As a real estate broker, I often see home sellers waiting for spring before listing their homes for sale. However, there are many advantages to selling your home in the winter. Here are some reasons why winter is a good time to sell your house.
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Why Winter is a Good Time to Sell Your House
1. Get Maximum Exposure from Homebuyers Hungry for New Listings
Inventory is typically low in the winter, so you get maximum attention from homebuyers waiting on the sidelines. These homebuyers tend to be hungry for any new listing, and the moment they see a new one, they will jump on it.
You get maximum viewing, more than you can get in a crowded spring market. As a result, I’ve seen clients sell their homes with multiple offers, provided that they priced it right and the home was in good condition.
2. Mortgage Rates are Going Down
Mortgage rates have recently started falling. If you’re a home seller reluctant to sell your home because you have been locked in a low mortgage rate, then this downward trend in current mortgage rate will make it easier for you to trade in your current mortgage for a new one.
3. More Potential Buyers
Another benefit of the downward trend in mortgage rates is that there will be an influx of potential homebuyers. Many buyers have been waiting on the sidelines, not ready to buy a house because of the high mortgage interest rates. With mortgage rates going down, it will make it more affordable to buy a house and will result in more potential buyers in the market.
4. Low Housing Inventory
Housing inventory is low right now, with sellers waiting on the sidelines and many waiting for spring to list their homes for sale. This makes it a great time to sell your home because you have less competition.
5. The Bonus Effect
The first few months of the year are a great time to sell your home because buyers are cash-rich. The timing typically falls when buyers get their year-end bonus payout and also tax refunds. The feeling of being cash-rich makes buyers more willing to bid a higher price and make offers.
6. It’s “Easier” to Sell Your House
With less competition, it is easier to sell your house. That means homes that are not staged or not renovated will sell because you are the only game in town. You are not competing with homes that have been professionally staged and renovated, so it’s easier to sell your house in the winter.
Of course, you always have to make sure your home is priced right that rule applies whether you are selling your home in the winter or spring.
7. Sellers Who Need to Buy Can Do So Before the Spring Market Heats Up
Homeowners who need to buy a house can take advantage of this time when it’s less competitive as a buyer. By selling their home in the winter, these homeowners can potentially get a high price on their home and still be able to turn around to buy a house before the competitive spring market starts.
These homeowners will have the best of both worlds- potentially sell their home at a high price and buy a home at a reasonable price before the crazy spring and summer market starts.
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