If your property has been sitting on the market a bit longer than you anticipated, it’s natural to feel frustrated. You may even be considering pulling the listing to see what 2025 brings. However, choosing to withdraw from the market could cost you more than you might realize. In the high-end markets, like Minneapolis' Kenwood, Edina, Downtown's Mill District and the communities around Lake Minnetonka, staying the course could be the wiser move. Here’s why:
Other Sellers Are Pulling Back – But Should You?
Recent data from Altos Research indicates a growing trend: more sellers are withdrawing their listings as we move into the fall season. While this is part of a typical seasonal pattern, the real question is whether following suit is a smart strategy.
As Mike Simonsen, Founder of Altos Research, points out:
“. . . 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 In fact, for every two sales, there is another listing withdrawn from the market.”
While it might seem like a good idea to pull your listing, here’s why taking a pause could actually mean missing out on valuable opportunities.
Today’s Buyers Are Serious and Ready to Act
One of the most compelling reasons to keep your property on the market is that today’s buyers are highly motivated. Those actively searching right now are not window shoppers. They’ve been waiting for conditions to stabilize, and now that mortgage rates have come down from recent peaks, they’re ready to make their move.
Mortgage applications are rising, a leading indicator that buyers are preparing to re-enter the market. This trend signals a wave of buyers who have been patiently waiting for the right moment. And, as Freddie Mac notes, these serious buyers want to finalize their purchases before the holiday season:
“During the fall months, serious homebuyers are eager to settle in to a new home before the holiday season ramps up and the winter weather begins.”
This is especially true in luxury markets. Fall buyers are often looking to close quickly, eager to settle in and celebrate the holidays in their new homes. By keeping your property on the market, you position yourself to attract those ready-to-act buyers who want to move fast.
The Advantage of Staying the Course
With other listings being pulled from the market, your property has a unique chance to stand out. This reduced competition can actually be a benefit. In luxury real estate, attracting the right buyer can sometimes take longer, so maintaining your presence now can help you capitalize on the momentum of these serious buyers who are ready to invest.
By staying on the market, you keep the door open to these motivated buyers and benefit from the decreased competition. This is a prime time to lean into a well-crafted strategy and work closely with your agent to make sure your property continues to capture attention.
Bottom Line
While some sellers are opting to take a break, now isn’t the time to go that route. There are still plenty of motivated buyers eager to make a purchase. If you’re committed to selling, maintaining your listing is a smart choice. Connect with a seasoned real estate professional who understands the luxury market to help refine your strategy and make the most of this unique selling season.
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Inspired by insights from KeepingCurrentMatters.com
