While spring is generally the most popular time of year to sell a house, statistics show that selling a house in winter – even in places with unpredictable weather like St. Louis – can actually make a big payoff. We gave an insight into your winter listing in our 2017 article, but the evidence is all the more compelling as we enter a new decade!
Winter buyers are motivated buyers
Most people would prefer to stay indoors on a cold winter day and make themselves comfortable on a warm, crackling fire. When a shopper is out and about in the city and uses limited daylight, he has to trudge through ice and snow during the winter months to find houses serious, This is because many winter buyers have a deadline, be it an expiring lease, a move, or an urgent financial situation.
“When buyers look for houses in January and February, they are motivated buyers. They don’t want to take the chance to wait until spring and lose their home, ”he said Gabrielle Millenbruck, a broker at Coldwell Banker Gundaker in Kirkwood, MO. “We definitely see fewer potential customers working on open days in winter. However, if a winter buyer is planning demonstrations and tours, it means that they are now looking for the right house.”
The internet has no seasons
After a National Association of Realtors® Report 2018, Almost all home buyers (93 percent) used the internet to help find homes. In fact, almost half of all home buyers first searched for property online before contacting a real estate agent. Online search time is also likely to increase in winter as people are driven indoors in cold weather and the holidays offer more free time.
And don’t forget the old saying that a picture says more than a thousand words. In any season, online pictures of your home are the key to attract serious buyers. So hire a Certified Staging Professional (CSP) to make your home as attractive as possible. CSPs are trained to objectively view every detail of a house from the buyer’s perspective. They will help you showcase the best features of the house to create an immediate emotional connection with buyers. Even if your house stays occupied during the listing, a professional hanger can make the room look warm, cozy, and inviting to potential buyers.
Tax relief before the end of the year
Winter buyers may also be motivated to buy a house by the end of the year to take advantage of tax benefits such as deductions for mortgage rates, premiums for private mortgage insurance (PMI), and property taxes. And if you sell your house in the winter and buy another, you could end December and usher in the new year with more tax breaks!
The interest rates are as low as the temperatures!
Mortgage rates almost hit record lows in 2019, but the really good news is that real estate experts are expecting them to stay low until 2020. “People who take out mortgages will find that there is no time like the present. Over the next few years, the rates will be more likely to be higher than today than the rates will be lower, ”said Robert R. Johnson, finance professor at Heider College of Business at Creighton University.
The law of supply and demand: low stock levels, less competition
In the winter months, many sellers take their house from the market or simply postpone it to spring. While it may be a good choice for some sellers, spring comes your main listing is just another fish in a much larger pond. Listing your home in the winter months, when the supply of homes for sale decreases, can bring you enormous benefits as a seller.
“We had a number of winter deals bought by families who moved to the area with a corporate move,” he said Elizabeth Little, Owner and broker of the Elizabeth Real Estate Group in Clayton, MO. “January and February are big moving months, and families are keen to send their children to school and move to a new home. You can’t afford to wait until spring to make a decision. “
“Less” does not mean “none” when a house is sold in winter
Despite the cold and dark, buying or selling a home in winter may still be a necessary decision for many people. Yes, the market is more active in spring – a Redfin report shows that inventory and competition are 36 percent lighter in the winter months. According to the Missouri Realtors Association, more than 41,000 homes were sold from October 2018 to March 2019. This number increased by 11 percent compared to the same period last year.
“Things slow down in December, but there’s no question that buyers are still looking. A few years ago, three days before Christmas, I had a stock exchange that sold within a week Stayce Mayfield, Listing Agent at Redfin St. Louis. “If you have taken the steps to make your home look absolutely good based on the recommendations of your broker and administrator, your home will sell in all seasons.”
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