Are you trying to decide whether you should sell your home this Winter or wait until Spring? We look at reasons why selling your home in the Winter may help you sell faster and for a better price.
Reasons to Sell your Home in Winter Months
History says Homes Sell Well During the Winter Months
Traditionally people think Spring is better than Winter to sell their home . However, the facts may not support this assumption. In a research project conducted by Redfin in 2015, very little difference was found in the amount of time it took a house to sell in between the four seasons. Redfin evaluated over 7 million sales between 2010 and 2015.
The research shows that January through March may be a slightly better time to sell your home. Comparing each season, there’s only a marginal difference. Both the time it takes to sell and the selling price vary only slightly between the four seasons.
There’s less competing homes for sale
The number of homes for sale increases dramatically during the late Spring and early Summer season. Looking at the graph below of the previous two years of housing inventory, there’s a definite increase starting in May. December has the lowest inventory because of the holidays. However, in early January there is a slight bump in inventory but it settles down quickly only to increase towards the end of the school year. If you want to avoid competing with this increase, it may be better to list your home for sale in the Winter months.
Get a higher price
With less competing houses, serious buyers are left with fewer homes to choose from. If your home is in great condition, you may be able to sell your home above it’s list price. The key is don’t overprice your home and prevent potential buyers from becoming interested in your property.
The key is being ready to list your home early before your competition lists their home. This means having your house, clean painted, free of clutter and ready for the public.
Tax refunds are coming
First time home buyers may be planning on using their tax refunds or holiday bonuses to buy their first home. You can take advantage of selling your home to these buyers by being first on the market. Currently, the estimated delivery of tax refunds should start arriving February 15, 2019. Just in time for early filers to begin looking to buy a house.
Fewer strangers going through your home
No one likes having strangers walking through their home. During the colder winter months, the prospects walking through your house tend to be more serious. That means less having to answer last minute phone calls from agents wishing to show your home to prospects who have no real motivation to buy a home. Less interruptions for your family.