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23 Comments on Winter is the Best Time to Sell?
I just did this for my area (Ocean County, NJ) and I found that the exact same thing! Now the question is, 'why didn't I write a blog about it?. Good post!
Hi Tina and Sylvia,
I would interpret the stats differently.
In December there are few homes for sale, and few buyers. Both are working against the odds of what is comfortable, or typical. For a seller to be selling in December, their motivation has to be very high - so it needs to be priced aggressively. For a buyer to be out in the bitter cold and snow, rain and sleet - means that they must be a very motivated buyer.
If you match highly motivated sellers with highly motivated buyers, you get a higher percentage of houses available to houses sold.
Thanks for the post. It is interesting.
PHil
EVERYONE lists their house in the spring, and very few sellers list in the winter. Thus, you have more competition in the spring. List it when you are the only one around!!
Sylvia - very interesting look at the statistics. It makes me want to go back and look at mine... I have found for a number of years that July and August are VERY slow in our makret and things pick back up again in mid September, with October being a relatively busy month. This spring was also VERY slow in our marketplace, more so than in past years. Now I want to compare numbers to see how much my feeling is on target with numbers...
Our area sees high sales/closes during the summer months - when homes have gone under contract in the spring. You have a very interesting statistic for your area and something you can use to get sellers to list at off times and possibly sell faster.
Hi Tina: It's so interesting how statistics can mean so many things. The timing of the sellers house and buyers dream coming together is a combination of so many dynamics that is it virtually impossible to predict (even follow) "trends". Each listing & each sale is it's own animal.
Thanks for sharing. Definitely thought provoking!
The most serious buyers are usually out in the cold rain, during the holidays. I think that is a great time to buy.
I've got to wonder what the statistics look like, both recently and historically for some of the the hot climate areas of the country and places like Phoenix or Florida where there are quite a few retirement communities.
Interesting way to look at the stats - and a great new perspective to show potential clients.
It depends on the area. Sales slow down during Winter in our area. We get lots of snow during Winter.
I just had to comment b/c one of my best friends is from Halifax--and that caught my eye! Also I think mortgage rules are different in Canada--a buyer needs much more of a dp, and no 30 yr mortgages? Or maybe I'm confusing that with another country.
I agree with Howard and Susan - pricing would be interesting. I'd also like to see new inventory trends as well. With less inventory it may look like more overall is selling since less is coming on. Good analysis though.
The part I wonder about is do you tend to get less of your listing price on a house listed in the winter as one listed in the summer just because people dont want to have to heat two houses?? I mean this is what the low ballers think. I am asking this of course in reference to a house that is listed at a appropriate price not a overpriced one.
Hi, These are interesting statistics. Makes you kind of think about reworking some of the advice we give. I will have to run something similar here. Thanks.
In the winter there is less competition & the buyers who are looking tend to be serious buyers. As others have said, pricing probably comes into play too.
There may be less competition in winter, but it's much harder to show homes in NE Pennsylvania in the winter.
Good post. I am always the busiest Jan1 -May 1st then it slows down. This year it started in December. I always thought it was just NYC because Wall street bonuses are given out Christmas/New Years. Our Spring selling season is really winter. Open houses are always packed in the winter (Jan/Feb/March) All the snow and blizzards don't deter buyers here. I think people buy in the winter so they can close and be in their new home by Spring/Summer. In my experience August is the slowest month followed by July when buyers go on vacation.
I think it depends on where you live. Showing homes in the northeaste during winter time is tough. Spring is the best season to sell here in seacoast NH.
Patricia Aulson/ Seacoast NH :^ ME
Interesting stats, now I'll have to take a look at some of the towns in our area as well.
Thank you all for stopping by and adding your valuable experience and input. I agree, winter buyers and sellers are likely to be more motived and one never knows if the spring market will be as motivated. I'm going to look into pricing as well to see if the list/sold prices are different. Great point, now I'm wondering if a seller can get a higher ratio listing in the summer verses the winter months.