Can you believe that the Fall season is just around the corner, like less than a month away? It's like, bam, summer flew by and here we are already discussing fall when the real estate market goes into high gear. While fall does not see the same level of demand as spring, there's usually a noticeable uptick in activity during the month of September.
With less than two weeks away from the Tuesday following Labor Day, sellers should have already begun getting their homes ready to list. If not, I strongly advise you to act now if you need to sell before EOY. The fall selling season is a short one, as activity tends to wind down in early to mid-October. Sellers should give themselves at least 30-45 days to prepare their home before listing it on the market.
Ideally, 60-90 days is a good timeframe, as it gives sellers enough time to tackle what's needed, especially if there is renovation involved as I wrote about last week. But with the right plan and resources, you can make it work in a shorter period too. You would be surprised at how many sellers still miss the boat on factoring in the time and prep required before putting their home on the market.
While mortgage rates have reached an all-time high, keep in mind that this hasn’t impacted a large portion of buyers in New York. As I mentioned earlier this summer, a significant portion of sales recorded were all-cash buyers—specifically, around 60% of all condo transactions in Manhattan. Therefore, high interest rates shouldn’t dissuade sellers from listing this fall.
If you're aiming to sell your property within the next few months, feel free to get in touch. I'm happy to address any questions you may have. Selling a home in NYC can feel like a lot, especially without proper guidance, so I'm available to chat with no obligation. Also, visit my website for tips and resources to assist you in listing your home.