People who are looking to sell their home scoff at the notion of selling their home in the winter. Between the holidays and the weather, people always seem to put off listing their home in the winter. The belief is, the spring time is the ideal time to sell your home. While there might be some truth to that, there are benefits to selling your home between the months of Selling your home between the months of November and February.
Here are five reasons why selling your home in the winter, could be a smart move.
1. Low inventory = less competition: The same applies to buyers in many ways. However, if you are a seller, there is typically less inventory on the market and so when you do list, your home ends up one of the top homes in your town or city just based on number of homes on the market. Homes do usually sell at a slower pace this time of year however if you have a property that is unique and appealing, there will be plenty of buyers out there that would be interesting. Inventory has been at historically low levels for the past five years but there is usally more competition in the spring so if you are going to sell, the winter might be the right time of year.
2. Legitimate buyers tend to buy in the winter: Buyers who are serious tend to buy year round. Winter is no obstacle for them. Buyers also tend to buy when they are ready financially. If you list your home in the winter, you are more than likely going to deal with buyers who may have been saving for a while and ready are to move forward with a purchase. Savvy buyers know that the winter is the right time to get into the type of home they want. That reason alone makes it worth listing this time of year. Some people do not want to compete for a house. They do not want to feel pressured to make a decision. Typically the winter housing market is not as stressful for buyers or sellers.
3. People tend to have more disposable income in the winter: People tend to have more disposable income in the winter. Whether they have been saving towards a down payment or company bonuses, buyers tend to put more money down this time. Part of the reason they are willing to put more money down is they are not competing with as many buyers. They do not necessarily have to go over asking. Even if they do go over asking, it is not an outrageous amount.
4. Buyer relocation: People who are starting new jobs in different states tend to relocate at the beginning of the year. January and February are big job relocation months. That means that people who are relocating for a new job are also in the market for a new home. Massachusetts is a major job relocation state so being willing to list prior to the spring could be to your benefit, especially after the new year.
5. Process is easier: The process is just easier. Loan officers, lawyers, inspectors and appraisers are more flexible. They are not slammed this time of year so they can get things done faster. As a seller, if you are looking to close quickly, then the winter is the ideal time to sell because the process is not as bogged down as it is in the spring and summer. Even in this era of COVID, you can sell your home and move into your next residence in 30 to 45 days.
The real estate market is still strong. The industry is no longer seasonal in Massachusetts. Buyers are out there and they are looking for the right home. If you think you own a home that would be appealing to buyers and are interested in selling, then call me or email me and let’s discuss the market in your town and city. I would be glad to do a free Comparative Market Analysis (CMA) for you and tell you what your home is worth.