The October real estate market offers a window of opportunity for sellers who are still looking for the right buyer. Take a look at the graph below, which shows the number of Madison single family home accepted offers for each month in 2016.
As the graph above shows, buyer activity typically increases in October before bottoming out in November and December. This means it's critical for sellers to get their listing priced properly right now. Sellers who find their buyer in October will avoid the slow holiday season and the need for a November or December price reduction.
Pricing for the fall market
If you're still looking for the right buyer, we recommend working with your real estate agent to take a fresh look at the market in your area. As you review your local market conditions, remember real estate prices tend to follow a seasonal pattern. All other things being equal, properties that receive an accepted offer in the springtime tend to receive a higher price than listings that receive an accepted offer in the fall. So, make sure you take the seasonal nature of the market into account when you review your pricing.
For more pricing tips
Check out these blog posts for some common sense recommendatons:
Do you need a market analysis completed for your Madison area home or condo? Contact us anytime, and we'll schedule a short meeting at your property. During our visit we'll also discuss a few simple ways you can increase your home's value.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred