Homeowners often wonder when is the best time to sell their home. Often they believe they should wait for the “spring market”, however while many assume that the property may not show as well or that buyers are unwilling to brave the cold, listing in the winter has some serious strengths.
Here are some of the top reasons why we think selling in the winter could actually be beneficial for you as a seller:
1. Less inventory, less competition
Plain and simple, less supply in our current market means more demand. When inventory is low it’s easier to stand out, especially in your neighbourhood. As we have seen over this last year, low supply has fuelled a strong seller’s market, which often results in multiple offers. This allows you to be choosier in the offer you accept, allowing for favourable conditions and a preferred timeline.
2. The buyers looking during the winter months are likely to be more serious
In spring and summer we have a lot of people who might be out looking at houses, however this doesn’t mean they’re qualified buyers. It’s possible they’re just getting a feel for what’s out there or indulging their curiosity. In the winter, buyers typically tend to be more serious, meaning they aren’t just browsing, they’re looking to buy!
3. Year-end bonuses
Speaking of serious buyers, they can be motivated by cash incentives received over the holidays. At this time of year it’s not uncommon for people to receive special bonuses, resulting in these buyers having more liquid (read: cash) assets available. This can increase their buying power, enabling them to offer bigger deposits and down payments.
4. Festive and pretty
When the family comes to visit for the holidays, that’s your cue to clean up and get all the decorations out. It’s also the perfect time to show off and have those buyers dreaming about hosting dinners in their new place!
Selling in the winter might feel unconventional, but it has the possibility to truly pay off. Lower inventory gives you the chance to get a better offer on your home and even sell your home in a shorter period of time. While you may experience a lower quantity of showings, they are typically higher quality showings to people actually in a position to buy. The cash in hand that buyers might have can give you the security and peace of mind that this deal will close smoothly. And with the help of your awesome Realtor, you can set the closing date for when the snow melts and before it gets too hot, so you can have a nice, comfortable moving day. With these thoughts in mind, if you were thinking of waiting until spring to sell, don’t! Give us a call so we can better understand your needs and create a custom plan for you, tailored to your preferred timeline and commitments.
Alexandra Visosky & Constance Guglielmo & Alyssa Vasey - Buying/Selling - Listing - Home Sales