Selling your Home During the Winter Means Attracting Serious Buyers
It has long been known that spring is the “best” time to list your home for sale. That understanding has historically lead to higher volumes of homes for sale through the spring and early summer months, flurries of open houses and increased volume of real estate activity. That volume also leads to a box-store-shopping mentality, where potential home buyers have laundry lists of homes to research, and multiple open-house visits scheduled. While this volume-shopping may sound ideal if you are a home buyer, the reality is that as a home seller, you have a better chance of selling your home more quickly when buyers have less choices, and are more strategic about the property they are seeking.
In a recent study from Redfin that reviewed more than 7 million home sales over the past four years, some interesting insights about selling a home during the winter could be a better option for some home sellers. Winter came in second to the busy spring season for better sale price and closing percentages.
“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”
“Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”
Consider this information as support to list your home during the winter. With less competition, and the need to act more quickly during the cold months, anyone intending to sell their home in the next 6 months may find it beneficial to connect with a real estate professional to assess the options for selling over the winter. Depending on the neighborhood and market specifics, it may prove profitable to be ahead of the spring rush.
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