October Is Coming!

Real Estate Tips for October

Home Buyers and Sellers Can Expect in the Month Ahead

Looking to buy or sell a home this October? Here's what you need to know about the real estate market in the month ahead.

The holidays are just around the corner, and that means the real estate market is about to get a lot quieter. If you're thinking about buying or selling a home this month, here's what you can expect.

1. Fewer homes on the market.

The number of homes for sale typically drops in the fall and winter months, as many sellers wait until after the holidays to list their homes. This October, you can expect to see about 10% fewer homes on the market than last year.

2. More buyers than sellers.

The decrease in inventory will likely result in more buyers competing for fewer homes, which could put upward pressure on prices. In fact, prices have been rising steadily for the past few years, and they're predicted to continue to rise through 2020.

3. Longer days on market.

Homes are selling more slowly than they were a year ago, so if you're thinking of selling this October, don't expect your home to go under contract right away. On average, homes are taking about two weeks longer to sell than they were last year.

4. More buyers searching online.

If you're selling your home this fall, make sure your listing is looking its best online—that's where most buyers start their search these days. In fact, nine out of 10 buyers use the internet during their home search process, so it's important to make sure your listing photos are high-quality and that your home is being marketed properly online.

The bottom line? If you're thinking of buying or selling a home this October, it's still a good time to do so—just be prepared for less inventory and more competition than usual. And if you're selling, make sure your listing is looking its best online!