Even though the spring season ranks as the top home selling period, there are enormous benefits to selling your home in the fall, especially during this unique year. Why put off selling your home until the spring when you can take advantage of the opportunities now? There are five beneficial reasons to sell your home sooner than later.
Six Great Reasons to Sell Your Home This Fall Season
1. House prices are expected to increase this fall
According to the RE/MAX Fall Housing Market Update, house prices will continue to increase past the summer season, into the fall months. Ottawa will continue to be a hot market with consumers from all over Ontario looking for more space. Ottawa’s average residential selling price is forecast to grow by at least 3% over the remainder of 2020. Our city remains a seller’s market – strong pricing, low supply, and high demand. Luxury properties are performing exceptionally well. There is no financial downside to listing your home in September or October.
2. Buyer confidence in the real estate market continues
Consumers are continuing to look for homes to purchase in Ottawa, and they are willing to pay high average selling prices despite the pandemic. Not only is pricing healthy, but 56% of consumers remain confident in Canada’s real estate market to buy or sell homes even if a second wave of the pandemic occurs.
This year is particularly unusual as the quarantine delayed the popular spring real estate season and pushed it into the high activity summer months. It took time for consumers to adjust to quarantine and protocols, thus delaying housing transactions. We expect the fall to be an even more active real estate season than previous years.
3. Safety and hygiene is a top priority to view homes during the pandemic
During the last several months, we have tested and developed a safe method to view homes during the pandemic. Our team is committed to the utmost care and attention to COVID health and safety protocols for our clients. We no longer schedule open houses. Instead, we organize virtual showings or private viewings. Every visitor is required to wear a mask at all times, to attend alone, or as a couple without their children. Our real estate agents wear gloves, manage the opening of doors and cabinets, so contact of surfaces by visitors is minimized and hand sanitizer is provided upon entry. Rest assured plans are in place to make your home viewing safe and manageable.
4. Sell your home knowing that serious buyers are looking for homes now
Year after year, many homebuyers continue to set a popular goal to buy a house in time for the Christmas season. This year is no exception.
Whether it is part-time, full-time or virtual, kids returning to school means fewer distractions in parents’ lives. This is a great time to focus on finding the next property. With an increase of remote working professionals, there is even more flexibility with schedules for private or virtual home viewings to plan for the future. A lunch hour open house visit is much more appealing to buyers, rather than viewing homes after sunset.
5. Homes show well in the fall and highlight desirable features
The fall season highlights an emotional aspect of purchasing a home: finding warmth and ambiance. When generally mild temperatures continue in September and October, this makes home visits appealing.
The fall season also makes some aspects of home selling much more straightforward, such as staging your home for viewings. Garden maintenance in the fall is more manageable than in the summer months. Showing your home at this time can also highlight views and features that aren’t visible when trees and shrubs have leaves obstruct views.
This time of the year can showcase features like a fireplace and deprioritize an air conditioner’s absence, unlike in the competitive spring buying season.
6. Consumers are re-evaluating what home features are important to them which could positively impact your house sale
Some consumers are changing their list of top home features since the pandemic. For example, a home close to work and the city was once the most desirable feature. Now, this is no longer a priority for some buyers. In fact, according to a survey conducted by Leger on behalf of RE/MAX Canada, 32% of Canadians no longer want to live in large urban centres, and instead want to live in rural and suburban communities. As well, 48% of Canadians would like to live closer to green spaces.
When the cold weather arrives, Canadians retreat inside, and many looking for more space, especially if home-based activities, school, and work continue. In fact, 33% of Canadians would prefer more square footage in their home.
Perhaps these reasons are motivating to sell your home this fall? Schedule your home consultation today and find out how we work with home sellers in Ottawa.