Selling a house in the dead of winter might not sound like a smart idea, but there are a lot of benefits to selling this time of year. If you’ve been holding off listing your property thinking that no one will buy this time of year, you might be surprised to know that this could be the perfect time to sell your property. Here are five great reasons to list your home in the winter (even though it’s not that cold outside).
#1. Less competition
Because there are fewer choices for the buyer, your property will naturally be more desirable. If there’s only a handful of homes for buyers to choose from, it increases the odds of successfully selling your home. You’ll also get more serious buyers at open houses this time of year.
#2. Fewer showings
I know that might sound counterproductive, but in the peak of the season, there could be hundreds of people traipsing through your home, which can be stressful and increase the chances of theft. You might get fewer showings in the winter, but those are really serious buyers so you won’t have to deal with the looky-loos wasting your time.
#3. New year / New start
January is usually a time of new beginnings and a new home purchase might be just the thing to ring in a new year. Now that the holidays are practically behind us, potential buyers are getting in the mindset of home buying and can really focus on their move. Be ready for them by listing in the winter.
#4. The process could be faster
Because there’s just not that many transactions this time of year, the process should be quicker. This is a competitive market and buyers are doing all they can to stand out from the crowd, including getting pre-approved for financing. This alone will make the entire selling process much faster. Reports show that homes close on average 10% to 20% faster during the winter months.
#5. You might get a higher price
This too sounds a little counterproductive but surprisingly, studies have shown that homes tend to sell at slightly higher than average prices in the winter. This is usually due to reduced inventory and less competition. Buyers will also have more leverage in the spring to haggle the price, whereas, in the winter, you’re likely to get closer to your asking price.
Let’s not wait any longer. Home prices around Calabasas are increasing about 5% a year. Let’s find out how much your home is currently worth and how fast it could sell.