Is Fall/Winter a Good Time to List My Home?
Conventional wisdom will hold that winter and fall are not good times to list your home for sale. Conventional wisdom is wrong and here’s why…………
• Low Inventory can work for sellers in a number of ways. The people looking in fall and winter are motivated, and with fewer options to consider, they generally pull the trigger more quickly. You can also avoid the “tire kickers” that are looking for an excuse to get out and about to enjoy a beautiful day – only serious buyers are out at this time of year.
• Deutsche Bank Research also shows that the median age of homebuyers is 47, so the school year dictates are less relevant than ever.
• When there is not a surplus of available homes, there is greater incentive to encourage a multiple offer situation. Remember the law of supply and demand drives prices higher.
• With the improving weather, your competition will also include more new construction starts in the spring
• I’m seeing rates as low as 2.37% right now. This is a tremendous opportunity for home buyers to save hundreds of dollars a month over just last year’s rate. As a seller, if you are also about to move up to the house of your dreams, it is unlikely it will ever be cheaper.
Year End Bonuses
• End of the year windfalls incentivize buyers – in particular, in the second home market. Having extra cash in a lump sum can make the initial deposit easier to manage.
• Many companies make relocation moves at the first of the year. These folks often have moving credits from the company to facilitate the move. With the influx of large corporations to the Charleston market, we anticipate this market will continue to grow.
• Contracts close sooner in the winter months because mortgage lenders are less burdened and it is easier to schedule inspectors, appraisals, etc. when the workload is lighter. This makes for shorter schedules all around and less time for issues to arise.
Blessings in Disguise
• Fewer people traipsing through your home means maximizing showings for true buyers. It also means fewer people tracking dirt inside.
• Landscaping demands are easier to manage and maintain than in the spring – especially in the Lowcountry where we have something blooming or green nearly all the time.
• You shouldn’t have to let the calendar dictate moving on with your life plans, it might be just the right time for you – call me to find out the right pricing and marketing plan for your needs