Fall: A Fair Weather Market?

Fall: A Fair Weather Market? 

As the leaves change color, the temperature drops, and “sweata weatha” begins, the housing market tends to cool off as well, which could translate to a better home-buying experience for everyone.

Don’t worry sellers, there’s plenty for you to capitalize on as well during the fall months and prepare to put your home on the market in 2022. Here are just a handful of reasons fall is still a great season for real estate:

1. More reasonable prices- There is still low inventory, historically speaking, but now that the rush of summer sales is over, prices in the DMV have stopped climbing. You should have more negotiating power in the fall, even despite how intense the market has been over the last two years; some of the inflated prices that the summer rush have stabilized  to the more expected price point for house size.

2. Lower stress- Fewer buyers in the market usually alleviates some stress for many buyers as well. Typically, people are in a hurry to move before school starts for the majority of home-buyers that have children and not have to upheave their children in the middle of the school year. If you’re a single buyer or a couple without kids, you’ve got a lot less competition from families right now.

3. More attention on you- Fewer buyers also translates to more calculated offers written by you and your agent. Those buying and selling now are serious and more negotiations tend to take place in the fall as many may have to relocate now due to a new job. Will Lawrence, East + Ivy Buyer Agent, summed up the difference in seasons: “In the spring we were writing upwards of 10 offers for one client, versus now, we have less competition and when we put our best foot forward on the first try, we are having a lot more success with winning the first or second home of choice.”

4. Mortgage rates- The mortgage rates are still low, too! Expect them to steadily climb, but if we’re talking historic numbers, the average rates right now are still incredible!

5. Home Improvement Sales- Sellers, for you there’s good news as well. Fall means all of the end-of-the-year sales are coming your way. You can save on most things from home appliances to kitchen sinks. As retailers compete for business from Black Friday on, you can literally cash-in on the savings and increase your home value in the process. Then you’re ready to put your house on the market in the coming year. 

6. Serious buyers- Because it’s still considered the “off-season,” those selling and buying now are serious. They’re not selling on a whim or purchasing on a whim either. This seemingly small fact can make a big difference when it comes to sitting down for negotiations. 

Still not sure if now is the right time to buy? Talk to your favorite real estate agent today about the market right now for your area. Let your agent guide you. Don’t have an agent yet? Give us a call!