Although winter is not typically thought of as a good time to sell your home, in these not-so-normal times…well, nothing is normal. Pent-up demand for homes began in 2020 and continues, and now more and more homeowners are coming to realize the benefits of the current seller’s market. The result? The winter selling season is hot!
COVID-19 forced a lot of lifestyle changes and historically low interest rates created a bit of a frenzy among buyers and sellers. The result is that there are significantly fewer homes on the market, making it much harder for buyers to find homes to purchase. And, yes, you guessed it – creating a seller’s market that will continue even if the freezing temperatures aren’t expected to cool.
When the inventory of homes for sale is as low as it is currently, it’s harder for buyers to find homes to purchase and ultimately drives up competition among buyers. That competition results in increasingly competitive offers that cause home prices to rise. As those prices rise, your leverage as a seller rises too, putting you in the best position to negotiate a deal that gives you the best possible outcome.
While the low housing supply won’t be solved overnight, putting your home on the market during this unusual winter selling season could help you to maximize the potential of your home sale. Housing data indicates that more prospective sellers are planning to list their homes this winter, so selling sooner rather than later can help you get the best possible result from the sale of your home, and beat the rush of those putting their home on the market in the spring.
Looking to sell your home this winter? Even during these unusual times, we provide calm where sometimes it doesn’t exist. Contact our team today.