Is There Really an Off-Season for Buying & Selling in Hot Markets?
In the world of real estate, many professionals believe that winter is the worst time to buy or sell a home. But is there any fact to this belief or is it just a superstition? Also, can the reverse be true of hotter seasons, like summer and spring? Learn more about how a specific time of the year can affect your efforts to buy or sell a home.
Best Time to Sell
So, are spring and summer truly the best time to buy and sell homes? The answer is yes, but to a point. Summer and spring, particularly the period between March and May, are the times where the market is the most active. However, this isn’t always the case. For instance, while San Francisco’s best times were during those months, San Diego saw the highest sales in November instead. This is because San Diego has a very even, consistent climate throughout the year, providing no obvious optimal time for the market.
So, while spring and summer are generally the best times to sell a home, there is a difference depending on the location. The factors that affect the best market time between states include:
Hours of sunshine
Time zone differences
If you are looking to buy or sell a home at the most efficient time, research what the busiest period is according to your area.
Advantages of Winter
Even a traditional winter that real estate experts would find unappealing has its own set of benefits. For some people, buying and selling homes in the winter is the ideal time because of some unexpected advantages.
Winter has less competition, so buyers have more incentive to purchase a home.
There are more serious buyers in winter that don’t want to lose their offers waiting until spring.
More people are willing to spend money due to end-of-the-year bonuses, leading to quicker transactions for the sellers.
Solutions for Winter
Someone willing to take advantage of the small, but reliable winter market can take a few steps to improve his or her home and make it more attractive to winter buyers. Some of these steps include:
· Clearing the driveway and path from snow for your buyers
Using up-to-date photos that show off your home’s beauty during the winter
Keeping open access to the house, even during unlikely times, like Christmas and New Year’s
Cleaning your home just as much as you would during the spring
Pricing your home at market value or an appropriate price, just as you would during the spring
Adding plenty of color to your home to offset the inherent dullness of winter
Cleaning your windows so buyers avoid seeing dirt or grime that was previously hidden
Keeping the heat up in your home to make your home feel inviting and energy efficient