When most think about the best times of year to sell, they picture warmer months. After all, who doesn’t dream of buying a home, setting up the sprinkler, and letting the dog and kids run around? Unfortunately, this may mean higher prices, more competition, and a barrage of other problems.
Contrary to popular belief, this season brings in more focused and active buyers, along with better payoff for you.
Winter is actually the best time to sell a home. Here’s why.
Better Payoff and Prices
The winter usually gets sellers to offer more than their original asking price compared to listings of spring and summer months.
One of the considerable problems with selling your home in the spring or summer is that the market is more competitive and many are moving, some with hard deadlines. Let’s say there are multiple sellers in a local area, and three very similar homes all have home values at 300,000. The first seller lists their home for $300,000. The next seller has a hard deadline to move out of their home by June because of a new job in a nearby city, so they list theirs for $290,000. Then a third seller, who has a hard moving date, lists their home at $280,000. This scenario repeats.
It may seem hard to believe, but statistics show that homes sell at higher prices in the winter. With less demand and less houses on the market to look at, many buyers may be more desperate to settle for a higher price.
Less Competitive and Inventory Shortage
What does this pricing scenario mean for a home listing? With less listings competing with one another in the winter, your client’s chance of getting outbid by an investor during the Winter is less likely compared to other months. Likewise, if you’re client is selling, there is less competition in the local market with other homes with similar models and values. In other words: less competition, and more serious buyers, since less are selling in the winter.
Speaking of, the winter market is way less competitive compared to other seasons in the year. Most people are traveling or busy during the winter seasons, and many are putting off looking for a new house until after the New Year. This means winter months are a prime time to pounce on putting a home on the market.
More Serious (and Motivated) Buyers
One of the bigger problems when it comes to selling a home is getting potential buyers in the door that are actually serious about buying your home. Some can hop from open house to open house only intent window shopping, and sometimes leaving a mess along the way! This is less of a problem in the winter. Buyers are more focused and more motivated. An added bonus? Less showings means less stress on sellers and less clean up. Nobody wants to keep cleaning tracked-in dirt and mud off of carpets.
Another thing that buyers have more of in the winter months is free time. They may have more free time on weekends compared to summer, and extra around the holidays, giving them more time to check out houses, evaluate, and make their purchase.
Less Focus on Curb Appeal
The winter months take some of stress of home maintenance off of sellers. With less time needed to be spent on things like landscaping and no time spent on keeping your garden flowers looking extra spiffy, sellers have more time to relax or prepare the inside of their home.
No more worrying about the marigolds being eaten by deer and squirrels before your showing; sellers can focus their energy more on keeping their driveways and walkways shoveled and ice-free!
With new technologies and techniques, the off-season is no more. Don’t let your home go into hibernation. Take advantage of the market and start preparing your listing now!
And if you need assistance in your e-signing and online document ventures, check out formsrus.com for a free trial!
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