Winter is coming and you have finally decided to put your house on the market, but you heard somewhere that it’s better to wait until the spring.
But is this actually true?
There are a lot of reasons why listing your house in the winter, rather than waiting for spring, can actually be really smart. Of course everyone’s situation is different, and an experienced REX real estate agent in your area can give you the best advice, but here are a few things to consider when deciding when to list your home for sale.
1. Less Competition
It’s true that fewer people tend to list their homes during the winter months, but this means that your home has a better chance of standing out, as there will be fewer competing listings. Wouldn’t you rather be the only home for sale in your neighborhood, than have three of your neighbors also selling at the same time?
2. Motivated Buyers
Buyers have to be a bit more motivated to bundle up and go look at houses when the weather gets cold. The holidays keep people busy, and many people are traveling or entertaining guests. But these small hurdles to house-shopping just mean that you will likely avoid wasting time with buyers who aren’t serious and ready to make an offer.
3. Higher listing price
According to Trulia, statistics show that homes actually sell at a slightly higher price in winter. While this can be attributed to many different factors, one to consider is buyer concern over rising mortgage rates. These rate hikes tend to come in the spring-time and could be a motivating factor for buyers looking to get in under the wire.
4. Loans may be processed quicker
Because the housing inventory is generally smaller during the winter, lenders are less busy. This means that buyers can get their financing ready to go that much faster, making the closing process that much easier on everyone.
REX offers in-house lending options to buyers through REX Home Loans. Using REX is truly a one-stop experience that makes the entire process quick and painless.
5. Homes listed in winter sell faster
Zillow looked at home-sale-data from 2015-2017 and found some surprising things. Contrary to popular belief, homes listed for sale in the winter sold faster (by an average of one week), and were 9% more likely to sell within six months.The benefits of selling in the winter were true both for markets with very cold climates like New York, as well as markets like San Diego, with warmer climates.
Seasonality shouldn’t dictate when you sell your home. As you can see, the stats show that it doesn’t dictate when buyers may be interested. Make sure to talk to a REX representative today and find out how selling with REX can save you tens of thousands of dollars in fees.