Conventional wisdom dictates that Spring market is the best time to sell your home. And since Labor Day is the unofficial end of the summer season, you may be thinking that you’ve missed your opportunity to put your home on the market.
But that isn’t necessarily the case. While families with school-age children generally tend to move when school is out of session for the summer, that doesn’t mean everyone else follows that line of thinking. If you’re contemplating putting your home up for sale after Labor Day, here’s what you need to know.
There are fewer homes on the market
Summer is the high season when the real estate market is flooded with the most inventory. By putting your home up for sale after Labor Day, you’ll have fewer homes with which to compete. Some buyers who didn’t find what they were looking for over the summer will be glad to see new listings, while buyers without school-age children may just now be deciding it’s time for a move. And there will always be people who need to relocate for work. This timing could very well work in your favor.
Price it right
With fewer buyers looking for a home after Labor Day, you’ll want to make sure you price your home correctly the first time. If not, you could lose potential buyers who might otherwise be interested in your home. Be sure to research comps in your neighborhood, and work with an agent who is an expert in the local market. Pricing your home right from the beginning will help keep it from languishing on the market for too long.
Give your home a makeover
It’s easy to make a home look great in the spring and summer, when sunshine is abundant and flowers are blooming. It can be a little more difficult when days are dark and trees are bare. Be especially aware of what your home looks like on both the inside and the outside in order to make the best first impression.
On the outside, be diligent about fall chores like raking leaves, cleaning gutters, and pruning trees and shrubs. Check the roof for missing shingles and replace them as needed. Spruce up your porch with pots of winter annuals like mums or pansies. You can even put out some seasonal decorations, but don’t go overboard. Keep it minimal and tasteful.
On the inside, give your home a thorough cleaning and clear out personal belongings like family photos. If you have large or bulky furniture, move them to storage and arrange what’s left to maximize flow. Give your rooms a fresh coat of paint in neutral colors and remove heavy curtains to let in as much light as possible. Set out fresh flowers and light some candles. If you have the budget, consider hiring a professional staging company to make your home look as welcoming as possible. You want any potential buyers visiting to be able to imagine living in the space.
If you’re thinking about putting your home on the market after Labor Day this year, don’t worry that you’re too late. In Montgomery County, Pennsylvania, as of July 2016, inventory is down by 20% from 2015 and settlements are up by over 5% in the same period. Follow the tips above to make the most of your listing, and you could have your home sold before the end of the year! Contact us to help you!
Angela and Rick