Is Fall a Good Time to Sell in Chicago?
As the days start to cool off, the Bears take the field, and you wait for the brief arrival of the Indian Summer, you know that fall is upon us. But with the leaves turning Red, does the Chicago market stay Red hot or cool off?
A Typical Fall Rebound?
It’s never too late to list your house! The fall time around Chicago has some truly amazing reasons that regard it as a the second best time to list your house for sale. First off, in the beginning of fall and late summer time there are many families still looking to get a house under contract before school is in session. Many school districts in the area allow for a child to register for class as long as you can show a contract signed before the cut off date. In addition, many leases are expiring and new buyers are beginning their search. For those summer time adventurers who basked in the Chicago sun, now is the time they start to get serious about their home search. These groups along with those relocating here typically make fall uniquely suited to a brief resurgence of the real estate market before the winter hits.
Should you follow the crowd?
The common thought throughout the Chicagoland area, is that buyers are no longer looking to buy and will wait until Spring. However is that truly the case? On one hand, demand does drop throughout the late Fall and Winter months, however Inventory drops even more. Simple economics will show you that with Supply decreasing more than Demand, your odds of selling in the Fall/Winter actually increases. Thus possibly getting you a higher price for your house. Why bother trying to get noticed in the crowd, when you can shine all alone!
Also if you haven’t taken your photographs yet, always try to get them done early in the season. Showing off the Summer greenery along with the Autumn colors will create an inviting scene that buyers love.