It's relatively common knowledge that Spring and Summer tend to be the busiest times of the year in the real estate world. So, at face value, it makes sense that you might want to target these seasons to list your home. But, you might be surprised to find out that Winter may actually be an even better time to sell. Want to know why? Here are 5 reasons you might not want to wait.
1. Less competition – Inventory is lower in the winter so your home has a much better chance at standing out and selling with multiple offers vs. in a saturated spring market. Especially this year, with record low-interest rates, those who choose to sell in the winter may be able to capitalize on an ideal market to maximize their home equity.
2. Motivated buyers – Buyers looking in the winter months are ready to make an offer. The winter months are a busy time for many people so those that prioritize a home search are typically much more serious. These buyers are more likely to be pre-approved for a mortgage and know what they want, so the odds of a showing turning into an offer are much greater. The window shoppers or less serious buyers are much more likely to hold off until spring. Plus, two of the biggest months for corporate relocation are January and February. These buyers are on a timeline and usually need to move quickly to find a new home.
3. A faster sale – What? Not what you were expecting? It’s true. Homes actually sell more quickly in the winter months. There can be a lot of reasons for this but it tends to be attributed to a lower inventory. Plus, let's be honest, in the winter most buyers don’t want to slog through showing after showing and are more likely to pull the trigger on a home they love.
4. A higher listing price – Also a bit counterintuitive isn’t it? Statistics show that homes actually sell at a slightly higher price in the winter. Why? Again, likely a combination of factors already mentioned. Plus, mortgage rates tend to trend upwards in the spring market, so to avoid the uptick in the rates, a buyer might be willing to pay slightly more to secure a home at a lower rate.
5. More attention – Again owing to the lower inventory, you may find you get even more attention and focus from your agent. In the busy spring market, your agent might have multiple other listings to manage. The winter months tend to be much less busy for many agents. This means more marketing time and resources for you and your property to get it sold even faster and for the most money.
Thinking you might want to pull the trigger and put your home on the market? Have questions? I'd love to hear from you...even if you're outside the Atlanta area, I'd be happy to help you get started. Reach out to me at firstname.lastname@example.org or follow me at @lindsay.walston.realtor on Instagram.