Is winter a good time to sell my home?
Yup, Christmas is literally right around the corner. As soon as Halloween was finished, the retailers wasted no time in removing all their scary stuff only to replace it with blaring Christmas music and festive sales.
I get asked often "is selling my home before Christmas, or right after Christmas a good idea?" or "will I get more for my home if I sell in the spring market?" Historical data shows that in the spring, there are more homes on the market and there are more Buyers which means that it is more likely to get more money for your home. However, it boils down to supply and demand and many Sellers will usually wait to sell closer to Spring leaving the winter months with a lower inventory of homes. After the foreign Buyer tax was implemented May of 2017, many media outlets were calling for a dramatic crash and home prices would drop like a lead weight. It is true that beginning of May it looked pretty grim as inventory went up and sales went down, but many Buyers were sitting on the fence waiting for prices to drop and then strike. June, July and August were the months where Realtors, Sellers and home Buyers were all holding their breath in anticipation for what was to come. Contrary to media speculation, the market didn't drop drastically, but rather carried on at a steady pace. Those who sold early this year and didn't buy, were sitting on the fence patiently waiting to buy low. After months went by, the market picked up steam and the hopes of scoring "a deal" seemed more and more less likely. Out comes the flurry of Buyers once again.
So, here we are. It's November and inventory isn't as high, and there are many Buyers currently looking for a home. It's a Sellers market once again. Stats show that after April there was a dip in sales; prices slightly dropped for a short period of time, but once again has rebounded into a robust market. See image below.
And there is the answer to your question. Is winter a good time to sell my home? Absolutely. My advice, if you are looking to sell, I would recommend listing your home prior to December 17 or after January 2nd as many Buyers put home hunting on hold during the holiday season. Visit my page on getting your home sold and let's get your home listed!!!