Historically, spring has been the best time to sell a home. It still is, but many experts say you don’t necessarily have to wait till the flowers are blooming to put your house on the market. Here’s why.
1. There’s Less Competition in Winter
Because there are generally fewer homes for sale in the colder months, the theory is that you will be met with less competition due to a bigger pool of properties and thus have a better chance of getting noticed by buyers. If you wait till spring when the market is over-saturated, you may not get the attention you deserve.
2. There Are More Serious Buyers in Winter
People who truly need a home won’t put their search off till spring. They will be searching earnestly in winter because they are highly motivated. While spring time can also attract serious buyers and bring in a lot of traffic, there’s a greater chance that many of those people will be curious browsers rather than buyers looking to secure a home.
When holding an open house in the dead of winter, you know only serious buyers will show up. This could work to your advantage as you don’t have to contend with all the window shoppers.
3. Interest Rates May Go Up Again
By waiting till spring, you risk interest rates increasing yet again, which could deter more buyers. Experts are predicting that interest rates will continue to rise in 2023 until inflation can be brought under control. Purchase power decreases with every interest rate hike, so if you put off your listing till spring, you could limit how many buyers would qualify for a mortgage to buy your house.
4. You’ll Get More Personalized Attention From Your Agent
Selling in winter gives you a better chance of getting more one-on-one attention from your real estate agent. They can take the time to walk you through the selling process and help you find your next home. In spring when things are very busy, you’ll still get the attention but it will be divided between many other sellers.
Contact Berkshire Hathaway Premier Properties for Home Buying Help
In the end, it’s up to you as the seller when you want to list your home. But if you’ve been holding off till spring because you think that will help your chances, you should speak with a real estate agent now and see why winter is the ideal choice. Learn more when you contact Berkshire Hathaway Premier Properties at 713-862-0000.