Home sellers and real estate agents fear the winter months because it seems like it’s not the most ideal time to list a home. The truth is that winter can be a great time to list your home for sale. Personally, I am known for being busy in the winter — Hint hint, sellers :)
Conventional wisdom tries to say that taking your home off the market in winter, or waiting to list, until the spring selling season starts is the best way to sell your home. The truth is that if you are trying to sell your home, wouldn’t you rather list while the competition is less? Remember, other listings in your neighborhood and surrounding neighborhoods are competition! If there are 4 similar units on the market at one time, as a seller, you really have to get your property be more attractive than the other three. This can be done through overall condition, staging, price and more. It’s important to know your competition, also. I’ve taken sellers to show them their competition and it helps show them subtle differences between their home and other homes nearby.
With the end of the summer, some homes are removed from the market, either because the sellers believe they need to wait for the spring. But if listings flood the market in the spring, supply would increase and if the demand isn’t enough to match or exceed supply, it could cause stagnant prices or cause price drops. Economics 101. However, it’s important to remember that this varies with each home and neighborhood. It’s important to talk with your agent about what’s happening in the neighborhood and surrounding area to ensure you set yourself up for success.
Buyers in the winter tend to be more serious about a home purchase. The holidays are a time to relax and enjoy family and friends. In real estate, if a buyer is out looking for a new home during these months, they have a reason to move or a desire to get into a place either by the new year or don’t want to risk more demand that could come in the spring.
Analyze Your Situation:
At the end of the day, sometimes people need to move at a certain time of year, whether it’s a job relocation, etc. If your current situation has you needing to sell, don’t let the timing of the year stop you. It’s best to have your expectations set, given what is happening in your neighborhood and current market.
Home sellers can take this time to utilize a slower pace and smaller inventory by listing their home during the time of winter. Winter is not a bad time to sell (as some believe) while the competition is drinking hot cocoa and waiting for the spring.
Thinking of selling this winter? Let’s talk about what is happening in your neighborhood. 571.386.8638 or email@example.com