As a real estate agent in the Washington DC Metro Area, I come across many home sellers in the luxury real estate market who are apprehensive about listing their home in the fall. This is understandable. Statistics show that spring is the most active time to sell a home, and as you enter the cooler fall and winter months, the market slows down. In my professional experience, however, there’s something to be said about choosing to start the home selling process in the fall. It does have its advantages.
Naturally, the circumstances surrounding why and when to sell a DC Metro Area home is different for everyone, and as an experienced luxury real estate agent, a large part of my job is giving people my honest opinion about when the best time is for them to enter the market. In the right situation, listing in the fall might be more beneficial to many luxury home sellers in the area. Here’s why:
Only serious buyers are out looking for a home. Those who are merely looking won’t be the ones out and about when the weather starts getting colder. Serious buyers, on the other hand, will be the ones you’ll be dealing with. Sure, the traffic might be slower than usual, but you’d at least know that whoever you’re dealing with has a real intention of buying. In the luxury market, things are a bit slower anyway due to the price point of the properties, but when you list at this time everyone who sees your home, no matter how few and far between, would likely be a serious buyer.
The competition goes down. It’s a well-known fact that housing supply shrinks during the fall and winter seasons. This means that the serious buyers who are out looking will have fewer options to choose from. If you choose to wait until the spring, there will be more homes listed and yours might not sell as quickly.
The entire process might move a little faster. During peak season, when banks are inundated with loan applications and refinancing requests, the contract to close process moves much slower. In the fall and winter season, activity at the bank slows down a bit, meaning that you can find a buyer and close the deal in a timelier fashion and move on to the next step of your life.
The peak real estate season certainly has its advantages, but for a luxury seller, the appeal of a serious buyer is certainly a great reason to consider listing in the fall or winter. As an experienced real estate professional in Washington DC’s Metro Area, I have seen many people find success by listing during this time of year. It’s all about how well the circumstances line up for your family’s needs.
If you have any questions about buying or selling a home in the Metro DC area real estate market, don’t hesitate to contact me and ask! I’d be happy to help you in any way that I can. I hope to hear from you soon!
Melinda Estridge
The Estridge Group-Long & Foster Real Estate, Inc.
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