One of the most common questions that we get each and every year is whether a home seller should try to sell their home during the cold, winter months or wait for spring to put it on the market? There are pros and cons to every situation, but I want to give you a few things to think about that you may not have considered.
Many people believe that it is always best to list and sell a home during spring. After all, isn’t that when everyone else does it? Plus, there are some negatives to selling during the winter.
For one thing, winter is the holiday season. You have Thanksgiving and Christmas, among other holidays. Many people don’t want the showings during the holidays. They don’t like the idea of people walking through their home with snow on their shoes. They have their holiday decorations up and don’t really want anyone messing with their festive home.
Many sellers think that there are less buyers during the winter, and that is probably true. However, consider this: buyers who are looking around the holidays are serious. Why else would they be looking for a home at that time of the year? Many relocation companies move employees during the winter because they want to get things done before the end of the year. Relocation buyers are often some of the strongest purchasers you can find.
Some sellers are also under the assumption that prices go up in the spring. Unfortunately, the current real estate market does not point to the idea that prices will rise in the spring. Experts hope that they do not fall further, in fact. Waiting for prices to go up so quickly may be a dangerous game for a seller to play.
There are some absolute positives to putting your home on the market during winter. First, the interest rates are very low right now. Buyers are getting into homes for 3.75% to 4% right now. No one can predict the future, so you want to strike while the iron is hot.
Also, there are less homes on the market in winter which means way less competition for a home seller. The greater metro area had 20% less listings going into the winter months than will be true during spring.
On a good note, homes are still selling. I checked the records, and last winter through February, our team sold 60 homes! I also checked the MLS records and saw that 2,363 homes sold last year in our area. Your home only has to be ONE of them.
In short, if you don’t mind the little inconveniences of selling during winter, you can reap big rewards. Call on us today to find out more about putting your home on the market the right way.