Buying or Selling in the Winter
Traditionally summer is the hot time for buying and selling a home and once late November hits, home sales start to slow. During the winter months, many people stay indoors causing homes to sell slower due to fewer people being out. The holiday season is also a busy time for many, redirecting their focus.
However, there are a few factors challenging the traditional norms of buying and selling during the seasons, such as the rise of remote work, digital schooling, and minimal inventory causing consumers to jump on listings regardless of the time of year.
If you are considering buying and selling this winter season but are apprehensive, there are some advantages to consider.
Tips for Selling Your Home this Winter
When it comes to decorating for the holidays, experts have mixed views on doing so when trying to sell your home. While normally, the rule is neutralizing your home, holiday décor can usually put someone in a good space and is fun and exciting for buyers with families. If you do choose to decorate, wait to hang up lights and décor until after your listing photos have been taken. Be sure to take down the outside décor after the holidays are over. If you live in a snowy area, be sure your home is safe for potential buyers touring your home. Make sure outside walkways and your driveway are clear of snow and put down sand and salt as an extra precaution. It is important to remember that there is a good chance your home will remain on the market longer during the cooler months, but that doesn’t necessarily mean you have to reduce the price.
Tips for Buying a Home this Winter
Buying a home in the winter does have some advantages and you could end up getting a better deal with shopping being slow. While market values don’t necessarily drop too much during this time, it is easier to get your offer accepted because there will be less competition among buyers. The colder months are a good time to check on the condition of a home. You are going to want to inspect the window and door frames to see how well they are sealed. If you can feel drafts coming in this could be something you can negotiate in the final sale. Remember that during this time there isn’t much competition, so sellers will probably be willing to work with you.
Advantages of Selling Your Home in the Winter
- There are a limited number of sellers on the market in the winter, so you’ll face less competition.
- Buyers often mean business. Trudging around in the freezing weather or breaking away from holiday schedules to look at your home probably means the buyer is serious.
- A lot of corporate relocation happens in the fourth quarter, so anyone looking for this reason is highly motivated. Similarly, many winter buyers are working against a deadline – an expiring lease, relocation, or contract in their current home.
- Lots of people have time off during the holiday months which means more time for browsing their favorite home apps and scheduling home showings.
Advantages of Buying a Home in the Winter
- You won’t have to deal with as many competing buyers since home sales take a bit of a plunge during the winter. Therefore, it is less likely that you have to worry about someone else snagging your dream home before you can submit an offer or get caught in a bidding war.
- You can lock in the current mortgage rate because waiting until the spring could result in even higher mortgage rates and prices. If mortgage rates go down, you can always refinance.
- Since supply and demand for housing are both down during the winter months, you might be able to save money on your purchase by getting a better deal.
Ready to Buy or Sell Your Home in the Winter?
There are advantages on your side to buying or selling during the winter. If you are looking for more guidance check out our buying and selling guides. If you are ready to get the job done quickly, your next step is to find a real estate agent to get started!
Sources: Business Insider, Better Homes & Gardens, Ramsey Solutions
Founded in 1971, First Weber Realtors® is a part of HomeServices of America, the nation’s largest provider of total home services. With 60 offices and more than 1,400 real estate professionals, First Weber is consistently number one in Wisconsin for unit sales and real estate sales volume. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
