I know, you’ve heard you should wait until spring to put your house on the market.
I’m sure you’ve heard this adage at one time or another. Wait until spring, the house will show better, you don’t have to worry about snow, weather, etc. Well, I can understand that. However, it’s not the only side to this story.
There are fewer homes for sale in the winter, and that means less competition!
If everyone has heard that they should wait to list until spring, what do you suppose that results in? Loads of new listings in the spring. That means more competition. There are certain times when the market can allow a full speed ahead outpouring of listings (namely, when there is a huge push to buy and a surplus of ready buyers) but barring that situation, you could end up facing some serious competition by waiting to list until everyone else does. Ask your local realtor about historical absorption rates (the ratio between how many houses are on the market and how long on average it takes to sell them gives you an absorption rate; the approximate time it would take to sell off all listings currently on the market). If you are seeing long wait times historically in springtime, you may want to consider listing early.
Buyers who are looking in winter are often more motivated
If buyer’s are still looking in the dead of winter, slogging through snow and cold to see listings that have probably been on the market for a while, it means they have a good amount of motivation to buy. Maybe this is due to a job change, or a sudden move. Regardless of the reasoning, highly motivated buyers means sales prices closer to list prices, which as a seller is exactly what you are looking for.
Long story short, it is a distinct possibility that listing in the winter will get you a shorter time before agreement, and a higher sales to list price ratio. Contact us anytime to chat about this further, or to go ahead and get your home on the market for sale.