Casual Home Buyers May Hibernate for the Winter…the Serious Shoppers Stick Around!
A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.
It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest month for real estate. What is surprising, though, is that listing during the winter came in a solid second.
If you’re waiting until spring to put your home on the market, you’re going to want to reconsider–here is a poignant quote directly from the study:
“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same…buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”
This data demonstrates clearly that the popularly held conventional wisdom about selling (and buying) in the winter is simply wrong. In today’s fast-paced, high information housing market buyers are looking to move quickly and decisively–regardless of season.
Bottom Line: Why Wait? Serious Buyers Are Looking Now!
If you are debating listing your home for sale within the next 6 months, keep in mind that the spring is when most other homeowners will decide to list their homes as well. Listing your home this winter will ensure that you have the best exposure to the serious buyers who are out looking now! Give me a call today to kick start your winter listing 423-903-6404.