What is the Fall Market in Real Estate?
Fall is full of so many great things – pumpkins, apple picking, hayrides, Halloween and yummy baked treats…I could go on. The number of Hallmark movies don’t lie, it’s just one of everyone’s favourite times of year to enjoy.
You know what else makes Fall awesome?
The Fall real estate market.
Call it Spring’s second coming, the Fall real estate market is a fantastic time to get your home on the market. From stunning curb appeal to the cozy feeling we can create in your space to invite buyers in (because let’s be real – the smell of apple pie and cozy throws are basically kryptonite for some people!). So aside from the warm fuzzies, the GTA’s real estate market remains hot as ever, even though temperatures are falling.
In fact, CREA said in a recent press release, “Some 656,300 properties are forecast to trade hands via Canadian MLS® systems in 2021. This would be a record-setting number, and an increase of 18.8% over 2020.”
Crazy right?! So before you decide to list your home this Fall, let’s talk about what you can expect, how long it lasts and what are the real advantages of listing in the Fall.
When is the Fall Real Estate Market, technically?
Before we talk about what you can expect listing in the fall, you might be asking – wait, when exactly would you consider the Fall market to be, well Fall?
The thing is, it’s not really a definite season like the actual Fall. Roughly, it starts at the end of August, and lasts until approximately mid-November around American thanksgiving or just before as that is typically when both businesses and families start getting ready for the holiday season.
Within that time period, we have a few dates you’re going to want to avoid to make sure your home is getting the best traffic (virtual and otherwise) possible:
- The week or two preceding back to school & Labour Day (September 5, 2021)
- Days leading up to the Thanksgiving long weekend (Monday, October 11, 2021)
- Around Halloween (October 31, 2021)
By avoiding dates where buyers are less likely to be shopping, you have a better chance at fetching a higher price for your home than if you were to be less strategic about your launch date.
Statistics from the August Real Estate Market in Clarington
Just because the weather is cooling down – doesn’t mean the housing market is!
We don’t have Septembers data yet, but according to DRAR’s data from August, there’s a good signs ahead for sellers this fall. In terms of the number of sales in Clarington in August, numbers went down in August by 5% over July, though selling prices are up from this time last year by 25%. These numbers reflect the continual low inventory of Clarington and Durham’s real estate market, while buyer demand remains exceptionally high.
Also notable? Average prices for detached homes. In Clarington, the price for a detached home rose 1.91%, from $973,453 to $992,232 in August. That’s no small number, and it isn’t taking many days on the market to achieve that either. In terms of how long homes are remaining on the market, 8 days was the average last month in Clarington. That is often due to holding offers, and not necessarily that there aren’t pre-emptive offers before 8 days. Finally, we noticed last month that the trend of homes selling over ask, continued. Specifically, homes are fetching more than ask, with an average of 114% of list price last month in Clarington.
So needless to say, the housing market remains hot, hot, hot and if you’ve been waiting to sell, now is the perfect time, so let’s get into why exactly the Fall is a great time to sell your home.
Why You Should Sell Your Home in the Fall
Now that we know the Fall real estate market is typically from Mid-August to Mid-November, and how the market has been leading up to the Fall, we can talk about why exactly there is a benefit to listing Here’s a few reasons we find this time of year a good time to list:
- More Serious Buyer Pool – after the Spring and Summer rush, you’re left with potential buyers who usually want to get things signed and sealed as quickly as possible. This means you can see preemptive offers, more showings from qualified buyers than those who were ‘just browsing’. Typically, these
- Less Competition – most people list their homes come spring, and that’s a given. By the time autumn rolls around, most sellers have either sold their place or taken it off the market.
- Increased Curb Appeal – between pretty autumnal colour, delicious harvest scents and seasonal decor, Fall can make your home feel inviting and cozy to buyers, both inside and out.
- Be Home for the Holidays – buy or sell early in the Fall and you could be nicely situated in your new home in time for the holidays and before winter weather hits.
How to Sell Your Home This Fall
The first step to selling your home sold this Fall? Giving Kim a call! When you want to sell your house, Team Alldread is the choice for anyone looking to buy and sell their home in Clarington.
Trusting Kim’s over 15 years of real estate experience is the best way to ensure you have a smooth, easy sale, and her experience helping connect buyers find the perfect house to call home.
Get in Touch With Us!
Kim is a lifelong Clarington resident who has been helping families buy and sell real estate in this amazing community for over 15 years. Kim is focused on the best client experience possible. She believes in supporting her clients from the time they meet to well after the ‘sold’ sign goes up. Kim treats every client like a friend, and every deal like it’s the most important one she’s ever done.