Table of Contents
- Is It Too Late in the Year to List a House?
- Tips for Selling Off-Season
- Median Regional Home Prices
- National Average Mortgage Interest Rates
- AgentUp Virtual Staging
We are already approaching the end of the summer and many have asked us whether it’s too late in the year to list a house for sale. Let’s put these worries to rest and take a look at a real estate update for August 2024.
AgentUp Podcast
Listen to a summary of the August 2024 Real Estate Update on the AgentUp Podcast.
Is It Too Late in the Year to List a House for Sale?
The real estate market has its own rhythm, with certain seasons traditionally considered peak times for buying and selling.
Most of your clients know this, so they hesitate to sell their homes this late in the year. In fact, you’re already likely having clients ask if it’s too late to sell right now.
Overall, spring and summer often take center stage, but does that mean it’s too late to sell a house in the fall or winter? How are you, as a sales agent, answering these questions?
The correct answer is more nuanced than you might think. As you’ll see, recent trends have been challenging traditional assumptions.
The Reality of the Current Market
- Year-Round Buyer Demand: While it’s true that buyer activity tends to peak in spring and summer, there’s a steady stream of buyers looking for homes throughout the year. This is especially true in markets with limited inventory, where competition can remain fierce regardless of the season
- Reduced Competition: Listing a house in the fall or winter can actually work to your and the seller’s advantage. With fewer homes on the market, your property will stand out more to potential buyers, leading to less competition
- Motivated Buyers: Buyers searching for homes during the off-peak seasons are often more serious and focused. They’re less likely to be casual browsers and more likely to be ready to make an offer
- Holiday Home Shoppers: The holiday season can be a surprisingly active time for real estate. Many people use their time off to house hunt, and there’s often a surge in activity after the New Year
While specific data can vary by region, national trends support the idea that selling outside peak seasons is becoming increasingly viable.
According to the National Association of Realtors (NAR), home sales in the fall and winter months have been steadily increasing in recent years.
Tips for Selling Off-Season
To maximize your chances of success when selling outside of peak season, consider the following tips:
High-Quality Photography
Stunning images are what draws in buyers. Therefore, it’s essential to use a real estate photographer and have any real estate photos professionally edited.
Use Virtual Staging
Agents who use virtual staging typically see faster sales. You can even use virtual staging to decorate for the upcoming holidays virtually with fireplaces, twinkling lights, and holiday trees.
Flexible Showing Schedules
You’ll need to advise your clients to be as flexible as possible with showings during an already busy social season.
With careful planning and the right approach, selling your house in the fall or winter can be a successful strategy.
Note: Consider consulting recent reports from the National Association of Realtors or your local real estate board for the most accurate and up-to-date seasonal statistics.
Median Regional Home Prices
As of July 30, 2024 (Zillow)
| City | Median Home Price | Increase / Decrease |
| New York | $756,700 | Up 0.4% from the previous year |
| Chicago | $302,900 | Up 4.2% from the previous year |
| San Diego | $1,031,400 | Up 11.5% from the previous year |
| Seattle | $872,500 | Up 4.2% from the previous year |
| Austin | $544,600 | Down 4.3% from the previous year |
| Denver | $574,800 | Up 0.2% from the previous year |
| Atlanta | $401,200 | Up 1.6% from the previous year |
National Average Mortgage Interest Rates
As of July 30, 2024 (BankRate)
| Mortgage | Current Rate | Last Month |
| 30-year Fixed | 6.93% | 7.0% |
| 20-year Fixed | 6.72% | 6.81% |
| 15-year Fixed | 6.41% | 6.47% |
| 30-year Jumbo | 7.03% | 7.10% |
AgentUp Virtual Staging
As the above article mentioned, virtual staging can provide significant benefits for the sale of any listing.
The process involves digitally updating any room or space with decor, furniture, and design accessories. All of the following can be easily done to elevate your listing photos:
- Furnish empty rooms with the latest items and artwork reflecting popular design styles today
- Remove unwanted objects, declutter, and depersonalize any space or room
- Make digital color changes, updates, and even repairs
- Enhance the landscaping by adding patio and outdoor furniture and more!
Virtual staging is an affordable, fast way to show a property in its best light, and it is fantastic when working with hard-to-sell listings.
And virtual stating is a powerful real estate marketing tool, as these recent numbers indicate:
- Virtually staged homes sell 75% faster
- 83% of virtually staged properties sell for the asking price or above
Try virtual staging and see how it can help you close more real estate transactions this year.
Sign up for a free AgentUp account and use the best real estate marketing and support services available. Before you go, you may also want to check out the following related resources:
