Worry-Free Winter Listing: 5 Reasons to Sell in the Cold Season
While winter is not the first season we think of when it comes to selling a home, the reality is that in many cases buying and selling real estate simply cannot wait for spring blooms. However, what many don’t know is that listing in the winter months can be advantageous for sellers, especially in the market we are seeing today. If you are trying to hold off on selling your home until the frost and snow begin to evaporate, you may want to reconsider. Once listings begin to saturate the market come spring, selling can become more of a chore. Here are 5 reasons why getting ahead of the game and selling your home this winter can be an optimal move for you and your family.
Interest Rates Expected to Rise
Selling now is an excellent time, as the Bank of Canada has already signaled that interest rates will be increasing towards mid-2022. Buyers have been eager to take advantage of lower interest rates throughout the better part of the COVID-19 lifespan. Now, as inflation rates hit the highest point occurring in over three decades, an increase in interest rates is a more than likely occurrence. By launching your listing this winter, you can see buyers looking to lock into a rate before significant hikes occur, and if you are planning to buy as well, locking in something now would be advantageous.
Sellers Market Heightened
Come spring, as is normal in real estate, homes will begin to saturate the market and provide more availability for buyers. Listing now can help your sale as winter has less competition, allowing your home to stand out more in a pool of eager buyers. You can also expect to sell quickly, possibly for a higher dollar value, and be afforded flexibility in closing dates. A heightened sellers market allows the seller to make their move with conditions in their favour.
Less to Stage
With a white blanket draping the tree and yard space outside the home, outdoor grooming isn’t as necessary for home staging as it would be in the warmer months, making it easy to prepare your home for sale. Instead of spending a pretty penny on dressing up your gardens and backyard in preparation for sale, the snow can provide a clean, white canvas for buyers to better visualize the colours, stone ways, and outdoor decor to dress up their home for spring and summer curb appeal.
With the extreme cold weather that catches headlines throughout Canadian winters, potential buyers who teeter-totter on the idea of buying a house are more inclined to stay at bay for the season and re-emerge when the snow begins to melt. As a result, December, January, and February generally produce a lower inventory that is met with serious buyers who are willing to brave extreme weather conditions to find the home of their dreams.
A Spring Closing
Selling in the winter months does not necessarily mean moving in the cold and icy weather. Particularly in a market that is more advantageous for sellers, you may be able to hold off your closing date until the spring thaw, allowing you to make your move in more seasonally desirable conditions. Planning ahead of time and finding buyers looking for an agreeable closing time frame can allow you to beat the late spring and summer moving rush and thoroughly enjoy the hot summer weather while it lasts.
As outlined above, there are many advantages to moving in the winter months. Not only does a winter listing allow you to get ahead of the rush and settle into your new home with ease, but in the current state of the real estate market, it may even provide an opportunity to generate more off the sale of your home in less time, and with more favourable conditions.
For help buying and selling real estate, reach out to us and our TEAM of knowledgeable, experienced agents and support staff today.
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