The cold weather and frantic holiday shopping may make you think about putting off your real estate plans until the Spring. The winter months can, however, be a busy time of year for real estate and those who are serious about buying and selling remain active. Here are just some of the reasons why you shouldn’t sit out the winter real estate market.
There is less inventory
In January of 2022, there were 269 homes added to the market across Barnstable County. While the number may seem high, it pales in comparison to later months. In June of 2022, only five months later, the number of new listings rose to 561 in the month.
With less choices, sellers are at an advantage when marketing their home to the buyer pool. Since there are limited choices for buyers, sellers could have a higher asking price or have the upper hand in negotiations.
Buyers and Sellers are motivated
Many buyers will delay searching over the winter months. Those who don’t are, therefore, far more motivated and eager to move. While your number of showings may be fewer they will be more meaningful. The same goes for those who host open houses. While summer open houses may bring you the casual observers who are coming off a day at the beach, it takes a far more interested party to traipse out in 27-degree weather to see your home.
You can see the house at its worst
Frozen pipes, single-pane windows, ice dams, leaks, inadequate insulation. The list of potential problems and projects will become even more apparent in bad weather. The added winter stress on a home will allow you to evaluate under the worst possible conditions rather than risking being surprised later on.
Holiday Décor can add to the staging
Minimal winter decorations can add to the seasonal ambiance of a home. When done well, this can be welcoming to potential buyers who picture themselves hosting a holiday gathering or enjoying a festive meal in the home.
Homes can close faster
Everyone is less busy in winter – including mortgage lenders. This added time they have to process paperwork and work with you individually may lead to a faster closing time. Trying to buy in a more popular season may mean waiting on your lender to get the ball rolling and get the money in your hands.