Reasons to Sell in Winter
Traditionally, the spring selling period sees the bulk of sales, but there are plenty of reasons why winter can be a fantastic time to sell a property. Stock levels are usually low, meaning more competition between buyers, who despite the cold weather are still out and about and typically highly motivated.
Active Buyers Year Round
While there may be a thought that it is better to hold off selling until spring when there may be more buyers, in reality, buyers are active year-round. Stock levels fluctuate, not buyers.
Just like vendors opt to sell as their circumstances change, buyers also typically base their decision on their savings and unique circumstances. If they are ready to buy, they won’t let the season hold them back.
It is less about selling at a particular time of year and more about presenting your property to appeal to the maximum level of buyers.
More Serious Buyers
Winter divides the browsers from the buyers. Who would trudge in an out of property inspections on a cold or wet Saturday if they aren’t committed to finding their next home? Winter reduces the amount of time spent dealing with buyers who are just getting a feel for the market or are not yet ready to purchase a property.
Buyers in winter are usually more highly motivated and likely to have all their financial ducks in a row, including being pre-approved for a mortgage, which also increases the chances of you receiving serious offers on the property.
Less Stock and More Competition
In winter there are generally less properties on the market, compared to spring when the market can be flooded with stock giving buyers endless options.
Less stock will mean less choice for buyers, which increases demand and competition for properties. This not only boosts the chances of a sale but also getting the best price possible for your property.
You Might Get a Better Price
If you have priced and presented your home correctly, selling in winter can get you a higher price.
With less properties on the market (less options to choose from), winter buyers can be less likely to negotiate the price down to avoid missing out. When there is more stock on the market, buyers are more likely to have a couple of properties they are interested in potentially leading to lower price negotiations.
Some Houses Show Better
Some homes show better in winter, exuding a cosiness that proves more inviting to buyers than at other times of the year. Fireplaces, or wood combustion stoves help buyers imagine gathering around them on a cold winter night. A hot tub can also be highly appealing at this time of year.
If you have invested in your home’s energy efficiency to reduce winter heating bills, now is a good time to highlight this to buyers so they can see how they could reap the benefits of your investment.
Professional Services are Less Busy
Many professionals involved in property transactions, such as mortgage brokers, conveyancers, removalists, building and pets inspectors, are typically less busy during the months of winter. This makes it easier to get appointments and bookings for a seamless transaction and move.
Some companies may also be more open to negotiating on price to secure business during the quieter season.
More Comfortable Moves and Auctions
Moving houses in the middle of summer or standing at an auction on an unseasonably hot day can make for an unpleasant experience. A winter sale avoids such sweat-drenched events, making for a more comfortable experience for all involved, especially your removalists.
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