Selling Your Home In The Winter Can Make You A Real Estate Winner
Planning to sell your home this year but waiting for the warmer months to list it? If you can, you may want to reconsider listing in the winter.
There are many reasons why listing your house in the winter, instead of waiting for the spring, can actually be beneficial.
1. Less Competition, The Housing Market’s Inventory Is Down In The Winter
Green grass, blossoming flowers, and bright, sunny days have a way of making any house look great. That’s why come spring, sellers will flood the housing market. It’s easy to see why the spring is such a popular time to list a home. But is it actually the best time to sell?
If you have a basic grasp of the law of supply and demand, you can see why listing in the spring might not be your best bet. With so many listings, your home is less likely to stand out and could potentially get overlooked.
When you sell in the winter, you practically have the market to yourself. Fewer listings on the market mean less competition. Think of it like this, you’d rather be the only home for sale in your neighborhood than have three of your neighbors also selling at the same time, right?
2. Buyers Mean Business
Consider this. It takes some real motivation to bundle up and go look at houses when the weather gets cold. Most of us would prefer to stay under the blankets on the couch by the fire.
For sellers who decide to list during the winter, this means you’ll waste less time with window shoppers, looky-loos, and nosey neighbors. Instead, you’ll show your home to potential buyers who are serious about making an offer. Why would they brave the cold temps otherwise?
Note that while low showing attendance can be discouraging and leave you wondering if listing in the winter wasn’t the best idea, any Realtor will tell you, you’d rather have 10 serious buyers than 20 curious buyers.
3. Buyers Motivated By A Deadline
When we said “some real motivation” in the last point, we meant it. Many winter buyers are working against a deadline, whether it’s an expiring lease, relocation, or a contract on their current home.
One of the biggest months for corporate relocation is January-February. This means buyers who need to move and need to move quickly are out in full force looking for a new home. Folks relocating for their job typically have a limited amount of time to uproot their families and as a result, don’t have the luxury of spending a lot of time looking at properties. So, when this type of buyer finds a home that meets their needs, they likely sign soon after.
4. Buyers Can Browse Listing From The Comfort Of Their Own Home
Traditional home buying and selling have evolved entirely thanks to the internet. Today, buyers do 99% of their home searching online, from the comfort of their own homes. This is especially true when the weather outside is not so great.
For this reason, it’s important to make sure your online listing shows off your home’s big selling points. With high quality, strategically shot photos and videos, you can give online buyers a good idea of what your home has to offer.
5. End Of Year Bonuses, Payouts, and Tax Incentives
Some winter home buyers could be motivated to splurge on the new home they’ve been wanting due to end of year bonuses, payouts, and/ or tax incentives.
Extra cash at the end of the year puts many people in a position to upgrade their living situation or even purchase their first home. Often, winter buyers are even able to use extra bonuses or their tax refunds to find that perfect new home.
6. Set The “Home Sweet Home” Mood
One advantage to showing your home in the winter is the ability to make it feel like home. Nothing says welcome home quite like walking in from the cold into a nice, warm house. Decorate for the season in a way that is tasteful but not overpowering, light a fire, and prepare a batch of fresh-baked goods. You’ll have potential buyers feeling at home in no time!
These are just a few points we think sellers should consider when deciding when to sell their home. Of course, every situation is different. An experienced Realtor in your area can give you the best advice when it comes to the best time to list. Have you met our team?