As a Realtor, I’m often asked, “When is the best time to sell a home”.
There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and Spring is the only time a house should be sold. This is the old school way of thinking. Certainly many real estate markets across the United States do experience some type of a “spring market rush” every year. Although Spring is an ideal time to be selling and buying real estate, while everything is in bloom, the fall and winter seasons are also a great time as well for several reasons.
One great reason to sell your home now and not wait until Spring is there is sure to be less competition. The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.
Quite simply; ” it’s the supply and demand” theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home.
Serious Buyers Are Out There
Homes are sold and bought every day of the year. Many homeowners believe that buyers aren’t looking during the fall and winter months. This simply is not the case. Serious buyers are always out there and looking! Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.
The fall and winter months are also a great time for a potential buyer to see what a specific neighborhood is like. Are the neighborhoods festive, decorated and look welcoming? These are reasons why Buyers will drive around and look for the neighborhood that is right for them.
The Best Agents Are Always Up To The Challenge
Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that. A great real estate agent can make suggestions and give some of their tips on how to sell a home during the fall or winter seasons.
Staging For The Holiday Season
Many sellers believe staging a home is the main reason a home sells. While staging certainly helps sell homes, some buyers have a difficult time envisioning themselves in a home no matter what you do. However, there are some buyers who can easily be “sold” on a home because it is staged. Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.
Mortgage Rates Are Low
If you’ve read about real estate in the past year, it’s likely you’ve read that the mortgage rates are very low. You also probably read that there is an expectation that the rates will increase very soon. Since mortgage rates are so low right now, buyers are able to afford more expensive homes. If mortgage rates increase over the fall and winter months while you’re waiting for the spring market, it could cost you thousands of dollars as it could eliminate many buyers from the real estate marketplace! Less demand for your home will mean less money. Bottom line: take advantage of selling your home while the rates are this low.
There are fewer real estate transactions than there will be in the spring. The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do. All of these factors should lead to a quicker transaction and closing for all the parties involved. One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.
By now, you’ve made your own decision as to whether it makes sense to buy or list your home now.