Generally, when you think about the best time of year to sell a home you think of the springtime. The weather is becoming nice, the sun is shining, and people are going outside more. It makes sense. But did you know that selling your home during the winter could actually be better?
That’s right. Many real estate agents claim to have had their best months during the holiday season and just after. On top of that, the numbers show that the winter months are becoming increasingly better times to sell. The median listing price nationwide in February 2018 was $274,900, a 10 percent increase from February 2017, according to Realtor.com.
So before you start thinking presents were the only things you’d be wrapping and packing this season, read on to find out why you should sell your home this winter, with help from an article published on Realtor.com:
Take Advantage of the Low Inventory
Think about it: while everyone else is holding off on selling, you can jump in and take advantage of the seller’s market. A low inventory means less competition for you, which means you can likely sell at a higher price tag. The springtime is overcrowded with available houses and it creates much more of a buyer’s market. This can make the winter an ideal time to sell your home.
You Will Be Dealing with Serious Buyers
Some people are simply thinking about moving and just want to see what’s on the market. This isn’t typically the case in the winter months. During the cold months of the year, the serious buyers come to play. Having a handful of serious buyers can be much better for you than a bunch of iffy ones.
On the same token, buyers are going to know that you are a serious seller. To put your home on the market in the dead of winter means you are ready to go. The mutual dedication to buying and selling can make for a quick and easy closing.
You Can Buy Your New House with Less Competition
Most of the time, when you sell your home it’s because you’re looking to buy another. In the winter months, you will share the same benefit of the buyers looking at your house, less competition. Negotiating can be more acceptable with fewer buyers to compete with.
In addition, keep in mind that the winter months are typically less busy for lenders. This means that when it comes time to go under contract, your financing can happen much faster and allow for a quicker closing.
More Buyers from Corporate Relocations
January and February are some of the biggest months for corporate relocation, according to Jennifer Baldinger, licensed associate real estate broker at Julia B. Fee Sotheby’s International Realty in Scarsdale, NY in this Realtor.com article. This means you have lots of buyers out there who are looking to move quickly. Those who are relocating typically only have so much time to move in and get settled before they need to begin their new job, so they won’t be spending much time kicking tires. The sense of urgency with these buyers can mean a quick sale and sometimes a bigger payout.
More Buyers with Monetary Bonuses
Buyers are always looking for ways to come up with funds to cover closing costs or for a bigger down payment. At the end of the year, many employers give out monetary bonuses. This could be the motivation that buyers need to upgrade their living situations or enter the housing market for the first time.
Buyers Can See Your Home Handling Winter Weather
When buying a home, it’s always a good idea to try and catch it on a rainy day to see how the house handles water. The same thing can be true for snow. Does your roof hold snow really well? Is your driveway easy to plow? Selling your home in the winter allows you to showcase how ready your home is for the harsher conditions.
Days on Market Don’t Matter as Much
During the high-inventory months, buyers are looking for reasons to eliminate certain houses. A lot of the time, a home with more than 50-100 days on market will turn off a potential buyer. This isn’t necessarily the case in the winter months. Instead of immediately jumping to the conclusion that something must be wrong with the house, winter buyers often just assume it’s because it’s the wintertime.
Spring Buyers Are Just Around the Corner
Have you been to a big box store yet? Spring decorations galore! It’s not too far away! And yes – spring is an awesome time to buy and sell. Just keep in mind that people start to think about buying in the wintertime well before those spring months. Get a head start and put your house on the market early so those early bird shoppers can fall in love while they’re snuggled up on the sofa browsing the Internet.
Feeling ready to sell in the Greater Baltimore area? Contact our team here: https://www.themdhometeam.com/sell/