Why Fall is Becoming the New Sweet Spot for Selling Your Home

While spring is traditionally seen as the prime season to list homes, the fall market has been gaining momentum. Here’s why this season might be the ideal time to sell, especially if you’re looking for a strategic advantage before 2025.

1. Less Competition Among Sellers

Fall naturally sees fewer listings compared to the bustling spring market. This decrease in competition means your home stands out more to serious buyers, who are still active in the market. With lower inventory, there’s a better chance of your home selling at or above asking price. For example, in Colorado’s competitive housing market, 30% of homes sold above the listing price in April 2024.

2. Active Buyers Remain, Despite the Seasonal Shift

Contrary to popular belief, buyers remain active in the fall, especially serious ones. These buyers may have been outbid during the spring or summer and are motivated to close before the year ends. Colorado’s housing market, for example, has seen sustained buyer activity even as the market transitions toward more balance. A 4.7% year-over-year increase in home sales in April 2024 shows buyer interest remains strong despite higher interest rates.

3. Colorado's Real Estate Dynamics in Play

A look at Colorado’s housing market, which mirrors broader trends, supports the shift towards fall home sales. Colorado’s market, facing high prices and low inventory, remains a seller’s market, with a median sale price of $621,800 as of April 2024. The lack of inventory means homes spend an average of just 25 days on the market, making it ideal for sellers to take advantage of eager buyers before potential market adjustments.

4. Weather and Curb Appeal

Fall is the perfect season for presenting homes in a cozy, inviting light. Changing leaves, cooler temperatures, and natural lighting can enhance a home's curb appeal. Buyers often make emotional connections with homes that appear welcoming and ready for the colder months ahead.

5. Changing Mortgage Rates Could Favor Sellers in 2024

Interest rates are a significant factor in the housing market, and while they have remained elevated, there’s hope that rates may adjust in 2024. Should rates decline, more buyers may re-enter the market, increasing demand. Colorado’s current 30-year fixed-rate mortgage is 7.34%, but this is expected to adjust as economic conditions stabilize. Sellers who capitalize on listing their homes now, before further rate changes, can capture the attention of buyers eager to lock in current rates before potential increases in 2025.

6. New Listings and Inventory Trends

Recent market data shows that new listings in April and May 2024 have led to an increase in available inventory, which is good news for buyers, but still leaves room for sellers to capitalize on higher prices. The broader U.S. housing market is still experiencing a seller’s market, as there remains only a 2.9-month supply of homes, well below the balanced 5-6 month supply.

Conclusion

If you’ve been waiting to sell your home, now is the time to take advantage of the fall market. With fewer listings, strong buyer demand, and rising home prices, you have a great chance to make a competitive sale. Colorado’s unique market dynamics only underscore the national trends making fall a prime selling season. So, don’t wait until 2025 - list now and seize the opportunity before the market potentially shifts further.

Travis Davis | 720-202-4419 | [email protected]