Winter is around the corner, but did you know it can be considered the best time of year to sell a house? If you’ve been told that selling your house in the winter might be tough, well that can be a myth. Here’s why:
Low Inventory Means Less Competition
The real estate market seems to be busiest during the spring season. The market becomes crowded with buyers, which can lead to many people bidding on the same house. With fewer homes for sale during the winter the competition of buyers dwindles making the winter months a prime time to list your house.
Show Off How Your House Handles the Harsh Elements
When buyers come through in the winter, they many notice a south facing driveway which gets direct sunlight and helps to melt snow, or a small drive meaning less shoveling/plowing, or they can see how the snow falls off the roof. As well, the cold weather outside makes for a cozy inside. Buyers might find a house with fireplaces, hot tubs or even an updated furnace more appealing when shopping this time of year.
Growing Family Looking for A More Spacious House
According to many studies, September is the month with the most births compared to any other month. Once the baby and family have settled into routines parents may begin to think about upgrading and moving into that larger home in the new year.
If Buyers Are Out Looking in The Winter -They Are Serious
Not everyone that comes to an open house or schedules a showing is interested in buying. They may just be curious to see what is on the market or just out window shopping. But the window shoppers aren’t as plenty in the winter. The people out looking in winter are sincerely wanting to move. They don’t want to wait until the spring when the market heats up.
Payouts, Bonuses, Year End Raises
Many companies hold year end performance reviews which results in raises, or bonuses, or payouts for employees retiring meaning people may have more money in the winter to purchase a house.
A common time for companies to relocate their employees is in the new year – January & February. Therefore, these families will be out house hunting in the winter because they often don’t have much time to find a new home. As soon as they find a home that fits their requirements a transaction will be completed!
If you are thinking of Buying, Selling or Investing in Real Estate this winter … Give us a call and we can get to work on helping you reach your goals!