6 Reasons to Sell Your House in the Winter
Spring is generally the most popular time of year to sell a house, with hordes of buyers looking to move into a new place before the school year begins. But if you’re thinking of selling, read on for the top reasons why you should consider doing it when the temperatures drop.
1. Low Inventory = Less Competition
Since spring is the most popular home-selling season, the housing market is ultracrowded with options at that time of year. With all that inventory, there is more competition for buyers’ attention. But in the winter, there are fewer homes for sale. That competition over low inventory can make winter an ideal time to sell your home.
2. You get to show your home’s winter-readiness
Selling in the winter also gives you the opportunity to show that a home is designed to handle the harsh elements. You can show off features like a south-facing driveway to speed up snow melting, how snow will fall off of a roof, a short driveway that will minimize shoveling or plowing, heat tape on the north side of the roof to avoid snow accumulation, and how recently the roof and furnace have been replaced.
Plus, during winter months, homes with features like fireplaces and hot tubs are certainly more appealing!
3. New Parents May be Looking to Upgrade
The baby boom in September may lead to more buyers later in the year. September is a time with a high number of birthdays wo there may be growing families looking to buy a larger house. These parents may want to start the year in a new, and more spacious, family home!
4. Serious Buyers
News flash: Not everyone looking at houses intends to make a purchase. Some people are contemplating moving and may just want to see what’s on the market. Since more homes tend to go on the market in spring and fall, this is also when window shoppers are likely to be out looking.
However, these looky-loos tend to be scarce during winter months. When buyers are looking for homes in January and February, they’re real buyers looking to make a purchase—especially if it’s a great house. They don’t want to take the chance of waiting until spring and losing out on the home.
There may be less people at these open houses, but it’s better to have 10 real buyers come through than 20 people who are just curious.
5. Christmas / Year-End Bonuses
As a seller, year-end performance reviews or Christmas bonuses could mean that more people have money to spend on a home.
End-of-year financial bonuses or workers retiring with large payouts could mean opportunities for these buyers to upgrade their living situations or for first-time buyers to enter the housing market!
6. Quicker Process
With fewer home sales taking place during the winter, the length of time it takes from getting a contract to closing can be shorter. The winter is traditionally slower for real estate sales, which is in itself an advantage for a seller.
The other benefit of selling a home in the winter months – everyone has time for you. Real estate agents have more time for you. Home improvement contractors are not as busy and are usually more responsive. Lenders have more time for buyers, so their process is smoother and so is yours. Winter real estate markets typically have a more relaxed pace in general.
Whatever time of the year you decide to sell, give the Key Advantage Team a call! We will always give you the best advice to help you with your decision.