Why Now Is Not the Time To Take Your House Off the Market
October 9, 2024
Has your house been sitting on the market longer than expected? It’s understandable if you’re feeling frustrated and considering pulling the listing until 2025. However, delaying your sale could actually cost you more in the long run. While many sellers are choosing to withdraw their homes from the market, serious buyers are still out there, motivated by improving mortgage rates and eager to make a purchase before the end of the year. Keeping your home listed now can help you attract these highly motivated buyers, making it a smarter decision to stay the course rather than waiting.
Other Sellers Are Pulling Back. Should You Hold Off Too?
The housing market typically experiences seasonal fluctuations, with inventory levels often dropping as fall approaches. Many sellers choose to delay listing their homes until the new year, contributing to the decrease in available properties during this time. This seasonal trend impacts market dynamics, potentially reducing competition for sellers who keep their homes listed through the fall, while also giving serious buyers fewer options to choose from. As Mike Simonsen, Founder of Altos Research, explains:
“. . . we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year. In fact, for every two sales, there is another listing withdrawn from the market.”
But is that a smart move? While it might seem like a good idea to pull your listing too, here’s why that approach may not pay off this year.
Today’s Buyers Are Serious and Ready To Act
The top reason to continue selling your home right now is that the buyers currently in the market are serious about making a purchase. During this time of year, these buyers are often highly motivated to find a home quickly, especially with improving mortgage rates. By keeping your property listed, you’re more likely to attract these eager buyers who are ready to close a deal before the end of the year.
“During the fall months, serious homebuyers are eager to settle in to a new home before the holiday season ramps up and the winter weather begins.”
Keeping your home on the market significantly increases your chances of attracting buyers who are genuinely ready to make a purchase. By maintaining your listing, you position yourself to engage with motivated buyers actively seeking homes, enhancing your opportunities for a successful sale. In today’s market, where serious buyers are eager to act, staying listed can lead to faster transactions and potentially higher offers.
Bottom Line
While some sellers are opting to remove their homes from the market, this may not be the best decision in the current climate. With motivated buyers eager to make a purchase, now is an excellent time to sell your house. By staying listed, you can capitalize on the demand and ensure a successful sale. Let’s connect to develop a tailored strategy that maximizes your selling potential and helps you achieve your goals in today’s market.
