By: Derek Weatherhead

10 reasons why Winter a Good Time to Sell your Home

Tags: Sell, Home,Listing,listings,winter,time,best time of year, christmas, closing,kelowna,okanagan

 

 

So, you've been pondering back and forth and thinking about putting your home on the market and making a move... but the timing never seems right and you never know when is the right time?  Life moves fast and November is already here and the holidays will be here before you know it.  Entertaining guests, traveling, and spending time with family during this season is stressful enough that you can't even fathom the thought of potential buyers walking all through your home, dealing with inspections and navigating. 

So what do you do? Should you wait another few months after the holidays to list your home?

No.

In fact, according to Realtor.com the average number of days on market is 62 days. That means the longer you put off listing your home, the longer the sale will take to wrap up after the holidays.

Why Winter Is The Best Time To Sell

1. Less Competition
If you wait until spring to list like everyone else, there will be more competition. In the winter there are fewer homes on the market which will make your home stand out even more. Check out the graph below which shows clearly the sales vs listings throughout the year.  Your chance's of being listed in the SOLD section is surprisingly the best in December! (listings in green vs sales in navy blue)



2. Showcase Winter Readiness 
You can also use winter to your advantage when showing off your home’s features like fireplaces and hot tubs by making it cozy and warm. Selling in the winter also demonstrates that your home can handle harsh winter conditions.

3. No Yard Work!
Winter is a great time to sell for any home, especially a home that needs a yard makeover to sell.   No need to worry about your yard work.  Fall leaves, and fresh snow make your yard look fresh.

4. Eliminate Looky-Loos
As you know, just because someone is looking at a home doesn't mean they're serious. If someone is taking the time out of their holiday break to come see your home, chances are they're more intentional and serious. Although you may see fewer potential buyers come through showings and open houses, most of them will be more serious contenders. 

5. Stand Out From the Crowd
Most REALTORs and real estate offices have less inventory (active listings) during the winter months, enabling your home to stand out even more.  With less marketing noise from less inventory, all marketing efforts stand out more and allow your home to really stand out from the crowd.  

6. January is the Biggest Corporate Transfer Month
More corporate relocation moves happen during January than any other time of year.  Catch the corporate relocation buyers while you can.  

7. Higher Offers
Since we are approaching the end of the year, performance reviews at many companies bring more bonuses and financial freedom to a buyer's budget which is great news for you, the seller.

8. Timing is Everything, Sell now & Buy in the Spring
If your home sells quickly, you will be able to shop for your next home during the winter and spring.  Allowing you time to find a bargain!  More time to look and less pressure to shop and beat the other buyers.  Sell first and then you will be set up to buy in the spring when inventory and selection begins to rise.

9. Better Selection For you to Purchase
When you put your home on the market over the winter, and you have a SOLD sign up before the spring, you have the better option of shopping during the early spring and summer months when there is more selection of homes on the market.

10. Better Personal and Prompt Service
By selling your home during the winter months, you experience better, personal, and faster customer service from movers, lawyers, banks, insurance providers, and any service provider you need during the process.  Listing agents typically have more time to better serve their sellers and get all the right marketing strategies in place. 

Bonus!! 11. No Pricing Wars with Other Sellers
When there is less choice for buyers on the market, this means that there are less sellers to play pricing wars with.  Buyers will often make more of a concession in their buying decision when they have less choice. 

With all this being said, 62 days from November 26th is January 26th. So, if you want to sell with all these advantages in mind during the winter, you may want to speed up your decision to list your home.


If not now, when?
We know it may be scary, but if it's been on your mind for a while, now is the right time.