Is the most wonderful time of year also the most wonderful time to sell your home?
The neighborhood might be covered in snow and ice, but don’t despair: Winter can be a great time to sell your home! Just like with any season, selling your homes in the winter comes with its pros and cons. Here are a few things to consider when thinking about listing your home in winter – or waiting for the weather to thaw.
Buyers mean business
If buyers are looking in the winter season, it typically means they’re pretty serious. You’ll have more volume of buyers in the spring and summer, but buyers in winter months mean business. Think about it: If someone is making time to visit open houses and showings during the busiest (and coldest … and dreariest …) time of the year, they’re more likely to be serious about their search.
… but they may have limited budgets
End of year means the end of the annual budget – and with holidays, traveling, taxes, winter prep and more, funds may be limited. This may cause a lot of buyers to not want to invest in a home at this time of year.
You’ll have less competition
Most people will wait until spring to list their home. This means the housing inventory is much lower in the winter, leaving less competition for sellers.
… but you may have fewer offers
Sellers tend to find themselves with multiple offers in spring and summer when buyers have more competition and need to be quick to make offers. In the winter, it’s less likely that sellers will have multiple offers. Buyers may even think that winter sellers are desperate for any offer at all, causing them to lowball their offers. (Psst. This is a great reason to enlist the help of a pro!)
“Show-ready” means more effort
If you aren’t already, it might be time to become the person who won’t allow shoes in the house! To keep your home show-ready during the winter, you’ll need to minimize the amount of snow and slush people bring through the door and will need to keep up with putting away the wrapping paper and holiday prepping that you’re doing yourself. You’ll also end up plowing the driveway and sidewalks for visitors more often.
… but it can also mean less effort!
Another good thing about selling in winter months? Much less effort on the lawn and landscaping! Though you’ll need to keep driveways and walkways clear, a fresh layer of snow can make just about any home seem cozy. A little extra lighting, candles for a warm glow and a wreath on the door might be all you need for curb appeal.
Online house hunting is year-round
The internet has no seasons! Most people would rather be cozied up on the couch in the winter, so it’s more important than ever to make sure your home has a good online presence. Most buyers will start their search online before in person. In fact, 93% of people use the internet in their home search, according to NAR. (This is another great reason to enlist a Realtor!)
… and more time off = more time for buying!
You might think that being the busiest time of the year that people would be too busy to stop by and look at your house. But people tend to take more time off work around the holidays – leaving more time to search for their new home. Three-day weekends in January are also popular weekends for open houses and showings.
Considering listing your home this winter? Let’s warm up with a cup of coffee and chat today!