Should You Buy or Sell a Home in Winter?

Traditionally, wintertime is a downtime for the real estate market. The weather is colder, wetter and often messy, which can be a little off-putting for potential homebuyers and sellers.

But despite these seasonal challenges, winter can actually be advantageous for anyone interested in buying or selling a home.

In fact, winter can offer buyers and sellers many benefits that other seasons cannot.

For Buyers

• There’s less competition. Holiday gatherings and inclement weather tend to narrow the field. As a result, bitter bidding wars and last-minute losses to all-cash investors become far less likely.
• Sellers are more amenable to negotiations. Available properties tend to be new listings that need to sell fast or old listings that have lingered too long. Either way, sellers are ready to make a deal.
• Home efficiency is on display. Buyers can see first-hand how the heating, roofing, gutters, windows and insulation perform. Buyers may also have an opportunity to gauge property accessibility in harsher conditions.

For Sellers

• Winter is ideal for home staging. Think roaring fireplaces, cozy, seasonal decor and eye-catching holiday lights. Plus, fewer homes on the market mean available properties have more opportunity to shine.
• Buyers tend to be more serious. Many have more purchasing power due to year-end bonuses. Most are motivated to close quickly.

For Buyers and Sellers

• Service is better. With fewer clients to juggle, agents can provide more attention and value to each buyer and seller. Fewer clients also mean fewer commissions, which can motivate agents to work harder and faster.
• Closings tend to be quicker. With fewer transactions taking place, wait times for mortgage lenders and title and escrow companies are shorter. The result is a more streamlined process.

Any questions? Reach out today for more expert advice.