This time of year I get asked a lot, “Should I make a move now or wait until spring?” While the overarching answer is, the right time is when you’re ready, many people want to know the advantages and disadvantages of their timing. I think winter can be a great time to sell a home or even just to get started discussing the process, so you’re prepared when the time comes. So, here are some reasons you might consider selling your home this winter.
If you think from a simple supply and demand standpoint, this makes total sense. Most people know spring has a reputation for being the time many homes are listed for sale, but if there are three homes for sale on your block you have to do more to make your home stand out; the more homes that are on the market similar to yours the less the demand will be for your home.
During the busier spring and summer months lenders have more loans to process, appraisers have more homes to analyze and home inspectors can be pulled in many different directions. All of these moving parts can lead to a longer closing timeline, but during a season that is generally less busy these timelines can often be shortened. In fact, during the summer I recommend a closing timeline of 30-45 days but recently I had a home close in just 19 days from contract to closing.
There Are Serious Buyers Looking
When spring and summer hit there are a lot of people out looking at homes, but they may not all be serious about purchasing a home. If a buyer is willing to go look at homes when it’s cold, dark and rainy chances are they are serious about purchasing a home. Many people who are looking at homes in the winter may have been beat out on another home during the hot summer market or may need to move during this time due to a job relocation or be on a tight timeline for other reasons.
Not All Buyers Are Waiting Until Spring
Looking at statistics of google searches people searching for “real estate” or “homes for sale” dips slightly during the holidays and then jumps back up drastically the first week of January. In fact, searches in these categories in January are just about equal to the same searches in March. It could be beneficial to have your home on the market before the spring frenzy hits because buyers are out there, but many sellers are waiting until spring to list.
Bringing It All Together
If you’re considering selling, now may be the right time. Yes, there are advantages and disadvantages to listing at different times, but if you’re ready to make a move winter could be the time to do it. I have already met with multiple sellers looking to get prepared to sell their homes this year (and multiple buyers who are ready to enter the market as well) and we are not even three weeks into the new year. If this is something you’d like to chat about more please reach out to me, I would love to help. If you’re not local to the Willamatte Valley, I would still be glad to assist you – I have referral partners all over the world and I can put you in touch with an agent in your local area you can trust.