Fall Vs Summer

I’m sorry to those of you who thought this was going to be an introduction to dating, i’m afraid that’s not the case. However, in even better news, the ‘Fall’ period tends to look p-r-e-t-t-y good for those of you looking to sell your homes.

It’s no news that people tend to wait until the fall or spring time to sell their homes, but does it really make a difference? Are there more buyers willing to purchase your home? Are you more likely to sell your home during these periods? Well today we are going to look into the numbers, particularly for fall as it is looming around the corner, and we will revisit spring early next year for you all!  

Currently, we are in somewhat of a downtown if you have not noticed. So I have also taken numbers from 2008 (the other real estate crash we all remember) for good comparison. Take a look at the sales figures below for sales between the summer periods in the Greater Vancouver area: Sales in the Greater Vancouver Area (Summer period)

2018 - 2,143 Homes
2017 - 11,059 Homes
2016 - 10,204 Homes
2008 - 5,845 Homes

Now take a look at sales in the same area, just between the months of September and October:
Sales in the Greater Vancouver Area (Fall period)

2017 - 13,194 Homes
2016 - 11,124 Homes
2008 - 6,911 Homes

These relatively simple figures show, the above questions all have a resounding answer of YES!Once you’ve gotten over the shock of the amount of homes sold in Summer 2018 (to date), you will see, regardless whether the market is crashing, on a high peak or a balanced one; More sales take place in the fall. 

The big WHY? Well currently in Vancouver we are surrounded by a haze of smoke from the devastating 334 wildfires burning in the province. Whilst out at a new listing getting photographs, it was abundantly clear not only were the images going to be affected by the smoke, but also, there are less people out and about. Now this is not ALL due to the smoke, but mainly due to a vast majority of people taking summer vacations. Including your potential home buyers. A lot of those who are genuinely interested in buying your home are enjoying their time away right now, fully preparing to enter the market during the fall period. Think about it, you and I both know the stigma ‘Fall is a better time to sell’. So if we have heard it, they have also heard it too and are holding off until then.

Having your property listed at the beginning of fall is a great tactic, not only are you reaching those who are waiting for the fall period to buy, but you’re also going to appeal to those who have been on the hunt during the summer period and haven’t quite found their right home or investment yet! Reaching these guys is a double plus as they’ve likely actively been looking and are much further down the funnel when it comes to wanting to make a purchase. A quick sale is still doable in this market, you just have to know how!

On top of this, a wave of buyers are about to enter the market themselves, as we can see from the above numbers, history repeats itself and the activity increases in the market place during this time, regardless of the market conditions.

For more information on strategies to sell your home, feel free to reach out to us on the contact details below. We love this time of year and the excitement that comes with the fall market is contagious and we know better than anyone how to get your home moving (pun intended).
Thanks everyone and until next week!

Ben & Jay

Jay McInnes
T: 604.771.4606

Ben Robinson
T: 604.353.8523