It’s True – Winter is a hot time to sell your house!
In a recent study conducted by Redfin, a national real estate brokerage, shows “conventional wisdom” predicting spring as the best time to list a home is correct, but just barely. While Spring offered the highest likelihood of selling above list price and of selling within 30 days, Winter, the supposed real estate slow season, was a very close second.
They (Redfin) studied more than 7 million home sales over the past four years and divided the data into seasons based on when the homes were first listed. They focused on which season was “best” for listing a home according to two of the most common goals for sellers: Selling for more than the list price and going under contract within 30 days.
- Spring (#1) with 18.7% of homes selling for above asking price | Winter (#2) with 17.5% of homes going for above asking price.
- Spring saw 48.0% of homes listed selling within 30 days | Winter was just 1.8% lower with 46.2% of homes selling within 30 days.
The “astronomical calendar” was used to divide the dates of Winter as: Dec. 21 – Mar. 20 | and Spring as: Mar. 21 – June 20.
You might be asking yourself “why?” Well, it appears that because Winter isn’t anyone’s favorite time to move, it isn’t a bad time to sell a house. Buyers shopping in Winter often need to move. They’re less likely to make a lowball offer, because they’ll often want to close quickly, depending on their circumstances.
Selling in Winter has another advantage over selling in the Spring – less inventory! A home can really stand out amid a smaller inventory, rather than among the influx of houses that flood the market in the Spring. So, motivated buyers with a smaller selection translates into a fantastic home selling opportunity!
Are you or someone you know thinking of buying or selling a home? Give the Watts Realty Team a call at (269)488-1530, we’ll be happy to help answer any of your questions!