Should I Sell My Home in the Fall or Winter?
There seems to be a season for everything, right? And with real estate, there is no exception. Or so many think. Is there a right time of the year to sell your home? Isn’t springtime the best time to showcase your property? And aren’t there fewer home buyers in the market during the colder, fall and winter months? Sure there are, but that doesn’t necessarily mean holding off on selling your home. If for example, you’ve decided to sell and your real estate agent tells you your home will sell for a certain amount and you like what you hear, why wait? There’s always the market can turn. If home sales in your area begin to slow or even if there’s a recent foreclosure in the neighborhood, it’s possible your property value could take a hit. But let’s look at why some say it’s best to sell in the spring or summer.
For many, buying a home in the spring or summer is a matter of convenience. For families, they can buy a home, sell theirs and make the move during the summer months when the kids are out of school. There is more inventory in the market and more properties are available so that’s what brings the shoppers out. More inventory means more buyers, right? Yes, but there’s a flip side to that coin. You’re also competing against others who are selling their homes at the same time, often in your neighborhood. When it’s a seller’s market, sellers can command higher prices. Yet when similar homes are for sale in the same neighborhood, something’s got to give. And that give is lowering your price. Yes there more buyers during this period but then again there are also more sellers.
In the fall and winter, active buyers are pretty serious about buying. They’re motivated. That’s why they’re out there looking for a home to buy in light of lower inventory. It’s colder outside, too. Who wants to attend weekend open houses or see a property when there’s a chill in the air? Those who are serious about buying home and don’t have the negotiating power they might have if they knew they could wait until next spring. If you get an offer in the fall or winter, you can expect to get the price you really want.
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