Yes, spring and early summer are historically the best time to sell a home. But, it’s important to remember that we all know this, which results in a quick influx of real estate inventory every spring season. With lots of homes hitting the market at one time, and many people are hoping to move into a new home before the next school year begins, competition is tough. On the flip side, if you decide to sell your home during the winter months, experts say you could be looking at a large increase of home sale profit!
Winter Home Sales Mean Less Real Estate Competition
The rule of Supply and demand is simple: When there is more demand than supply, prices increase. When there is less demand and too much supply, prices decrease. Currently there is a shortage of real estate supply in Southern New England. What does this mean for you as a potential home seller?
Yup, it means potentially more money! Sure, you can wait until Spring and list your home for sale then, along with many other people. Or, you can list in the winter months and have a competitive advantage with the potential to sell your home faster and for more money. According to Matt Van Winkle, founder of Re/Max Northwest in Seattle, “Most sellers still think they need to sell in the spring, but that means there is more competition for buyers’ attention.”
Think about it: there is nothing quite like walking out of the chilly cold into a nice, warm house. Especially if there is a fire in the fireplace and a lovely holiday-like smell. It’s easier to make a house feel like a home in the wintertime. If you’re selling your home near a holiday and have decorations up, make sure they accent your home appropriately. Also, having photos of your yard sans snow within your home can offer potential buyers a full range of the exterior of your home as well.
In the winter, there are fewer homes for sale. That competition over low inventory can make winter an ideal time to sell your home. And, it’s very important to remember that not everyone looking at houses intends to make a home purchase. Because more homes go on the market in spring and fall, this is also when the “thinkers” will likely be out looking. On the flip side, house hunting in the winter months tends to weed out these “window shoppers” and brings out the serious home buyers. The nicer your home looks, the more likely it is to sell—and for more money.
Show Off Your Home’s Winter Preparations & Seasonal Decor
Yes, it’s cold outside, so make your home a warm inviting place for potential buyers to revel and fall in love with. Selling your home in the winter months offers the opportunity to show home buyers that your home is designed to handle the harsh elements functionally and with minimal cost to potential buyers.
Plus, during winter months, homes with features like fireplaces and hot tubs can be more attractive to potential buyers, as well as ponds for ice fishing and ice skating and being located near a ski resort can be a benefit as well as a well-maintained driveway with easy access for snowplowing, generators, roof heating systems to prevent ice collection, and various other home features that can make the winter season easier to weather.
Winter Home Selling Facts
Did you know almost a million homes were sold in the United States in the winter months of 2018? It’s true, 973,000 homes were sold in the U.S. from December 2018 to February 2019. What does this mean for winter home sellers? Well, it means 1 in 5 (19%) of the homes that were sold in the 12-month period between September 2018 and August 2019 were sold when temperatures plunged. the amount of homes that are bought and sold in the winter is a lot more than you might think, so it’s important not to write-off the colder months as a no-go in terms of real estate capabilities.
If you’re ready to buy a house and/or sell a house this winter, we’re the real estate team you need on your side! Noonan Lombardi Realtors operates one of the most successful real estate teams for home sales, property management and rentals in Rhode Island, Connecticut and Massachusetts. We use top-of-line resources to make all your property dreams come true and we’re transforming the way consumers make home-related decisions and connect with professionals.
Based on our wealth of experience in the real estate markets across Rhode Island, Massachusetts and Connecticut, we feel confident you will be pleasantly pleased with the real estate services we provide, as we strive to meet each client’s specific needs, every single time. You’ll find our team centrally located at Remax Properties in Smithfield, Rhode Island (Noonan Lombardi and Associates 696 Douglas Pike, Smithfield, RI 02917). Call us today: (401) 580-8672