Winter is typically considered a slow season for the real estate market due to the cold, wet, and messy weather that can put off potential homebuyers and sellers. However, despite these challenges, winter can offer advantages for those interested in buying or selling a home.
- There’s less competition. Holiday gatherings and inclement weather tend to narrow the field. As a result, bitter bidding wars and last-minute losses to all-cash investors become far less likely.
- Sellers are more amenable to negotiations. Available properties tend to be new listings that need to sell fast or old listings that have lingered too long. Either way, sellers are ready to make a deal.
- Home efficiency is on display. Buyers can see first-hand how the heating, roofing, gutters, windows and insulation perform. Buyers may also have an opportunity to gauge property accessibility in harsher conditions.
- Winter is ideal for home staging. Think roaring fireplaces, cozy, seasonal decor, and eye-catching holiday lights. Plus, fewer homes on the market mean available properties have more opportunity to shine.
- Buyers tend to be more serious. Many have more purchasing power due to year-end bonuses. Most are motivated to close quickly.
For Buyers and Sellers
- Service is better. With fewer clients, agents can provide more attention and value to each buyer and seller. Fewer clients also mean fewer commissions, motivating agents to work harder and faster.
- Closings tend to be quicker. With fewer transactions, wait times for mortgage lenders and title and escrow companies are shorter. The result is a more streamlined process.
Any questions? Please feel free to reach out for more expert advice.