Has your home been on the market longer than expected? If so, you might be feeling frustrated by now. Perhaps you’re even considering pulling your listing and waiting for 2025. But did you know that withdrawing your home could actually be a disadvantage? Let’s explore why keeping it on the market could be a smarter choice.
Other sellers are withdrawing their listings.
According to recent data from Altos Research, listing withdrawals are increasing. In other words, more sellers are pulling their homes off the market.
But! This is something that typically happens this time of year.
The real estate market experiences seasonal fluctuations. In the fall, inventory levels tend to gradually decrease, as some sellers decide to postpone their plans until the new year. Mike Simonsen, the founder of Altos Research, notes that we’re returning to more normal seasonal patterns. Inventory is starting to drop, with many sellers withdrawing their listings to try again next year. In fact, for every two homes sold, one listing is being withdrawn.
So, is withdrawing your listing the smart move?
While it might seem like a good idea, this strategy might not be as helpful this year.
Today’s buyers are serious and ready to act.
The biggest reason to keep your home listed is that the buyers currently in the market are more serious than usual. These buyers have been waiting for some time, and now they’re ready to make a move. With interest rates coming down from their peak, more buyers are applying for mortgages. This signals that they are ready to jump back into the market. After waiting so long, these buyers are prepared to act quickly.
They aren’t just browsing homes; they’re motivated buyers ready to make decisions. Freddie Mac data supports this, showing that serious buyers in the fall aim to settle into a new home before the holiday season and winter weather arrives.
By keeping your listing on the market, you can attract serious buyers who are ready to make a purchase decision.
Conclusion
While some sellers are pulling their homes off the market, this may not be the best choice. With serious buyers actively searching, now is a good time to sell your home. Once you enter a contract, the likelihood of closing during the winter market is much higher.
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