Don’t wait till spring. Sell now when everyone else is getting ready!
It is widely reported that the best month of the year to buy a home is January. I’m actually pretty certain that this statistic is true although the reasons for it may not be that compelling to most homebuyers. Those reasons may include those home sellers who really want (or need) to sell and it may include sellers whose homes have lingered on the market since the end of November – those who were too late for the end of the Autumn market. Every year, once December hits, home shoppers it seems hang up their searches and go to the mall, Christmas parties and do whatever it is we do once we’ve clicked into “holiday mode”.
I don’t know. I don’t sell many or help many people buy homes during the winter months. I, like many people don’t even like to venture outside anymore than I have to in the wintertime. I am a warm weather Realtor.
Reasons to sell now
Having said that, there are some very good reasons to sell your home during January. Here they are:
Few homes, many buyers
Since about the middle of November there have been fewer and fewer new listings entering the market every week. But the number of buyers has been building and building. That means, essentially at this point we have eight weeks of fewer and fewer listings at the same time as eight weeks of more and more new buyers (not to mention the old buyers who gave it a break at the end of last season). Hey, it’s a seller’s market!
A warm place safe from the elements
Maybe I’m unique in this but I always like to buy my cars in the winter. I started doing this mostly because I’m not a fan of winter and I need and want my car to be a good winter car. For example, I could never buy a convertible or a light and tiny car thats not good in the snow. They just are winter-ready enough for me. I need to power through the snow confidently and in comfort.
We all know that spring and summer are the best times to show off your home. And people are more relaxed and easy-going then. But with a house, like a car, what you really want is winter-ready. You want a warm and comfortable place, safe from the elements. If your home has a hot tub or a fireplace, all the better.
Life goes on
There are always people moving. Maybe it is a new job, maybe to be close to family, maybe it just worked out that way, but people move during the winter months. They don’t wait till March 1st and say, “ok, let’s move”. Sometime we want to change but more often, change is thrust upon us and then we have to deal with it. There are buyers out there now. Maybe you shouldn’t wait till spring!
Back in November I wrote a post thinking about buyers waiting till spring to buy. That post argued the many reasons not to wait. I gave some then-current examples of how the mid-autumn market brought out the serious home buyers. Winter brings out the serious buyers too. And so does summer. Only in springtime do you get the lookie-lous and the tire-kickers. If it is -15C and someone is out looking at homes, you have to ask yourself, are they serious?
The pause that refreshes
I have a feeling (and the website statistics to prove it) that buyers decide over the Christmas holidays to start the process of finding properties to buy. In the early weeks of January I always, always see a spike in traffic to my websites, I get telephone calls and chat widget conversations. I’ve always thought that the holidays is a time when people relax and take stock, taking with their spouses or parents and that’s when they decide to take action.
Some employees and business owners also get their annual bonuses at the end of the year.
Life changes, like moving to a new city or being transferred to a new job often prompt home purchases. Getting married is another. First time home buyers make up nearly 40% of the real estate market.
Having a baby is another life change that often prompts a home purchase. Do you know what month is the most common month to have a baby? September. That means by January, new parents are ready to start looking for a new home.
More about selling in winter: here
Call to action
I was only kidding about being a ‘warm weather Realtor’. Email me now. I’m here to help now.