Has your home been sitting on the market longer than you expected? If so, it's only natural to feel frustrated. You might even be considering pulling the listing and waiting to see what 2025 brings. But before you make any decisions, it’s important to know that taking your home off the market now could actually cost you in the long run.
In Brookings, South Dakota, and the surrounding areas, the real estate market tends to fluctuate with the seasons, but right now might be the perfect time to stay the course. Let’s dive into why keeping your home on the market through this season could be the smarter move—and how Shane Andersen and the Brookings Home Team can help you make the most of it.
Other Sellers Are Pulling Back – Should You Follow?
According to recent data from Altos Research, more and more sellers are opting to withdraw their homes from the market right now. In fact, it’s not uncommon for this time of year to see inventory levels drop. Fall is typically a slower season, with some sellers deciding to wait until the new year to relist their homes.
As Mike Simonsen, Founder of Altos Research, explains:
“. . . we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year. In fact, for every two sales, there is another listing withdrawn from the market.”
At first glance, it might seem like pulling your listing is the right choice, especially if others are doing the same. But here’s why that move could actually backfire in today’s market.
Why Now Might Be the Best Time to Sell
While many sellers are choosing to wait for 2025, this year’s real estate market is shaping up to be different from the typical seasonal trend. Here’s why sticking with your listing could pay off:
1. Serious Buyers Are Out There
The biggest reason to keep your house on the market is that the buyers shopping right now are serious about making a purchase. These aren’t casual buyers or “window shoppers.” Many of them have been waiting for the right moment to act, and they’re more motivated than usual.
With mortgage rates beginning to ease from their recent highs, more buyers are ready to jump in. Mortgage applications are on the rise, and that’s a strong indicator that buyers are getting ready to make offers. They’ve been waiting for better affordability, and now that it’s here, they’re eager to move forward.
As Freddie Mac puts it:
“During the fall months, serious homebuyers are eager to settle into a new home before the holiday season ramps up and the winter weather begins.”
In other words, the buyers browsing homes in Brookings right now are highly motivated. They want to close the deal fast so they can settle in before winter sets in. By pulling your listing, you could miss out on attracting these serious buyers.
2. Less Competition Works in Your Favor
With other sellers withdrawing their listings, there’s less competition on the market. That means your home has a better chance of standing out to buyers. In the spring or summer, the market is typically flooded with listings, but right now, you could be one of the few available options.
In fact, this lack of competition can make your home even more attractive. If buyers have fewer options to choose from, they’re more likely to make an offer on the homes that are still available. You could be just the property they’re looking for.
3. Seasonal Shoppers Want to Close Quickly
Fall buyers tend to be more decisive. Whether they’re trying to get settled before the holiday season or avoid moving in the middle of winter, many are looking to close quickly. This is the perfect opportunity if you’re hoping to wrap up your sale without a lengthy negotiation process.
For example, families may be eager to move before the school year progresses too far, and buyers relocating for work may have a tight timeline. These types of buyers are serious, motivated, and ready to act now.
Why Delaying Could Cost You
On the flip side, if you wait to list your home again in 2025, you may face more competition and changing market conditions. Spring and summer tend to be busier in real estate, meaning more homes will be hitting the market, which can make it harder to stand out. Additionally, if mortgage rates shift again or economic conditions change, the market may not be as favorable for sellers as it is now.
If you’re thinking about waiting, consider that by holding off, you could miss your best opportunity to sell at a good price in a more competitive market.
How the Brookings Home Team Can Help
At Brookings Home Team, we understand that deciding when to sell can be a tough choice, especially when your home has been on the market for a while. But with our local expertise and knowledge of the Brookings, SD housing market, we can help you navigate this season’s unique conditions and find the right buyers for your home.
We’ll work closely with you to adjust your strategy, whether that means tweaking your listing price, staging your home for maximum appeal, or ramping up your marketing efforts to attract those motivated buyers who are ready to act now.
Bottom Line
While some sellers are choosing to take their homes off the market, that may not be the best move. With serious buyers still out there, fewer listings to compete with, and a seasonal push for quick sales, now could be the perfect time to sell your home in Brookings, South Dakota.
If you’re ready to make the most of the current market, let’s connect. At Brookings Home Team, we’re here to ensure you have the right strategy in place to get your home sold—even when other sellers are pulling back.
Posted by Shane Andersen on
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