Is The Winter A Good Time To List My Home
A question I frequently receive this time of year from sellers is should I list my home now or wait until spring. My answer is it depends – the decision should be based on your personal circumstances and what the current market conditions are in the area your home is located.
There are a lot of sellers that think waiting until spring is best but, if you know you want to sell in the spring it is a good idea to contact your agent now and find out what the local market conditions are in your area.
What if very few homes are for sale? It’s proven that when there’s less of something available it sells for more money and homes are no exception.
The myth that homes don’t sell during the winter seems to continue and the truth is that’s just not accurate. Real estate doesn’t stop during the winter. I think because in our area it gets cold and people spend more time inside it causes sellers to think that it’s not a good time to sell. This just isn’t accurate and it may even be easier to sell between January – March than it is in June – August.
Things To Consider When Selling Your Home In The Winter
If you are going to sell your house listing in the winter can lead to favorable results. The holidays are over and life isn’t as busy as it was for the last month giving you a little more time to decide when to list your home for sale. Before you decide to list your home in the winter there are a couple of things to consider.
Inventory Is Often Lower In The Winter
Let’s think about how many sellers wait until spring to list. More homes on the market equate to more competition for your home. Inventory in Kingstowne and many other areas in Alexandria is extremely low right now. Fewer homes for buyers to choose from plays in your favor.
Homes that are listed in the winter often sell quickly and for an excellent price; all of which are factors to consider when determining if you want to list before April. All markets are local but, speaking on Kingstowne I have found listing just before the spring rush is a great time to sell.
Many sellers are convinced that winter is a bad time to sell and that impacts how many homes are on the market. There are also homes that never sold during the summer and even the fall that have been pulled from the market with the intent to be relisted. Some even state in the remarks they’ll be relisted in the spring.
Our MLS requires a home to be off the market for 90 days before the days on the market will reset and the majority of the sellers who withdrew their home will wait for the 90 days to pass to reset the days on the market.
Buyers Are Motivated In The Winter
Keeping the cold temperatures in mind and the overall decline in activity that comes with winter in our area – buyers who are out and about looking for a home during the winter are more motivated than many of the buyers who are out on a beautiful and warm spring day.
Buyers are working with their own agent and they know that winter isn’t the most popular time for home sales but, yet there’s a reason they’re still out looking. Maybe they’re relocating, they may be motivated by the recent decrease in interest rates, and they may have a life change that causes them to need a bigger or a smaller home. There’s an endless list of reasons they could be out looking but, it’s safe to say a nice day to cruise around and enjoy the beautiful weather isn’t one of them. They are serious about purchasing a home.
It Gets Dark Early In The Winter
You might be thinking what the heck does that have to do with selling my home. Once it gets dark it’s not a good time for a buyer to see a home. I’m not saying you won’t have some appointment requests after dark but, you’re far less likely to have late evening appointments during the winter than the spring and summer. When I’m representing a buyer I discourage showings after dark because without light you can’t truly see all of the home or get a feel for it.
Winter will provide you with a little more flexibility and peace of mind that you’ll be able to maintain your daily schedule, especially in the evenings than if you sell during the spring.
Corporate Relocation Peaks In January
Corporate transfers happen year round but, they peak in January. Buyers who are being transferred for work are not only on a set timeframe they’re also highly motivated. This won’t apply to markets where people don’t tend to be transferred to for work but, in our market, it’s definitely something to consider. The more buyers interested in your home the better, and knowing that January is the most popular month for corporate transfers can mean more potential buyers for your home.
Closing Thoughts
Real estate is local and every market varies so if you are trying to decide whether it’s best for you to sell your home during the winter or wait until spring you should consult with a local agent who has a proven successful track record selling homes in your area and who is someone you trust. Receiving the best advice based on your personal circumstances and local market conditions will ultimately help guide you on what decision is best for you.
Additional Resources
Winter Curb Appeal Tips from multiple real estate professionals – article by Inlanta Mortgage
Tips For Winterizing A Vacant Home – article by RISMedia