In a market where timing can dramatically impact the amount of time spent looking for a buyer as well as the price you’re ultimately able to get, many people are led to believe that winter is the absolute worse time to sell your home in New York. However, this common misconception couldn’t be further from the truth.
Take Advantage of the Opportunity to Sell High and Buy Low
If you’re set on purchasing a home in the spring, selling in the winter gives you the chance to be a non-contingent buyer when you’re ready to make a purchase. As a buyer, the warmer months bring you a greater number of options but also an increase in the competition. Selling in the winter sets you up as a competitive buyer because you won’t be saddled with a house sale contingency by the time you’re looking to buy in the spring.
Beyond that, reduced inventory in the winter months often sees homes selling at slightly higher prices. Less options for buyers leaves them feeling less likely to try to negotiate the price down.
Capture the Relocating Buyer
The first quarter of the new year brings a spike in people looking to move as employees are transferred to new areas. These individuals are eager to make offers and they’re often looking to move quickly.
Less Competition Makes Your Home Seem More Desirable
During the winter months, there are simply not enough homes for sale to satisfy the number of buyers in the market and waiting until the spring can have you seeing more time spent on the market and less money for your home. Sales are generally completed, on average, 10-15 days faster in the winter than they are in the spring.
Buyers Are More Serious in the Winter Months
Serious buyers that are ready, willing, and able to purchase can be found in the winter market. The demand for a home remains consistent throughout the winter months, especially with a decrease in the already low inventory. With mortgage rates tending to rise in the spring, New York buyers have an incentive to buy now.
You Have More Control Over Scheduling
The colder season brings a level of flexibility in terms of scheduling. With an abundant amount of time off for the holidays, buyers are able to focus on finding a new home. If you do sell your home during the holiday season, you don’t necessarily have to worry about moving until early spring. You can always negotiate a longer closing period or extended use and occupancy.
The winter months offer some unique opportunities that can be incredibly advantageous to anyone looking to sell their home. Besides, buying a new home is a great way to stay out of the snow!