Many homeowners are hesitant to list their home in the winter thinking that the cold weather season won’t attract many buyers. But while spring may be the peak home selling season owners getting started by the first of the year may be at an advantage.
The real estate brokerage Redfin found that on average, sellers net more above the asking price during the winter months. Their study found this to be true even in cities like Boston and Chicago and that homes listed in winter tended to sell faster than those in the spring.
One advantage for winter home marketing is the fact that many corporate or professional transfers focus on ‘the new year.’ These transferees are serious buyers and know that properties coming on the market at the first of the year are owned by ‘serious sellers’ motivated to get a jump on the ‘spring market.’
Winter sellers know that inventories of homes on the market tend to be lower in winter and therefore they could be very well facing less competition. They feel that if their home doesn’t attract a buyer they will have the advantage of ‘market feedback’ from agents and buyers and have the time to make recommended condition and price adjustments before the April rush.
Naturally winter buyers will be more focused on issues like heating systems and heating costs as well as supplemental heat sources like fireplaces and wood and pellet stoves.
Home stagers agree that the gray days ahead can leave a gloomy impression and advise sellers to emphasize a sense of warmth inside the home . An added tip is to pay close attention to lighting. It’s advisable to increase bulb wattage and add fixtures in areas that tend to be dark.