Selling during the winter isn’t a bad idea. On the contrary, it might even make more sense than selling in the spring.
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Conventional wisdom says waiting until the spring to list your home is the smart move. However, there are some great benefits you will get as a seller by listing now. Here are four of them:
1. Less competition. Real estate is essentially a function of supply and demand. Right now, demand is lower than what it was in the summer, but the supply is way down as well. According to national statistics, homes listed in the winter are 9% more likely to sell and they are also likely to sell a week faster than homes listed in other times of the year.
2. Motivated buyers. Especially if they are being relocated to the area, home buyers in this market are anxious to get a deal done. A lot of them want to get all settled in by the time they start work at the beginning of the year.
3. Buyers have exhausted inventory. The buyers who have been searching for a home for months now have exhausted all the inventory available to them. This means that they are going to jump at any new homes on the market that meet their criteria. Your home could be one of those.
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A lot of buyers want to get settled in the next month.
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4. Interest rates have gone up. Buyers are much more motivated now than they have been in the past due to the impending rise in mortgage interest rates. Buyers are more likely to make a quicker decision to purchase now when they realize if they wait until March or May, those rates might be much higher.
These are just four of the reasons to list your home now. If you’re thinking about selling, the first thing you should do is give me a call. I’d be happy to come out and let you know what kind of price you could get for your home based on market conditions.
If you have any other questions, don’t hesitate to give me a call or send me an email. We look forward to hearing from you.
