Conventional wisdom says that spring is the best time of year to sell a house. Legions of buyers are expected to scour the market before the next school year and move during the summer. And wintertime is too challenging, between the weather and the holidays, to even bother trying to sell a home, right? Wrong! Selling a house in winter may be a lot easier and more lucrative than you expect.
More Serious Buyers
People who are looking for homes in winter are more likely to be serious about making a purchase. Sure, there are more lookie-loos in spring, but winter brings out the folks who need to buy a new home in a hurry.
There are many reasons why people might be shopping for a house during the traditionally fallow real estate season. Most corporate relocation happens during January and February, at the start of the calendar year. Those workers often don’t have a lot of time to shop around for a new home, so they’re motivated to work fast and make a deal for a property that meets their needs. Additionally, end-of-year bonuses might just be the boost that a buyer needs to make a down payment on a new home.
Baby Boom
Did you know that more birthdays fall in September than any other month? It’s true! The late summer baby boom often leads to families in need of room to grow at the start of the following year. Real estate agents who have seen the seasons cycle for a few years notice a pattern of young families looking for new homes during winter.
Lower Inventory
The biggest reason to buy and sell during the winter is that there’s less competition. There might be more buyers looking during the spring, but there are also a lot more homes on the market then. Strategically listing a home in the winter could give the seller an advantage. In fact, with the market as hot as it is right now, even the coldest months are getting a boost.
Tips for Selling a House in Winter
There are a few strategies to make a winter listing more attractive to potential buyers. If possible, showcase photos of the home from spring or summer. Otherwise, add some winter curb appeal. Make sure the seller understands that there will be fewer showings during the winter, but that the buyers are more likely to be motivated. Finally, put extra effort into marketing the property. Cast a wider net than usual to attract the attention of out-of-state buyers.
