It has been a tough winter this year with consistent frigid temperatures, snow and ice. If you’ve been planning to list and sell your home this year, you might be on the fence about when to put it on the market – winter or spring. What do we say?List it now in winter!
When exactly is the real estate spring market?
Good question. It is definitely not in March. After the holidays and the new year has arrived, many people begin their home search. They start looking at homes on the Internet and then head out to see those of interest. These buyers are not waiting until the spring flowers appear.
Why? Mortgage rates are still low (with expectations of rising sometime throughout the year) and home prices are now starting to rise. Combine these two factors with a pent up demand for homes and you can see that people are eager to buy homes.
During colder months, there are not as many homes on the market and thus less competition of homes for sale. If your home has similar features to many other homes, having less competition can be a very good thing.
Are there less buyers during colder months? Maybe. But, on the other hand, those buyers who are braving the colder temperatures to look at homes are serious about purchasing a home.
It’s winter – although it may be appealing to get cozy and warm, now is a great time to sell your home.
- Less competition. There are less homes for sale during the winter months.
- Serious buyers. It takes more effort to look at homes when there is snow and ice. People looking at homes this time of year are usually very interested in buying.
- Mortgage rates are still low. Although mortgage rates have ticked up a bit, they are still low. With predictions for even higher rates, buyers will be looking for homes earlier this year.
Tips For Selling in Winter
- Keep your sidewalks, driveway and outdoor steps free of snow and ice to make it easy for potential buyers to enter your home.
- By neatly shoveling the snow, your home will look well maintained (just like a well-mowed lawn looks in the spring).
- Outdoor lights can make a home look quite attractive at dusk.
- Make your home feel warm and cozy by setting the thermostat to a comfortable temperature.
- It’s dark in winter, so be sure to have as much light come into your home as possible.
- Open drapes and blinds and turn on lights for showings.
- Add a warm throw blanket on a chair, couch or bed to add a sense of warmth to a room.
On average, 14,027 homes sell every day in the United States.
Are you thinking of selling your home in the near future? You could wait until spring, but we would like you to consider selling now during winter.
Don’t be afraid of the winter real estate market.
Think of selling during winter as a jump start on that busy spring market. During the winter season, buyers are more motivated and there is less competition of homes on the market.
See more reasons to sell your home during winter here.
Note: Average sales statistic from the Existing Homes Sales Report from the National Association of Realtors.