Conventional wisdom says you shouldn’t buy or sell a home during the winter. But real estate pros will tell you that the winter can often be a great time to buy or sell. Why? Consider the following:
- Historically, interest rates tend to drop the most at the end of the year.
- The number of homes listed for sale drops in the winter, which means less competition for sellers.
- While there are fewer buyers looking, those buyers who are shopping are more serious about closing.
Remember that large employers often transfer employees in January to start the New Year, and that means even more motivated buyers are looking in the winter months.
According to Denver Metro:
“Some home owners may be hesitant to list in the winter, believing the cold-weather season won’t attract many buyers or leave the best impression of their property. But while spring may be the peak home shopping season, owners may be able to snag more for their home in the winter. The real estate brokerage Redfin found that on average, sellers net more above asking price during the months of December, January, February, and March than they do from June through November. ”