Should I Sell In Winter?

We get asked that question frequently. Or if a property is already on the market, sellers often ask if they should take it off. There are arguments as well as pros and cons for both schools of thought. We’ll break down each side to help you make the decision on if you should list your home in the winter.

Pros

1. Less Competition

It’s as simple as supply and demand. If there are fewer homes to choose from, your home will get more activity and showings, in turn, more offers for more money. Additionally, when there are fewer options, buyers tend to be less picky.

2. Buyers Are Serious

Although there are typically more buyers in the spring and summer, the serious buyers continue looking in the winter. If a buyer is truly serious, it doesn’t matter the time of year. During the warmer months, people go to open houses just for fun, but in winter only the serious ones are out. And typically they have a pressing matter that is requiring them to find and close on a house quickly.

3. Online House Hunting Is Year Round

The internet has made house hunting from the warmth of your own home easier than ever. People are constantly looking at listings online. In fact, 93% of people use the internet in their home search and that’s how most begin. The only time they have to deal with the cold is to see the shortlist of their absolute favorites.

4. Agents Are Up To The Challenge & Motivated

Since the winter months are a bit slower, most real estate agents are also slow. If you choose to sell during the winter, your agent will be able to focus more on you. But, you want to be sure you get a good agent that’s up to the challenge. There are hurdles that need to be jumped when selling in winter and a good agent will know how to adapt to the current season and market the listings accordingly. They’ll know the current market in the area and be able to provide you with tips and suggestions.

5. More From Out Of Town Are Looking

During the holiday season, many family members come from out of town to visit. So, if they are considering relocating, they would look at homes when they’re in town. This often means they need to find a home fast and have a bit more financial flexibility. Additionally, people have more time off work and they take advantage of that by looking for their next home. Lastly, more people relocate for work in the first quarter of the year.

 

Cons

1. Curb Appeal Is Difficult

In the spring and summer months, it’s easier to show off the curb appeal of your home with flowers, landscaping, and daylight until 9pm. Winter poses a problem since everything is covered by snow, and typically not fresh snow. Homes listed in winter are often viewed with things looking drab and worn because everything is brown and gray. You could decorate for the holidays, which will make it more appealing. On the plus side, you won’t have to spend as much time meticulously working on your yard.

2. Weather Can Be Inconvenient

House hunting in winter can be a chore for the buyers. They’ll need to bundle up and endure the cold temperatures. Fresh snow can also be a traveling hazards for potential buyers, so they may choose to stay home for the day. Also, you’ll need to make sure your driveway and walkways aren’t slick or snow covered. Those who do come to look at your home can track in salt and possibility mud, which you will then need to take extra time to clean after each showing.

3. Buyers Have Limited Budgets

Near the end of the year, many people have their money tied up in other financial obligations such as buying holiday gifts, traveling, setting aside money to pay taxes, or making sure their own home and car are winter ready. With such a tight budget, more people may not be willing to invest in a new home.

4. Buyers Have The Negotiating Power

Most sellers will get multiple offers in spring and summer because there are more buyers. When there are less, some buyers may drive a hard bargain. They may even think that a seller is desperate for any offer and so they low ball them. And often times, the seller accepts because they are worried they won’t get another offer until spring.

 

If you have any additional questions or concerns about selling your home, in winter or otherwise, contact us! We’re here to help, know the market, and can list your home appropriately.

 

Credit: First American Home Warranty, LiveLoveHomes, MoneyCrashers

Posted on February 5, 2020 at 6:39 pm
John and Tracey Tindall | Category: Costs and Spending, Helpful Tips, Listings & Selling your Home, Winter | Tagged , , , , , , , , , , , , , ,

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