As we all know, Spring is the most popular time to buy and sell in the housing market. However, I give you other things to consider as to why winter is the ideal and best time to put your house on the market.
1. Low Inventory – Since spring is the most popular time, the housing market is ultra crowded with many options. Now, if you remember anything from Econ 101, you understand the law of supply and demand. Most sellers still think they need to sell in the spring, however, that means there is more competition for buyers attention. Now in winter, there is a low inventory, which creates more competition, and can make winter the ideal time to sell.
2. Winter Brings Out The Serious Buyers – News Flash!! Not everyone looking at houses intends to make a purchase. Some people are contemplating moving and may just want to see what’s on the market. Since more homes tend to go on the market in spring and fall, this is also when window shoppers are likely to be out looking. Now when i have buyers looking for homes in January and February, they’re real buyers looking to make a purchase – especially if it’s a great house. They don’t want to take the chance of waiting until spring and losing on the home. There may be less people at the open houses, but I would rather have 10 serious buyers come through, instead of 20 people that are just curious.
3. Faster Home Sale – It’s counter-intuitive but true: Homes actually sell more quickly in the winter months. There is no general consensus on why this is true, although low inventory is quite likely a big part of it? In winter most people don’t want to be dragged from showing to showing. Instead they want the buying process to be over and done with, so they are more likely to pull the trigger.