, attorneys, and home inspectors are not as busy, which means buyers will most likely have an easier time scheduling timely inspections, getting paperwork done, and booking a closing attorney. This would work in your favor by most likely resulting in a quick closing on your home with less road bumps along the way. 

Perfect Time to Size Up or Size Down 

It is no secret that mortgage rates are at an all-time low right now. The current rates in North Carolina are 3.06% for a 30-year fixed, 2.64% for a 15-year fixed, and 3.00% for a 5/1 adjustable-rate mortgage. In the past week, the average rate for a 30-year fixed dropped to 3.03%. Therefore, if you are considering sizing up or sizing down, it really is the ideal time to sell your home and move to a new one in light of these amazing rates. 

Overall, selling your home is a big decision and in the long run, it is important to decide what's right for you.