“If you’re thinking about selling a home, wait until it’s springtime.” That has been a rule of thumb when it comes to buying or selling winter real estate. Selling a home during the holidays was once something very few people did. It’s true that the warmer months could be an ideal time to sell real estate. However, the case for the holiday season being a rapidly expanding frontier for buying and selling real estate is difficult to ignore.
At first glance, the holiday season appears not to be an excellent time to sell because it’s often a hectic time for most families due to increased social demands. In reality, winter home sales and purchases are rising while the number of days listings used to stay on the market continues to fall.
Selling Real Estate in The Winter
Are you torn in between putting up your home for sale in the winter or waiting until the cold season has passed? Every year, a new wave of buyers is ready to buy homes. Looking at the rising winter home sales over the past few years, winter is an excellent time to sell. Here’s a comprehensive guide that will help ensure you’re better off focusing your efforts on selling real estate this summer.
The Pros of the Winter Real Estate Market for Sellers
- Buyers are Serious and Motivated: Since January is a big month for job relocations, buyers actively shopping for homes during the holidays are likely to be very motivated.
- Fewer Homes on the Market Equals Less Competition: There’s less competition from other sellers due to fewer homes on the market in winter.
- Festive Neighborhoods are Inviting: Winter affords you the chance to showcase your neighborhood as homey and inviting.
- You Enjoy More Attention from Agents: You get to receive undivided attention from your agent since agents have fewer listings.
- More Time Off Work: The holidays tend to be popular home shopping days, thus affording you more showings and open house options.
The Cons of the Winter Real Estate Market for Sellers
- Lowball Offers: Buyers may think winter real estate sellers are desperate to offload homes. So be prepared to field lower offers than you might during other times of the year.
- Curb Appeal is Limited: Curb appeal is typically lacking in most homes during the colder months, thus making it a challenge for you to show off your home’s exterior.
- Holidays Slow Lenders Down: Delays stemming from vacation schedules and bank holidays mean it could take longer for a buyer to get their financing finalized during this period.
- You’re Less Likely to Get Multiple Offers: In the winter selling season, multiple-offer situations that pit multiple buyers against each other are less likely to occur.
- The Winter Season Makes Some Home Flaws More Apparent: Flaws such as a dark or leaky home tend to show themselves more dramatically during the cold weather season.
Buying Real Estate in The Winter?
Are you keen on buying a home during the holiday season? The winter housing market can afford you the chance to grab your best deal. Due to a large number of sellers motivated by job moves or a life change, buying winter real estate affords you a great opportunity to save money.
Buying a home in the winter can be a smart choice. Our extensive buyers’ guide will help you navigate your home buying process successfully.
The Pros of Buying Real Estate in the Winter
- Prices are Down, Thus Home Affordability is High for Buyers: This means that buying real estate during the winter will cost less than in the spring.
- Movers Have Higher Availability: During winter, moving companies are not as busy as in the summer; thus, hiring one is very easy.
- Quicker Transactions: In the winter, the schedules of bankers, notaries, and real estate brokers are less packed, meaning you get to close on your preferred home in no time.
- No Bidding Wars: Another plus for you as a buyer is that bidding wars are less likely to occur, thus allowing you to seal your deal quickly.
The Cons of Buying Real Estate in the Winter
- Fewer Choices: With fewer homes on the winter market, you’ll have less choice when compared to the high season.
- Inspecting the Home Becomes More Challenging: Due to the weather conditions, snow and ice, it may be challenging to inspect some parts of the house and landscape.
- A Winter Move Requires More Organization: A move on a winter day may require more preparation and a little more planning than during the spring or summer months.
If you’re ready to make a new life transition, whether you’re buying or selling, there’s no point in waiting for a change of seasons. Our team of trusted guides can help. Reach out to our team to get started!