A common thought in real estate is never to list your home in the winter. Perpetuated by industry experts, agents, and repeat sellers alike, this saying encourages many would-be sellers to wait until the spring peak to list their homes. However, studies show that homes listed in the winter sell faster than those in the spring, and sellers also net more than the asking price. So make sure to sell before spring. However, if you’ve been considering selling your home in the spring, here are five reasons to list now.
1. Take advantage of low inventory. Since most sellers wait until spring to list, local inventory falls during the winter. Today, the total number of listings in Boston/Brookline/Cambridge/Newton is 60% lower than in January 2022. However, some still motivated buyers are ready to buy now and want to purchase a home immediately. According to the National Association of Realtors, 55 percent of all buyers purchased their home at the time they did because “it was just the right time.” So while you’ll likely have fewer showings in the winter, buyers who do visit will be more serious about writing an offer. As a result, your home will sell faster than during the peak season.
2. Set a higher listing price. Homes sold during winter sell at a higher price, on average, than those sold during the spring and summer peak. There are many reasons for this. First, motivated buyers are willing to pay closer to the asking price for a home. Second, homes are more likely to be priced right and reflect the economics of the local market and the neighborhood.
3. Get a jump on other sellers. You’ll receive more attention. While our team always strives to give you the personal attention you deserve, when you list during winter, we can work more closely with you to ensure your home is prepared for its debut on the market. We can also take more time to answer your questions, aggressively market your property and prepare you and your home for sale.
Additionally, suppose you’d like to hire a trades-person to handle routine maintenance or undertake a minor home renovation before you list. In that case, you can take advantage of flexible scheduling and cheaper rates. Many of these professionals experience a winter slow down and will be able to focus their time and attention on you and your project.
4. Easier to maintain curb appeal. Curb appeal sets the stage for what interested buyers can expect when they step foot in the home during a showing or open house. If you list your home during the peak of the selling season, you may exhaust your time your energy maintaining a lush landscape that will attract potential buyers and set your home apart from other similar homes in the area.
The winter eliminates the pressure to maintain a picture-perfect front landscape. Since most grass, shrubs, and plants go dormant at this time of year, you’ll have less to maintain. If you live in an area that experiences a traditional winter, your landscape will be covered with snow. Even if you live in a milder climate, you may not have to mow as often, if at all. It’s still essential to ensure your exterior appears well-tended, so make sure your walkway and front porch remains free of snow, ice, and debris.
5. Tap into the life changes of buyers. Many buyers receive employee raises and bonuses at the end of the year. If they’ve been saving to buy a home, this extra money may allow them to reach their goal for a down payment and put them on the path to becoming a homeowner. Additionally, companies often hire new employees and relocate current ones during the year’s first quarter, creating a strong demand for housing.
If you’re thinking of selling, give us a call! We’d love to help you position your home for sale to gain the highest selling price possible.
Sources:
Federal Reserve Economic Research https://fred.stlouisfed.org/series/ACTLISCOU14460#0
National Association of REALTORS, 2022 Profile of Home Buyers and Sellers, https://www.nar.realtor/sites/default/files/documents/2022-home-buyers-and-sellers-generational-trends-03-23-2022.pdf