The first point we want to make is that we are now experiencing record low interest rates, and with the election and everything else going on we don’t know if they will last until spring.
A question that I get asked a lot by homeowners considering selling their home is “When is the best time to sell a home?” and the answer almost always surprises them. Though there is a common misconception that the best time to sell a home is in the spring and summer months of the year, the truth is that selling during the fall and winter can be just as strong.
There are several reasons for this – and depending on your motivation to sell the property, you may not have to wait until the following year to list your home to get results.
Fewer Homes on the Market Results in Less Selling Competition
As the year goes on, more and more sellers remove their home from the market. They either buy into the notion that with less buyers out there in the winter months their home won’t sell. Another reason is they feel the holidays should be without interruptions for showings throughout.
Buyers Try to Avail Tax Advantages of Homeownership Prior to Year-End
A major benefit of homeownership is the many tax advantages that come with owning a home. And as the end of the year approaches, more and more prospective buyers seek to find their dream home so they can include the purchase in the upcoming tax filing.
Serious Buyers Buy Regardless of Season; They Are Seeking the Perfect Home
When it comes time to buying a home, as buyers are looking – the time is already right for them. Add to that the factor the Internet plays in with buyers’ readiness by the time they begin actively looking and you will find far more serious buyers interested in your property. This is particularly relevant if they have been shortlisting homes and yours is among the few available ones that fit their criteria.
At the end of the day, it is important to keep in mind that the market never sleeps. Sure there are more buyers in the springtime but there are also far more homes competing against your listing. When deciding whether this is the right time for you, consult with your real estate agent and discuss all the issues at hand. Just know that you will likely not experience much difference in your selling success if you choose to list during the fall and winter months.