One of the most consistent real estate mottos is that you should wait until spring to list your home. While spring may be a peak time to shop for a home because of families wanting to move when school is out, winter is a great time to list because buyers tend to have more urgency.
In fact, a Redfin study shows that homes sold faster and average sellers net more above the listing price during December, January, February, and March, than they did between June and November. This applied even in cities such as Chicago and Boston.
Should you prepare your home now, to put it on the market in time for winter? There are a few things to consider, such as the number of days that homes in your area are on the market before selling. It might be better to hold off listing until the peak season if most homes are sitting on the market for more than 60 days. In many areas, inventory is low and markets are very competitive, so you may find homes in your area selling at a much faster clip.
Here are 5 factors that make winter a good time to list your home
- Lower inventory means more attention
Because most think they shouldn’t list their home during the cold season, there are fewer homes for sale. There are still buyers looking and guess what, your home stands out more in winter than when the market is full of listings in the spring.
- Sell for higher listing price
Statistics show that homes sell for a slightly higher price in the winter. This is due to several factors; your real estate agent would most likely advise you to price your home closer to the current market and neighborhood to insure that you wouldn’t have to wait until spring for a sale.
- Homes sell faster
While it goes against the grain of logic, homes actually sell more quickly in the winter months, even in cold weather areas. This might be due to a combination of low inventory and that most potential buyers don’t want to go to many showings and are more likely to end the process sooner and make an offer.
- No need to maintain landscaping
Listing you home in the spring and summer means having to maintain your landscaping, but winter listings don’t call for much maintenance beyond shoveling snow, if needed.
- Job relocations in the first-quarter
Companies tend to relocate their employees during the first quarter of the year, which means you can be assured that every winter there will be potential buyers looking for a new home and quickly. This is good for your asking price as relocated or placed employees often have credited moving expenses. If you live close to a large company, ask your agent how to target new incoming employees.
Written by Ari Meier