Spring is generally the most popular time of year when homes go on the market, but why get lost in the fray when you can beat the horde? Deciding to sell your home in the winter could reap you some cold, hard cash.
1. More serious buyers.
Not only are folks willing to brave the weather to look at homes, but you’ll avoid running into what we call looky-loos. Not everyone at your open house or touring your home intends to make a purchase. Some people are just thinking about moving and seeing what’s out there. Since so many homes pop up on the market in summer and fall, this is where we notice the most looky-loos. During the winter, you’re less likely to deal with the not-so-serious crowd.
2. Less competition.
Low inventory means less homes that might compare to yours in a buyer’s mind. Since spring is the most popular home-selling season, the housing market is ultra crowded with options and will create choice overload for buyers. Just like we learned in basic economics, it’s the law of supply and demand. In the winter there are fewer homes for sale and competition over low inventory make it an ideal time to sell.
3. You can show off your home's winter readiness.
You’ve taken great care for your home to thrive during winter and showing it through the winter months allows you to show that off. A home that can handle harsh elements is a bonus, especially when you have four seasons like we do in Nevada. Sellers in Reno can show off features like a south-facing driveway that speeds up snow melting, plus features like fireplaces and hot tubs are much more appealing. Bonus: no need to tidy up landscaping when it’s blanketed with snow!
4. New parents may be searching for an upgrade.
A baby boom in September may lead to more buyers this time of year. The Center for Health Statistics and the Social Security Administration reported that there are more birthdays in September than any other time of year. Once a baby is home from the hospital and settled at home, parents may want to expand or change locations to a more family-friendly area.
5. Year-end financial bonuses and payouts.
Year-end performance reviews might mean people are now in the market to buy. Many people receive their bonuses after the New Year when all of the previous year’s financials are in and have been analyzed. For those looking to make a big move, upgrade or expand, winter is an excellent time to buy.
6. Buyers relocating for a job.
Folks who are relocating for a new job have a limited amount of time to make the big move. They don’t always have a lot of time to spend looking at properties and, if they have kids, they need to get them into school. Dealing with selling their old home adds an extra sense of urgency, so its likely once they find a home that fits their requirements then they will be ready to buy.
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