As we head into the coldest months of this year, many people might assume now is a terrible time to buy or sell. But don’t believe everything you hear! Although the majority of homes are listed in the spring/summer, NOW may be the best time to score a deal on that dream house.
Don’t believe me? Here are a few reasons it’s a great time for both buyers and sellers:
Benefits For Buyers
Ok ok – you’re right; there won’t be as many houses on the market, but there will be motivated sellers, less competition, and interest rates that are still low (there is a high likelihood of interest rates rising as the Spring market comes around).
- If a home is on the market during the slowest months, you may have stumbled on a motivated seller – someone who needs to move quickly/relocate or who has had their home on the market for a while with no luck. These sellers may be more ready to negotiate.
- Less buyers equals less competition. House-hunting can be a stressful process. The majority of buyers are taking time off from looking, which means you’re less likely to compete against multiple offers.
- With less people looking to buy and borrow during the winter, interest rates tend to dip, which is a bonus for borrowers.
Benefits For Sellers
This is going to shock you, but many of the reasons for buyers are also true for sellers; motivated buyers and less competition. You’ll likely find buyers you are 100% committed to finding a home; no looky-loos.
- In the winter, prospective home buyers are serious and motivated to buy. Sometimes it’s because they have no choice- their current living situation abruptly changed or a job transition left them with an urgent need to relocate quickly.
- Most home sellers sell in the spring market and thus the market becomes saturated. Potential buyers have possibly 30 plus homes to choose from. Yet, in the winter months, they might have only 5. Fewer options mean a buyer is less likely to risk losing out on a good home at a fair price.
While it might not be as ideal as warmer months for reasons that have more to do with convenience and comfort, homes do sell in the winter and a case can be made that it is actually the best time to buy or sell.
Have more questions about buying or selling during winter? Click here to schedule a FREE real estate possibility call with me!
Warmly,
Arynne Crane
