There are a few major misconceptions that home sellers have about the winter market.
As you can see in the charts in the video above, accepted offers in 2015 for single-family homes and condos in Dane County were at their peak in March, April, and May. December shows the fewest number of accepted offers. In the next chart, take a look at the number of accepted offers and closings. Closing occurs about 50 days after the offer is accepted.
Judging just by these charts, you’d probably point to March as the best time to list your house. The number of buyers, listings, and accepted offers starts to peak at this time.
Let’s take a deeper look, though.
Although the number of sales in December is much lower than it is during the earlier months, you would face much less competition by selling in the winter. But who in their right mind wants to buy a house at this time? Daylight savings time is over, the weather is colder, and it’s dark by the time most people get off of work. So who are these buyers?
Serious buyers, that’s who. Having your house on the market in the winter months will mean fewer showings, but it will also mean far more serious buyers.
Additionally, consider that many summer listings will expire around this time and they won’t be re-listed until the spring or early summer. This is good news for you as a seller. And finally, consider that interest rates remain at historically low levels. This means more affordability for buyers, which in turn, means better chances to get your property sold.
I hope this information is helpful to you regardless of your situation. If you have any questions or you’re thinking of selling this winter, give me a call or email me. I’d be happy to help you out.