New Jersey residents have many reasons to enjoy fall. The changing colors of the leaves throughout the state are spectacular (especially in Ridgewood and Bergen County), the temperature for peaceful walks in the many state parks is ideal, and you can catch all the top pro sports teams live, as the Giants, Jets, and Devils are all in action. But perhaps the most underrated advantage of the fall season in New Jersey is the benefits that home sellers have.
You may have heard the common perception that spring is the most popular (and therefore the best) season to sell your home. The term "spring market" comes to mind when referring to the increase of potential buyers that begin to look at homes and inevitably make their purchase. But while it's true that spring is the most popular time for both buying and selling Bergen County homes—stats show that homes sit on the market for the least amount of time in Bergen County during March and April—this doesn't necessarily mean it's the best season to sell.
A data analysis by SmartZip shows that, in New Jersey and many other states, the autumn months are actually the best time of year to sell a home for the most amount of money. Specifically, October is the month when homes on the market in New Jersey end up selling for closer to the initial listing price than in any other month of the year. The reasoning, according to SmartZip, is that there are fewer homes for sale in Bergen County and the rest of the state, meaning buyers have fewer choices and are more likely to compete over the limited listings and drive up the prices.
The smaller supply of homes on the market during the fall months can sometimes lead to a quick sale as well, although that doesn't seem to be the case in Bergen County. Stats indicate that homes still sit on the market for the least amount of time during spring. But while buyer demand isn't as quite high in the fall, the supply of New Jersey homes for sale during these months appears to be more than low enough to offset the lack of buyers to the point where bidding wars are taking place over many homes.
In addition to maximizing the financial gain on your home sale, there are other advantages to selling your home during the fall months in Bergen County and throughout New Jersey. In the early part of the fall, the foliage adds an incredible amount of curb appeal to many homes in the region. A single-family home on a tree-lined residential street or a forested cul-de-sac is sure to pop when it's surrounded by a stunning display of brightly colored leaves.
Another incentive to listing your home in the fall is to capitalize off buyers who are looking to finalize their home purchase before Thanksgiving and the holiday season. After all, no one wants to worry about buying a home while they're preparing for Thanksgiving dinner and organizing Christmas shopping. In particular, November and the first half of December is when you can find some very motivated buyers who don't mind buying a home quickly (and sometimes for more money) in order to simply get it out of the way before the holiday stress really amps up.I
So if you're trying to decide when to sell your home in Bergen County and the rest of New Jersey, don't hesitate. The fall market might not be as busy as the spring and your home might sit on the market for a tiny bit longer. However, you're more likely benefit financially from the smaller supply of buyers that have an even smaller amount of homes to choose from and will pay more as a result!
|If you're thinking about selling your home, but you're looking for a real estate agent that gets results, consider the professionals at Tarvin Realtors. The Tarvins have over four decades of experience helping residents in Ridgewood and the rest of Bergen County sell their homes in a timely and profitable manner. Get in touch with Tarvin Realtors today to jump start the selling process!||CONTACT US|