So you’ve decided that you want to sell your house? That’s great! Now comes the questions of timing. Many people think spring is the best time to sell their homes however it’s a common misconception that waiting until spring is the best time. Sure, spring can be a good time to sell but there are many reasons to consider selling now or over the winter. Here are a few things to considering when choosing when to sell your home:
- Most people think that spring is the best time to sell and therefore more people do sell during spring which means A LOT more competition.
- Again, since most people think spring is the best time to sell there are typically less homes on the market during the winter months resulting in MUCH LESS competition.
- Buyers that are shopping during the winter months are usually MUCH MORE motivated than spring and summer buyers.
- The holidays bring families together, people take time off of work, and people’s emotions are much stronger.
If you look at the basic concept of supply and demand along with expected seasonality in the housing market you’ll see a larger supply of homes for sale in the spring time and into summer months with numbers tapering out through fall and into winter. While there can be an argument that demand matches this rise and fall of supply the motivation of available buyers does change. Buyers in the spring time are typically looking for a good deal, willing to shop around more, and more willing to pass on a prospective home while buyers in the winter typically have a more serious underlying motivation. This lack of supply combined with more motivated buyers many times results in homes selling quicker and netting the seller more money.
If you’re considering selling your home in spring you may want to re-evaluate and consider selling now or during the winter. Please give me a call today to discuss your options.
Thanks for reading!