The leaves are changing, yellow school buses are shuttling children to and from school twice a day, and pumpkins are popping up in stores and on front lawns. Yet there’s more to fall than just seasonally spiced lattes and gourds galore: it’s also a great time to put your home on the market. Three factors contribute to home sales in the fall: seasonal influences, year-end tax incentives, and inventory differences.
Tis’ the season- to sell your home or vacation property, that is. Fall showcases the beauty and majesty of the Smoky Mountains, tugging on the heartstrings of buyers. Who doesn’t want to snuggle up with a steaming mug of apple cider, curl into a chair by a cabin window, and watch orange and red leaves drift to the ground? Fall is sweater weather, when weary travelers can really picture themselves leaving hot and humid locales behind for the crisp mountain air. Sevierville, Pigeon Forge and Gatlinburg are likely the answer to their quest for a new home.
Fall also brings out a different breed of buyer. Less people are browsing, as fall is a busier time for many families. That means there are more serious buyers scouring the market and attending showings. Some house hunters are also looking to buy before the end of the year. Buying a home has many tax incentives, but they have to close before the end of the year to tax advantage of them next tax season.
Although fall is the second busiest time of year for home buying, fewer homes are put on the market in the fall. Many people hold out for the spring rush, which means your listing will be featured as new for longer. Some sellers take their homes off of the market if they haven’t sold by fall; less inventory means more buyers competing for your house. Since fall isn’t the busiest season, processing times at lending institutions may be less, as well as the wait for home inspectors and appraisers to have appointment times.
The best time to sell is when you’re ready. If you’re ready in the fall, that’s when you should list your home. For more information on selling with the Jane Terrell team, visit us here.