Is Winter The Best Time To Buy?
– You’ve cooked a gorgeous turkey and wrapped the Christmas presents with care, but you can’t help but wonder if now is the best time to list your home. Most folks automatically think that spring and summer are the busiest months in the real estate industry. And, thus the best time to buy or sell. While that may hold true in some parts of the country, one recent study showed that February is historically the best month to list. Interestingly enough, the study also showed that an average of 66 percent of homes listed in this time frame sold within 90 days. The study compiled data for nationwide home listings, time-on-market and sales prices from 2010 through October of 2014. In addition, the four winter months (December, January, February and March) had sellers netting more than their asking price. Thus, there is a winter real estate advantage!
Why Is Winter The Best Time To Sell?
There are few reasons why winter is the best time to sell a property. First off, it’s a less competitive market. Homeowners traditionally tend to be of the mindset that spring is the best time to list. For homes on the market, this means a smaller inventory for buyers to choose from and more attention from buyers. Secondly, with the colder weather, it brings out the serious buyers rather than just the lookie-loos.
Shorter days and bad weather don’t mean that all of the buyers have left the market. In fact, it’s completely the opposite. Serious buyers are in the market to buy! The spring and summer home buying season can be challenging. With the influx of listings and buyers looking, competition can be tough. Buyers use this time of year to watch the market for new listings and will act if a specific listing matches their search criteria.
It doesn’t take just the different seasons of the year to get a house sold. If the property is priced right and shows well then, it can sell any time of the year. Even if the weather outside is cold and frightful, selling your home doesn’t have to be. Contact us to get your home sold fast and for top dollar!
The Numbers Lie
Well, at least we think that they do. If you have heard that the numbers are down for selling in the winter months, then you must consider the amount of inventory versus sales. Sure listing numbers may be down, but sales are still being closed. Homes sold over the winter can sell faster and for more money. Don’t listen to all the media hype of a slow real estate market over winter months.
Buyers make home purchases year around. A growing family, new job or downsizing all happen year-round not just in the spring and summer months. There are some buyers that put their search on hold for warmer months and other numerous reasons such as changing their children’s school in the middle of the year. But, buyers searching this time of year are primarily searching because they need to move. Not just because the want to move.
With mortgage rates hitting new lows for 2014, buyers have many reasons to either begin or continue on with a home search over the winter months. Regardless of motivation, now is a good time as a seller to list a property or as a buyer to purchase a property. The spring buying season has traditionally kicked off in February, but now it takes place year-round. The cooler months do present many advantages. Don’t be like a bear and hibernate until spring. Now is the time to buy or sell!
Sell My Boston HouseIs Winter The Best Time To Buy?