Many people believe that the winter housing market is the worst — there are typically fewer homes on the market, and fewer buyers, to boot. The winter weather seems a likely culprit for these conditions since people might be less inclined to go looking for houses, especially if there’s snow on the ground. But these conditions can work in favour of the seller.
1. Fewer choices for the buyer make your property more desirable. If a prospective home buyer really wants to buy some real estate in Calgary, AB, but there are only a handful of houses for them to choose from, it increases the odds of successfully selling your home.
2. You don’t need to do the yard work to add curb appeal. During the spring and summer months, buyers are looking for beautifully landscaped properties, which requires a tremendous amount of upkeep, especially if you own a larger property. Since most of your plants will be dormant in the winter — or possibly even covered by snow — there’s virtually no yard work required.
3. Buyers are more committed in the winter months. While there may be fewer potential buyers out there, the ones who are looking to buy a home are more likely to say “yes” after a tour of your property. The first quarter of the new year is also a time when employers might transfer or hire new employees in the area, so those individuals will want to find a home quickly.
4. You can list your property at a higher price. Surprisingly, studies have shown that homes tend to sell at slightly higher than average prices in the winter. This is again likely because of reduced inventory. In the spring, when the market is flooded with competition, the buyer will have more leverage to haggle down the price. Plus, mortgage rates tend to rise in the spring, giving winter buyers the added motivation to act now.
5. Your property will sell faster. Although it hasn’t been proven, this is again likely because of the limited housing inventory during the winter. People might also be more inclined to “impulse buy” simply because they are tired of driving around in the cold and walking through all that leftover snow slush.
Of course, with Mike Baylis and his team of real estate professionals in Calgary, AB, any time is a perfect time to sell your home. We take all the stress out of the selling experience.
Give Mike a call today at 587-897-6453 and find out why so many customers trust him for all of their real estate needs.