Most people think the best time to sell a home is in the spring and summer but it isn’t necessarily true. Though, it is typically the busiest time for selling a home. However, the winter is also a great time to sell and here’s why:
Buyers are more serious. Even though inventory is low in comparison, buyers tend to be more serious. Fall and winter buyers are more “need to buy” as opposed to “want to buy” a new home. Buyers during this time may have to buy because of job relocation, divorce, an unexpected twin pregnancy, which means they are serious about getting into a new home. And since inventory is lower in the fall and winter months, the possibility of a bidding war could work in the seller’s favor.
Buyers are less picky. Buyers also tend to be slightly less picky because, again, inventory is low so options are limited. Also, if the motivation to move is out of necessity, buyers are more likely to compromise.
Buyers and sellers are motivated. This works out in everyone’s favor. Again, since both parties involved are serious about moving, the process can go more smoothly since both the buyer and seller are motivated about the impending transaction. Since the market isn’t as busy in the fall and winter, people buying and selling more likely have to buy/sell (due to divorce, job move, etc.) as opposed to wanting to move.
The best time to sell also depends on your timetable. When do you want to be out of your house? Work backwards from there. How long will escrow and closing take? How much time do you need to prep your home for sale? If the market is up, most sellers will put their house on the market about 3 months before they desire to move.
Have questions about when the best time to sell is for you? Talk with a realtor today.