When you sell your home timing is important. One may think that selling your home in the spring or summer would be the best time to put your home on the market, however winter is a great time to sell. So whether you want to move or need to move let’s take a look at the surprising reasons behind selling in Winter.
1. Low Inventory = Less Competition
Many sellers feel that winter isn’t the best time to sell so they don’t put their home on the market. If others aren’t on the market and you are, that means you have less competition. Less competition is a great thing! When there are fewer choices homes sell faster and get more money.
People also believe that fewer homes sell in Winter. This isn’t true. When you look at graphs showing how many homes are listed compared to how many sell, in most cases there is a much higher percentage of the homes listed sell in Winter vs Spring. For example, if 50 homes are listed in Winter, 45 of them will sell. But if 100 homes are listed in Spring only 75 of them will sell.
2. Sell Faster and for More Money
When there are fewer homes on the market, it means your home is more visible and has more exposure just by the nature of market conditions. When that’s the case, it oftens means a home will sell faster. Home buyers are eager to see the newest house on the market. Homes that are priced right and have great photos are going to have showings and more likely going to get an offer.
3. Serious Home Buyers Shop in Winter
Harsh weather gets rid of non-serious buyers. Serious home buyers don’t care if it’s raining or snowing – they are bound and determined to find a new place to live. While you may get fewer showings than in the spring, those looking are more likely to put in an offer.
4. Great Winter Marketing
Marketing a home for sale is all about getting the home buyers to imagine the house as their home.. Homes can look gorgeous in the winter too.
5. Homes That Close in April/May are Listed January-March
If you look at a graph of “Closed Transactions” and “Average Dollars Per Square Foot” for each month over the years, you’ll notice that typically the most homes sold and the highest average dollars per square foot usually land in the months of April and May.
This has translated to mean that April and May are the best times to list your home for sale. In fact, it really means that January through March are the best times to list.
Why? Because these graphs are for when the property closed, not when they were listed. Homes usually close 5-10 weeks after they are listed for sale. So if you listed your home for sale in early February, you could close right around April 1st.