Why the Next 45 Days are Crucial for Home Sellers
Sep 10, 2021 | Market Stats Real Estate Trends Selling
If you are a home seller, or you are thinking of putting your home on the market the time to act is now. The next 45 days are crucial. During the months of September and October there is usually a spike in sales of Calgary homes. This year we expect a busy fall real estate market. Here are the reasons why the next month and a half is critical for home sellers.
Short Time Frame
Most home buyers want to move before the month of December. They want to be settled before the cold weather and the winter holiday season is upon us. Because it takes a month or more to get possession of the home they have purchased, they need to shop in September and October in order to move before December. If you are a home seller, you need to be on the market now to catch the attention of these buyers.
Buyers Quickly Make Decisions
The fall real estate market happens over a period of about 45 days, from Labour day to Thanksgiving. This is a much shorter time frame than the heated market we normally experience in the springtime which lasts a few months. Buyers in the fall tend to make their decisions more quickly because they want to move before the winter. They don’t usually shop around as much as they do in the spring. For sellers this means that you have to be priced correctly and have your home in tip-top shape so that the buyer can quickly make up their mind and give you an offer. Check out these 5 Things That Will Make Your Home More Welcoming to Buyers.
Fewer Buyers In the Winter Months
There are fewer people looking for houses in the winter. Therefore, home sellers need to be on the market now when there are more buyers in the market. If you want to sell before 2022, then now’s the time to list your property!
Inventory is Low and Demand is Up
Over the last year the number of homes available for sale in Calgary has been decreasing. It’s a great time to sell when inventory is low because there are fewer options for buyers to choose from. If you are selling your home, now is when you should take advantage of the current market conditions.
Over the last year and half people have really reassessed their needs when it comes to their residence. There has been a major shift towards families moving to homes with more square footage since so much time is spent at home which we outlined in our article The Pandemic Causes an Upsizing Trend. As the weather gets colder and the pandemic rages on some buyers will decide that now is the time for a larger place to live. They want to make that change in case further restrictions are set into place.
Price it Right
If you are selling your home now’s not the time to test your pricing. Because the fall market happens over a shorter period of time and then things quiet down in the winter you’ve got to have your house listed correctly right from the start. If the price is more than buyers are willing to pay it will linger on the market into the winter months. Therefore, make sure your pricing strategy is competitive and makes sense to buyers.