Are you WONDERING.. WHAT IS THE BEST TIME TO SELL A HOME?
SHOULD I SELL my home in the WINTER?
Deciding on when is the best time to sell a house is an important question to ask. Should I sell now or wait? Is now a good time to sell a house? What should YOU do?
Did you know that waiting for the Spring peak market may NOT be an advantage for some home sellers. In this video uncover 5 key reasons to sell BEFORE the selling season picks up and why selling in the off-season, winter months may be your best choice.
A common thought in real estate is never list your home in the winter offseason. This idea is perpetuated by industry experts, agents and repeat sellers, and the saying encourages many would-be sellers to wait until the spring peak to list their homes.
However, studies show that homes listed in the winter off-season not only sell faster than those in the spring, but sellers also net more at this time. Waiting until Spring to sell your home may not be in the Sellers best interest.
If you’ve been thinking of selling your home, here are FIVE REASONS TO LIST IN THE OFF SEASON MARKET.
1. Take advantage of low inventory.
Since most sellers are waiting until spring to list, local inventory falls during the offseason. However, there are still motivated buyers who are ready to buy Now and don’t want to wait that long to purchase a home.
According to the National Association of Realtors, 55 percent of all buyers purchased their home at the time they did because “it was just the right time.” While you’ll likely have fewer showings in the offseason, buyers who do visit will be more serious about writing an offer. As a result, your home will likely sell faster than it would have during the peak season, when your home will be in competition with the increased number of homes on the market.
2. Set a higher listing price.
Homes sold during the offseason sell at a higher price, on average, than those sold during the spring and summer peak. There are many reasons for this.
First, motivated buyers are willing to pay closer to the asking price for a home.
Second, homes are more likely to be priced right and reflect the economics of not only the local market, but the neighborhood as well.
3. You’ll receive more attention.
While our team always strives to give you the personal attention you deserve, when you list during the offseason, we’re able to work more closely with you to ensure your home is prepared for its debut on the market. We can also take more time to answer your questions, address your concerns and prepare you and your home for the sale.
Additionally, if you’d like to hire a tradesperson to handle routine maintenance or undertake a minor home renovation before you list, you may be able to take advantage of flexible scheduling and cheaper rates. Many of these professionals experience a winter offseason as well, and will be able to focus their time and attention on you and your project.
4. Easier to maintain curb appeal.
Curb appeal sets the stage for what interested buyers can expect when they step foot in the home during a showing or open house.
If you list your home during the peak of the selling season, you may exhaust your time, your energy maintaining a lush landscape that will attract potential buyers and set your home apart from other similar homes in the area.
The off season eliminates the pressure to maintain a picture-perfect front landscape. Since most grass, shrubs and plants go dormant at this time of year, you’ll have less to maintain. And during the winter, your landscape will be covered with snow. Even if you live in a milder climate, you may not have to mow as often, if at all.
It’s still important to ensure your exterior appears well-tended, so make sure your walkway and front porch remains free of snow, ice and debris.
5. Tap into the life changes of buyers.
Many buyers receive employee raises and bonuses at the end of the year. If they’ve been saving to buy a home, this extra money may allow them to reach their goal for a down payment and put them on the path to becoming a homeowner.
Additionally, companies often hire new employees and relocate current ones during the first quarter of the year, creating a strong demand for housing. If you live in an area that’s home to a large company or has a strong corporate presence, this may be the perfect time to list.
So, there you have it! Five reasons why selling in the Winter may be advantageous.
If you’re thinking of selling or if you have any questions about the process, the market, or the value of your home, call at 905-965-5902 or you can schedule a call by clicking on the link CLICK TO SCHEDULE A CALL
We’d love to help you position your home to sell in our market!
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Also, if you are thinking about how to best prepare and stage your home for sale, you may want to check out our video How to stage a house DIY HOME STAGING Tips to sell Your House - click on the link to view CLICK HERE for: DIY Home Staging VIDEO
Sources: 1. Time, October 30, 2015
2. National Association of REALTORS, 2016 Profile of Home Buyers and Sellers