Is Winter the Right Time to Sell Your Home?

Everyone knows that winter is the worst time to try selling a home, right? The prevailing consensus is that spring and summer are the best seasons to sell a home. This makes sense since it is usually easier to move in the spring or summer, especially if you live somewhere that gets snowy in the summer months. Additionally, with most schools on summer break, parents find it much easier to transition during summer.

But the reality is that there is no ideal time to sell a particular home, and getting the most advantageous deal often depends on a number of factors. In many instances, selling during the winter can work to the sellers' benefit. There are several reasons why winter may be a great time to list your home.

1. Less inventory: Since the general consensus steers most sellers away from listing in the winter and instead wait for the spring, buyers have fewer options for those wanting or needing to purchase a home in the winter months. These buyers exist no matter when you list your home, but if you put it on the market in the winter when there are far fewer options, your home will get far more attention than it might get in the spring or summer when everyone else lists their home. In many instances, this can result in a fast sale.
2. More relocations: Many companies opt to have employees relocate at the start of a new year for cleaner accounting. This timeline forces the employees to look for and purchase a new home in the winter months. Relocations create demand during a time when supply (homes for sale) is limited, which means you can rely on a fair amount of interest even though many people wait for spring or summer if they have a choice.
3. Greater attention: Since the real estate market is generally busiest during the spring and summer, agents and mortgage brokers are also busiest during this time. When you list in the winter, you can often rely on having greater attention from both entities since they usually work with fewer clients during this time of year.
4. Higher listing price: While this may surprise many, statistics have shown that homes sell at a slightly higher price during the winter, usually owing to less inventory available. So, if you are firm on your asking price, you may have a better shot at getting serious offers during the winter.
5. A quicker sale: With less inventory and general demand levels, homes often sell much quicker in winter months, even in colder areas. While this is often due to multiple factors, it can be partially attributed to buyers wanting to get through the process quickly, meaning they are more likely to move fast when they find a home they like. Real estate agents and mortgage brokers generally have less work during this time, so they can focus on your sale and help it without delay.
6. Minimal effort: Many homeowners put in new landscaping before selling their homes as a way to boost curb appeal. This process generally isn't an option during the winter – especially in snowy areas. And this means you can save money and time by avoiding these efforts. Rather, you can focus on staging the inside of the home so that it is inviting and warm, which can increase the property's attractiveness to potential buyers.
7. Time to show it: Many people have time off throughout the holiday season, which can make it easier to schedule showings of the home. The more showings you have, the more likely you are to sell quickly.

Selling your home in the winter months may be one of the best moves you've ever made, even in Staten Island, where the weather is cold in the winter months. It often just depends on how many other homes are on the market and the anticipated demand within the market at any time.

Deciding when to sell your home can be difficult. There are pros and cons to listing at any time of the year. To discuss your home and the Staten Island real estate market in general, contact Wonica Realtors today. Our experts can help guide you through the process and work toward getting you the most favorable outcome possible.

Wonica Realtors & Appraisers are Staten Island's #1 independent full-service real estate firm, serving the needs of the community for over 30 years. Whether you are buying, selling, renting, or relocating, our staff of highly trained professionals will provide quality realty services with personal attention to your individual real estate needs.