Convential wisdom says to wait until spring – the housing industry’s unofficial selling season — to list your home. Recently, however, industry experts have begun to turn this idea on its head, with many agreeing there are a number of reasons to list sooner rather than later. In fact, recent data from online brokerage website RedFin suggests winter might actually be one of the best times of year to sell your home.
But why? Take a closer look at these top reasons to list during the “off season”:
24/7 Market: Today’s buyer is always looking for new inventory, and there is no shortage of opportunities to find the latest homes. From interactive apps to text alerts and emails, listings can now reach buyers around the clock at an unprecented rate. So, no matter when you decide to list your home, you can be certain a captive audience will be waiting.
Engaged Buyers: The new year has a way of re-energizing previously active homebuyers and motivating new buyers to take the plunge. Many reasons account for the burst of activity, but most of it derives from people who have been waiting for the holidays to end. This time of year, people also take stock in their incomes, find out about work bonuses and start contemplating whether they want to spend another year paying rent. Whatever the reason may be, one thing is for sure: Realtors recognize the phenomenon and so should sellers. If you list earlier in the year, you’ll capture an entire population of engaged homebuyers ready to make a move (including Arizona’s many winter visitors who are in town and may be considering setting down roots).
Less Competition: Waiting for spring will increase the chances that other homes similar to yours will hit the market, changing the supply-and-demand balance and possibly driving down the price of your home. Instead, you may be better off listing your home in winter when there is less competition. If you’re worried about your home showing better adorned with spring flowers, keep a few photos from the warmer months on hand so buyers can easily envision the home in spring and summer.