I’m often asked if winter is a bad time to be buying or selling. My answer is always the same: Though there are fewer properties on the market and therefore less to choose from, buyers will often have more negotiating leverage than they do in the spring, when sellers are confident and buyers are plentiful. This is especially true if a home has been on the market for many months. If a property is new, you can bet the seller is on a deadline. Given a choice, most sellers would prefer to wait until spring.
Sellers: Buyers who are looking when it’s cold and snowy are much more likely to be very serious buyers on a deadline, so don’t rule out an “off-season” listing. As an added benefit, it’s often less disruptive if you’re still living in the property since there are fewer showings. This past week I wrote two offers, one of which was competing against two OTHER offers, all within eight days. In winter, it’s more important than ever to price it to sell! And note to buyers: Don’t assume you have plenty of time, even in the midst of winter, as we found out ;ast week. But you might as well start looking now—if nothing else, it will give you a running start in the spring since you will already be familiar with the market to better “know it when you see it,” and you may get lucky and find a deal.
If you know someone looking to move, please contact us. And if you’re thinking of selling, we’ll be happy to provide you with a free market analysis of your home and review of statistics in your local neighborhood.