Winter might not seem like the ideal time to sell a home in Holly Springs, Apex, or Fuquay-Varina. Typically, spring or summer are the more popular choices. In these seasons, the weather is usually better and there is often more inventory. Families with children prefer to move and settle before the start of a new school year. However, there can still be many advantages to selling in the winter. Let’s explore a few.
Less competition
Since winter is the least preferred time to sell, there may be less competition when selling a home. Generally, iIf a seller lists their home while fewer homes are also listed, they will have a better chance of selling it—there are simply fewer options available for buyers.
Currently, the housing market is experiencing overall low inventory, giving sellers an advantage during every season. However, since the number of available homes thins even more in the winter, those available will not have to work as hard to stand out. That said, don’t think you’re off the hook for staging your home. You’ll still need to make your home desirable to buyers if you expect to sell.
You may also be interested in: The 5 most common seller mistakes
Motivated buyers
Winter is often dominated by holidays and cold weather. Therefore, the buyers who are seeking a home during the winter are often more motivated. You won’t frequently find buyers dabbling in a new real estate adventure during one of the busiest times of the year if they aren’t serious. Sometimes winter buyers are relocating for work or experiencing a life change. Regardless of the circumstances, winter buyers frequently have a sense of urgency that you won’t find during other seasons of the year.
In addition to being seriously invested, winter buyers are often more prepared. A more prepared buyer can mean a smoother real estate transaction. They likely know what they are looking for and have made any necessary preparations before looking. Easy peasy!
Negotiating power
Less competition and motivated buyers give those selling a home an edge in negotiations. Those seeking a home in the winter might be willing to pay a higher price for a home to secure it. If a home is already priced competitively and in good condition, a buyer will be less likely to make a low-end offer. If they do, and there are fewer homes listed overall, they run the risk of losing out on a good home.
Strong offers give sellers an advantage. Not only can you expect a better offer initially, but there is an opportunity to negotiate a better sale overall. Sellers who try to negotiate in a saturated market are more likely to lose their buyers, who can easily more on to another property. Winter might bring cooler temperatures, but sellers see a hot opportunity.
Potential tax advantages
Buyers who close on a home by the end of the year might be privy to potential tax advantages. For example, mortgage interest and real estate taxes can be tax-deductible—a topic that many people are especially attuned to at the end of the year. While winter technically doesn’t start until the end of December, closing on a home by the new year still falls during the winter, so I’m going to leave it here as an advantage of selling. Potential tax advantages contribute to a buyer’s motivation and a better potential situation for sellers.
Flexibility
Not only does the winter give buyers more flexibility in their home searches, but many people have time off for the holidays and will use that opportunity to search for homes. The flexibility of searching during a few vacation days can make the home buying process seem less stressful. Sellers may also have time off for the holidays, so they’re more easily able to prepare for house showings.
Still not convinced? The data settles it. Winter listings are 9% likelier to sell, sell for 1.2% more, and are on the market, on average, for 7 fewer days. If you find yourself needing to sell during winter months, or just want to, you should feel confident that there are advantages to selling in the winter. If you’re looking for a real estate agent to partner with on a winter sale, contact me to schedule a consultation. I’m happy to help!