5 Reasons to Sell Before Selling Season Picks Up
A common thought in real estate is never list your home in the winter offseason. Perpetuated by industry experts, agents and repeat sellers alike, this saying encourages many would-be sellers to wait until the spring peak to list their homes. However, studies show that homes listed in the winter offseason not only sell faster than those in the spring, but sellers also net more above asking price at this time.
Don’t wait until spring to sell. If you’ve been thinking of selling your home, here are five reasons to list now.
1. TAKE ADVANTAGE OF LOW INVENTORY.
Since most sellers are waiting until spring to list, local inventory falls during the offseason. However, there are still motivated buyers who are ready to move now and don’t want to wait that long to purchase a home. According to the National Association of Realtors, 55 percent of all buyers purchased their home at the time they did because “it was just the right time.”
While you’ll likely have fewer showings in the offseason, buyers who do visit will be more serious about writing an offer. As a result, your home will likely sell faster than it would have during the peak season.
2. SET A HIGHER LISTING PRICE.
Homes sold during the offseason sell at a higher price, on average, than those sold during the spring and summer peak. There are many reasons for this. First, motivated buyers are willing to pay closer to the asking price for a home. Second, homes are more likely to be priced right and reflect the economics of not only the local market, but the neighborhood as well.
3. YOU'LL RECEIVE MORE ATTENTION.
If you’d like to hire a tradesperson to handle routine maintenance or undertake a minor home renovation before you list, you may be able to take advantage of flexible scheduling and cheaper rates. Many of these professionals experience a winter offseason, and will be able to focus their time and attention on you and your project.
4. EASIER TO MAINTAIN CURB APPEAL.
Curb appeal sets the stage for what interested buyers can expect when they step foot in the home during a showing or open house. If you list your home during the peak of the selling season, you may exhaust your time and your energy maintaining a lush landscape that will attract potential buyers and set your home apart from other similar homes in the area.
The offseason eliminates the pressure to maintain a picture-perfect front landscape. Since most grass, shrubs and plants go dormant at this time of year and snow often covers the ground, you’ll have less to maintain. It’s still important to ensure your exterior appears well-tended, so make sure your walkway and front porch remain free of snow, ice and debris.
5. TAP INTO THE LIFE CHANGES OF BUYERS.
Many buyers receive employee raises and bonuses at the end of the year. If they’ve been saving to buy a home, this extra money may allow them to reach their goal for a down payment and put them on the path to becoming a homeowner. Additionally, companies often hire new employees and relocate current ones during the first quarter of the year, creating a strong demand for housing.
Thinking of Listing During the Offseason?
Before you list your home, schedule maintenance, create light and clean....