Spring and summer may be traditionally known as a buyer’s market, but did you know winter is the best time to sell your home? According to REALTOR® Magazine online, a new study by the real estate brokerage Redfin found that sellers who list and buyers who buy often find the winter season the most advantageous time to make a move in real estate.
The study found that historically, February is the best month to list your home for sale, so now is a great time to get a head start on the market! Buyers are motivated to close, so a larger percentage of homes listed in February sell within 90 days, sometimes even above their list price! Listing during the winter months has resulted in higher percentages of above-asking-price sales than listing during any others months, aside from April and May.
So why do sellers benefit from listing in the winter? A less competitive market! Since most sellers wait until spring to list their homes, listing yours in the winter means it will stand out. More potential buyers will be looking at your property, and these wintertime house-hunters are motivated to buy. There are fewer “window shoppers” in the winter, so when a buyer comes to look at your home, they are generally pretty serious about buying.
If you’re a buyer looking in the winter, it’s good news for you, too! Just as the seller pool is smaller and less competitive in the winter, the same can be said about buyers. Since most people prefer to do their house-hunting in warmer months, sellers may be more willing to negotiate on price or be flexible on terms with a wintertime buyer.
Whether you’re buying or selling this winter, trust the Three Rivers Association of REALTORS® to provide you with superior service! The Three Rivers Association of REALTORS® is a professional trade association of over 1,000 licensed real estate agents. For more information, visit our website today!
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