Why You Should Consider Selling in the Winter
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to get your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move to consider your home and sell for more money than you would have in the spring.
In addition, our spring markets have become so fiercely competitive due to an expanding economy and limited residential inventory. Renovated or move-in ready homes tend to receive multiple offers. Many buyers will remove inspection, financing, and appraisal contingencies in order to be the successful purchaser of a home. Because of this, some sellers will renovate and wait for the spring market to capture this euphoric buying frenzy. The best homes receive this type of hysteria in the spring and to some extent even the winter season. There is a trend among buyers today to start their search in the middle of the winter market to avoid the trappings of fierce multiple offer situations. These are great buyers that are looking for great houses without having to remove inspection, financing, or appraisal contingencies in order to win a home. These buyers are looking to be able to purchase a home without the stress of a multiple offer situation. The biggest issue that the winter buyer faces is the lack of inventory.
If you're ready to sell your home or have questions, please let me know!