With fall in full swing, you may be wondering whether to take a chance selling your home or wait for the market to lean in a different direction. When considering selling your home, analyzing trends for the season can help you make the big, important decisions without worry.
Why Following Trends Is Effective
Trends teach you where to go. While it might not be proven for a long time or even last as long as you’d expect, a trend means that something will stay hot for a while before cooling down.
Trends can teach you early on the “correct” way to do things to maximize the benefits for yourself. Following the trends means you’re analyzing what works for other people and replicating it for yourself in hopes that you will benefit from them, too.
Trend #1: The Market Is Cooling Down
The market was so hot, especially in the early days of the COVID-19 pandemic, because more people were beginning to work from home and sought a change of scenery. Many people left the homes they knew to pursue new lives elsewhere, driving the boom of the housing market.
It’s also likely that most families settle down before school begins, but that doesn’t mean you should completely rule out selling during this season. Plenty of people move in the middle of the year. It’s all about finding the right fit for you.
Previously, houses listed for sale would be gone in record time. It wasn’t uncommon to see houses listed and sold within a month, whereas now, you might need to take a step back and reassess the timeline you think your house might be sold in. You’ll find a buyer for your home, but it might take longer than other houses of the same quality that sold in early 2021.
Trend #2: Less Hectic Timelines
Because buyers don’t have the same competition as earlier in the year, you can expect selling timelines to be less hectic. As a home seller, you will experience less stress and find that you have more time to get everything done.
It might be more challenging to find a buyer who meets all your needs, but you can at least rest assured you’ll be following every step of the process and leaving out nothing due to the extra time you’ll have.
You may have to be open to negotiation if you plan to sell during the fall. Since there will be fewer buyers, finding a serious one that’s interested in your property might take some time. Remember to include the best features of your property to attract more buyers. You’ll want them to see the best side of the neighborhood and all your home has to offer so they’ll purchase it as close to the asking price as possible.
Trend #3: Add Autumn Decor for Staging
Curb appeal is essential. When your potential buyer first browses a listing or pulls up to your home, the initial part of your property they see is the outside. Your house could be beautiful inside, but if it isn’t attractive on the outside, you may not see an influx of people inquiring about your home.
One of the best ways to increase your curb appeal is to decorate it for the season. Bring out your property’s full potential, and you’ll have more people picturing their possible lives if they lived there. Be sure not to rely too heavily on decorating for one holiday. Instead, use understated colors and generic decorations that bring out autumn as a whole rather than focusing on Halloween or Thanksgiving only.
Choosing to stick natural elements in each room may help your house seem more cohesive and prepared for the occasion. When you decorate, aim for easy changes that you can swap out almost effortlessly with each season. When you’re staging your home for fall, consider using throw pillows in autumn colors, among other decorations that you can change up with the seasons.
You want people to be able to see themselves in your home, and having too much personal decor could potentially ruin that.
Trend #4: Fewer First-Time Home Buyers
First-time home buyers make up about 29% of the buyer market, a new low since January 2019. Since there are fewer first-time home buyers in the market, you can rest assured that most people interested in buying your house have purchased a house before and are likely aware of all the processes.
You may also run across real estate investors who want to add your home to their portfolios. They may be willing to compromise closer to your asking price to secure a deal for your home.
While the buyers seem to have more power this season, you also have plenty of leverage as a home seller. Since prices are also increasing, you’ll be able to decide whether you want to lower your price to meet someone’s offer.
Trend #5: Foreclosures Won’t Affect the Market
While there may be foreclosures on the market, many buyers won’t gravitate toward them. People with higher incomes may not be looking in the same neighborhoods as many foreclosures.
First-time buyers may be more likely to look at foreclosures, but you shouldn’t be targeting that niche because they’ll make up such a small percentage of the market. Note that foreclosures will be on the market, but don’t let them psyche you out.
Home Staging & Market Trends This Fall
Though you may not see as many people competing for your property, there is a buyer that will meet your needs and create a rewarding experience for you both. You just have to hang in there until you find a buyer who’s right for you. This season is bound to change from the earlier half of 2021, but you’ll still have enough time to find a buyer who works for you.
Author:
Evelyn Long is a Baltimore-based writer and the editor-in-chief of Renovated. She covers home decor and real estate market advice for a variety of industry publishers.