Is fall the best time to buy and sell a home?

Key Insights

• Fall is a historically good time for sellers and buyers to make mutually beneficial transactions.
• Sellers can expect fewer–but more serious–offers during the fall.
• Motivated buyers will face less competition and more options this season.

While you’ve undoubtedly heard about spring market frenzy, you may not know what to expect when buying or selling a home in the fall. Many find that buying and selling in autumn is less stressful and allows them to use the winter to build a feeling of home.

Here are insights you can use as you consider buying or selling a home in Minnesota or western Wisconsin this fall.

Something’s in the air

Whether you’ve lived in the Midwest your whole life or recently moved here, you’ll notice that as the air and leaves get crisper, everything seems a little more relaxed than it did in the summer. (Even attending three soccer games on the weekend feels refreshing when you have a flannel blanket and a warm cup of coffee on the sidelines.)

Similarly, fall just feels like a great time to start over in a new home. Many buyers love moving into a new home in the fall because it’s the right time for a fresh start. Then, you get to spend your winter ‘nesting’ and really making a home your own. If you buy in the spring, you’re more likely to be outside and less likely to paint, decorate or organize for the long term during those first few months of homeownership.

Digging into the numbers

Fall may feel like the right time to move, but what do the housing market numbers say?

Annual national market trends show that since 1999, the most popular months for home sales are May, June, July and August; comparatively, November, December, January and February tend to be the slowest months for real estate activity, according to information published by the National Association of REALTORS®. Generally speaking, real estate activity moderates in autumn months as renters stay put and families with children avoid changing school districts mid-year.

While spring and summer are known as the peak times in the market, the housing market doesn’t hibernate when the leaves start to turn colors. In these more moderate sales months, motivated buyers and sellers tend to work toward straightforward, mutually beneficial transactions.

What fall sellers should expect

Sellers should keep in mind that they probably won’t see the lightning-fast sales that were prevalent a few years ago. Currently, the average home in the Twin Cities is listed for 34 days before the right seller is found. However, sellers can also expect to get a good value for their property. This August, the average seller recouped at least 97% of their original list price, according to data provided by the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. for the 16-county area in August 2024.

In the fall, open houses and showings are usually attended by serious buyers. This could mean that you see less in-person traffic than you would if you listed in April, but you’ll also host fewer “looky-loos” who are unlikely to make an offer. Selling in the fall could also mean a faster path to closing, as your buyers likely have a reason to be entering the market at this time and may be motivated to get settled before the holidays.

Remember, today’s buyers are discerning and have high standards. Sellers should work to build curb appeal and fix up the interior of their home to show pride of ownership before listing their homes for sale.

What fall buyers should expect

Housing inventory continues to grow, giving buyers more options and more confidence. Because fall isn’t typically a busy home-buying season, buyers who attend open houses will see that they are less crowded than in the spring and summer months.

This could mean that you have less competition, or it could mean the competition is fierce, with a small pool of equally motivated buyers. Your REALTOR^® will provide deep insights on what to expect given the inventory and desirability of your selected neighborhood and price point.

Thinking of getting started?

As you can see, the fall is about more than pumpkin-flavored treats and bagging up that ever-growing leaf pile. If you’re thinking of buying a home or are ready to put your property on the market, reach out to Edina Realty or your agent to get started. Our local experts have all the insights and expertise you need to close during the fall season.