As you may or may not know; Sellers love putting their property up for sale during the spring and summer months for a number of different reasons; it’s a convenient time to move with kids, the exterior of the house is easier to upkeep in warmer weather, the extra daylight time means more opportunity for showings, and in general; People look for a fresh start come spring.
During the spring and summer months there is also a lot to contend with. Competition is fierce and there are frequent bidding wars often leaving little room for negotiations.
Statistically speaking “Fall can be one of the most advantageous seasons to make a home purchase”
A perceived balanced market in Calgary consists of 6000 listings including homes and condos.
This means that today it is favouring a buyers market.
1. More Motivated Sellers
When a house goes up for sale in the fall or winter months (or is still on the market from summer), you can assume that the sellers are anxious to close their deal fast. They’re not interested in waiting until next spring or summer. This is really an ideal scenario for any buyer – negotiations and flexible dates become much easier and more likely with a motivated seller.
2. Competition is Location-Dependent
Some neighbourhoods stay competitive despite seasonal market changes, Price and the “location, location, location rule” apply
3. Flexible Move-in Dates
Because October and November signal the start of the holiday season (not to mention snowier days), most sellers offer a lot more flexibility on closing and occupancy dates. Buyers looking to move into a new space before or after the traditional 30-day closing period may find that getting their seller to oblige to an extended occupancy date, for example, is much easier during autumn.
4. Weather and Daylight
Cooler temperatures, snowfalls, rain, and even the darker days (End of Day light savings time) Typically doesn’t do a lot to motivate buyers to get out house hunting. But if you don’t mind the inconveniences of colder weather and daytime showings, then fall is the perfect time to get out there when competition is much slimmer.
5. Lower Inventory
This might appear to be a negative, but when you have an indecisive buyer who gets “analysis paralysis” from the all of the options available in summer months; Fall is a great opportunity to make a decision. With fewer listings on the market a buyer can more easily focus on the listings that truly suit their needs.