Why You Should Buy A Home In The Winter
Statistically home sales slow during the winter but, it’s a myth real estate stops all together. Touring homes in the cold and the wind isn’t as appealing as it is when the grass is green and the sun is shining but, as a buyer if you’re willing to brave the winter weather there are benefits to buying in the winter.
Fewer Buyers Equals Less Competition
With sales being slower that ties back to there being fewer buyers in the market which means less competition. Spring can be a feeding frenzy where multiple offers happen regularly and competition is fierce. You won’t be greeted with lush spring grass but, you just might be able to secure a home you love without competing with other buyers to get it.
Selling a home is a lot of work and that’s not just for the listing agent. Selling a home is a team sport, sellers have to keep the home clean, make sure the beds are made, and be ready to leave as soon as a showing request comes in. Add in the holiday season to the equation and it could mean that a seller is more motivated to secure a buyer than they would be when the weather warms up. Negotiations could then also be more favorable for you as a buyer. Now, I’m not saying to submit a low ball offer and see if it sticks. What I am saying is there might be flexibility on the closing date or even a seller subsidy. Far more than there would be if you’re in a bidding war.
Be Mindful of Days on Market
Going back to spring being the popular time for sellers to list their homes for sale that also means more competition from other sellers at that time. There are sellers who make mistakes with pricing their home correctly. This leaves them chasing the market and watching their homes sit as days on the market continue to tick. Buyers can take advantage of these mistakes. A savvy agent will look at a properties pricing history, if it started too high and has finally started to drop that’s a great opportunity for a buyer to take advantage of. High days on market don’t always mean there’s something wrong with the house, incorrect pricing is the most common reason homes sit on the market.
Every market is different and it's always best to consult with a professional to learn what the current market conditions are in your local area. Slow times can vary by location, hire a local expert to guide you through the intricacies of the area you are interested in purchasing a home in regardless of what season it is.