If you’re thinking of selling your home, winter is a great time to do it. Here’s why.
I’ve been saying it for years: List your home in the winter. Don’t wait for spring.
Why? There are four reasons:
1. Less competition. The housing supply typically shrinks this time of year by about 15%, which means buyers don’t have as many homes to choose from. You’ve practically got the market to yourself. The chart below was created using the month’s supply of listing from the NAR, and as you can see, the sweet spot to list your house for the most exposure happens from November to January.
Temperatures aren’t the only thing that heat up during the spring—so do listings. As you can see at the 1:30 mark in the video above, inventory levels (and, therefore, the level of competition) increase during April and May. In the spring, your home’s just another fish in a big pond. Don’t let these listings, and the competition that comes with them, rob you of a quicker, more lucrative home sale.
2. Buyers are more serious. For a buyer to want to go out into the cold weather to shop for homes they have to be serious about purchasing. This means you won’t be bothered or inconvenienced by looky-loos or tire-kickers.
3. Financial benefits. Some buyers look for year-end tax breaks related to home buying expenses. Also, many major corporations do their job transfers in January, which means these transferees need to buy a home quickly. You don’t want to miss out on that buyer contingent.
4. Time off work. Buyers have more time off work during the holiday season and they often use that time to look at homes. You don’t want to miss out on any of these buyers, either.
If you’ve been seriously debating whether to sell your home or not and are curious about the market conditions in your area, let’s get together so we can brainstorm and determine the best time to list. We’re here to guide you and provide expert advice through every step of the home selling process.
As always, if you have any other real estate needs, feel free to reach out to me as well. I look forward to hearing from you.