WHY SELLING YOUR HOME IN THE WINTER CAN HELP YOU EARN TOP DOLLAR
When it comes to selling your home, timing is everything. While many people think that spring and summer are the best times to list a home for sale, there can be some great benefits to selling in the wintertime as well. In fact, Anthony predicts that homes placed on the market now will sell for more, and those who waited until the spring to sell will be frustrated when they aren’t able to get the same results as their neighbor!
If you’re considering putting your home on the market during this time of year, here are just a few reasons why doing so could help you get top dollar for your property:
Low Inventory and Less Competition
One of the biggest benefits is that there is usually less competition due to lower inventory – see the yellow circled area in the charts below. Since many homeowners wait until spring and summer to list their homes, there are fewer available properties on the market during this time. This means you have a better chance of standing out among all the other listings and attracting more serious buyers who may be motivated by the lack of options.
Additionally, since demand tends to be higher when supply is low, you could potentially get a higher sale price for your home than if you tried to sell it during peak season. In the charts below, you will see average price is typically the highest in late spring and early summer as this is when those deals from winter and very early spring actually close. Therefore, pricing your home right is imperative to ensure your home remains competitive, doesn’t sit on the market, and maximizes your return.
Increase of Serious Buyers
Buyers who are shopping for homes in the winter are often more serious and motivated to make a purchase. They may be facing time constraints, such as a job relocation, divorce, or the need to move before the start of the school year. This can work in your favor as a seller, as motivated buyers are often willing to pay a premium to secure their dream home. Additionally, although increased mortgage rates initially discouraged potential buyers, they are now hovering in the mid-6s which could mean significant savings for potential buyers. Serious buyers are also now exploring different mortgage options, such as assumable mortgages or buydowns, in order to secure the financing they need to get into their new home as soon as possible. Prospective buyers also tend to come out in droves after the 1st of the new year to begin pursuing their goal of becoming homeowners!
Different Opportunities for Curb Appeal
In the winter, the lack of foliage and colorful landscaping can make it harder for buyers to envision themselves in your home. Therefore, many prospective sellers want to wait to list until the spring when they believe their property has more curb appeal. Here’s the catch – EVERYONE lists in the spring. If you list during the winter months, there will be far more demand for your home due to the lack of homes available. Sure, your flower garden might not be featured, but this is an opportunity to highlight the features of your home that are not as visible during the warmer months, such as a cozy fireplace or a well-maintained deck. Staging your home to look as cozy and inviting as possible can make it easier for buyers to imagine themselves living there. Plus, you can always take a picture of the outside of your home in the summer or fall, and add it to the library of listing photos so people get a sense of the yard and landscaping!
To conclude…BE THE FIRST IN YOUR NEIGHBORHOOD TO LIST!
Don’t be a want-to-be seller in 2024! If you are thinking about selling your home, don’t wait! Serious buyers are looking to get into a home NOW and this demand combined with lower inventory can get your home sold fast and for top dollar compared to waiting until the spring! Don’t get lost amongst a sea of sellers when the spring months roll around, list now and get to enjoy your first spring in your new home.