Sometimes, it really pays to go against the crowd.
As you probably know, spring is the season when most people around Calgary put their homes on the market. Summer is the high season, and it’s when most homes get sold. And yet, there are a few powerful reasons why fall might actually be a better time than either spring or summer to sell your home.
It makes perfect sense when you think about it.
By the fall, the bulk of spring listings are expiring. As a result, there is less competition, particularly when you consider the “new” label and the fewer days on the market that your listing will boast. Also, home buyers in the fall are more serious. They have been looking at listings for months, and they are eager to conclude their search and move in comfortably before the holidays.
When you put these two things together, you can see that homes listed in the fall sell more quickly and often command a higher price. In fact, fall is the season with the highest percentage of sold listings, beating out summer by 1%.
Now, if you are thinking of selling your home this fall, there are a few things you have to do differently.
First, you have to prepare your home to account for the particular fall conditions. For example, you need to check the HVAC system and replace your furnace filter so your home will be warm and smell fresh. Also, make sure to turn on all the lights; you’ve got to compensate for the shorter, cloudier days. Cleaning up the yard is also a must.
The second thing you need to do is price your home appropriately. To get started, check out the value calculator I created that takes into account recent Calgary sales to give you an idea of what your home is worth right now.
Once you have an idea of what your home is worth, how should you price it? On the one hand, the fall is not a good time to start with a sky-high price. If you don’t sell right away, you might not have time to adjust the price because of the smaller number of buyers and the shorter selling period (nobody wants to move over Christmas).
On the other hand, those serious buyers I mentioned earlier might be willing to pay more simply because they’ve been looking longer and are more eager to buy.
It’s a balancing act. It’s also something I can definitely help you with. Give me a call if you are considering selling this fall, and I’ll give you my recommendations on how to price your home based on current conditions in Calgary.