Are you thinking of selling your home in the Spring? Why wait? Nationally, existing home sales have increased from November to December an average of 4.5% over the past couple of years. Buyers are still out there buying at a steady or increased pace, even though there are less homes on the market. This is the advantage for winter sellers!
If you’re ready to sell your home, you don’t have to wait. Selling during the holidays doesn’t have to be a challenge.
Surprisingly, there are many advantages to selling your home in the winter.
There Are No Seasons Online
Traditional home buying and selling seasons have evolved as a result of instant internet access to property listings. Everyone knows that Spring is still the hottest home-buying season, but serious home buyers are always on the lookout- checking out the latest listings on their phones before bed or while in the waiting room for an appointment. Buyers today do most of their home browsing online and this is especially true when the weather is dreary and cold. Plus, buyers have more time off to search for homes during the holiday season.
It is even more important in the winter months that you online listing and photos are spectacular. Make sure you use high-resolution photography that shows off your home’s top selling points. Photos of the exterior in all seasons can help, as well as including a video tour and nights shots of the exterior (with the lights shining brightly).
Make sure you work with an experienced listing team to help you make your listing stand out online for home buyers. The more internet and social channels your listing can be exposed to, the better the results. Make sure your real estate team utilizes the latest technology and is up to speed on the latest social media marketing techniques.
Less Competition
When Spring arrives, sellers will flood the market and your home will be just another fish in a great big ocean of listings. But right now, you’ve practically got the market to yourself!
Since 2014, existing home inventory has fallen an average of 15% from November to December. That means 15% less competition on the market if you list your home during the winter. You could sell your house faster because buyers have fewer homes to choose from!
Tax Breaks For The New Year
Winter home buyers may also be motivated to capture the tax benefits of buying a home before year end.
Typical tax-deductible expenses for home buyers:
-Mortgage interest
-Private mortgage insurance (PMI) premiums
-Real estate taxes
Tax benefits could make a potential home buyer more enthusiastic to get a home closed on before the new year.
And if you’re selling your home plus buying another home, these same tax benefits can apply to you!