Winter Home Sellers More Likely to Find Serious Buyers
When it comes to the best season for home sales, winter home sellers are more likely to find serious buyers. Most people commonly believe spring is the most ideal season for home sales. As a result, sellers often wait until spring arrives to consider listing their home for sale.
Home sales during summer and fall lead to a reduction in market inventory. Sellers who wait for spring to place their home on the market further reduce the number of homes for sale in the winter months. As a result, winter home sellers gain a clear advantage. Less homes on the market allows their home to have greater visibility among serious buyers.
5 Specific Advantages for Winter Home Sellers
Beyond less competition from other homes, there are 5 specific advantages for winter home sellers:
1. Buyers in winter are serious buyers
Many people enjoy winter for its snow-filled beauty and wide range of outdoor sports such as ice skating, skiing, and sledding. However the season is also known for several major holidays, unpredictable and sometimes caution-producing weather, travel, and year-end work commitments. Only serious buyers would be looking for a home during this season. Buyers who make an appointment to see your home are not window shopping for homes as spring buyers often do. Rather, they are specifically interested in your home and its amenities. Winter home sellers can be assured that buyers truly want to purchase in the near term. Many times these serious buyers are relocating to take a new job or transferring to a new location with their current company.
2. Days on the market are less of a concern to serious buyers
Some home buyers use the number of days a home is on the market as an indicator. This indicator could mean any of several things, such as:
- Condition of the home and property is not comparable
- Location of the home is not desirable
- Pricing compared to other homes on the market is not consistent
- Seller does not have motivation to sell or is hard to work with
However, days on market is less concerning to serious buyers in winter. For example, winter home sellers whose home has been on the market since fall may benefit from buyer’s interest in working with sellers who are fully intending to sell.
3. Realistic decisions on pricing are easier to make during winter
Winter home sellers have an advantage when listing their home. Comparable homes on the market since the summer and fall seasons provide an excellent guide for realistic pricing. These home sellers often have adjusted their pricing to be consistent with or slightly below recent sales. This in turn will help them attract the right buyers looking for homes like theirs. Realistic pricing decisions for winter home sellers are easy to make by reviewing comparable homes.
4. Sellers who need to buy face less competition as they search for their new home
While buyers are searching for homes, winter home sellers gain from having less inventory for their home to compete with. At the same time, if those sellers need to buy a home, they also benefit from having less buyers to compete with. Sellers who must also buy have an advantage since winter holds down excess competition from other buyers. If they are the only ones looking at a specific home, chances are good that their offer will be taken seriously.
5. Spring season is just around the corner, just in case more buyers are needed
Some winter home sellers may not sell their home before spring arrives. The arrival of spring usually brings many more buyers into the market, including more families with children who want to plan moves during the summer. More buyers coming into the market means there will be more views of the home listing and perhaps more visits to the home. Winter home sellers may be seen as especially motivated to sell. As a result, homes should be freshened for the new season, and pricing should be reviewed to determine if it is still comparable or if adjustments must be made.
What Should Winter Home Sellers do?
Winter home sellers should consider placing their home on the market. Those who are able to do so benefit from serious buyers, less competition, and the ability to have their home ready to sell early in spring if they have not yet sold. Something to keep in mind is that a few markets exhibit stronger buying patterns during the winter season. Scottsdale, Arizona winter home sellers often experience the best home sale outcome by listing their home for sale in January.
Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients and their transferees with real estate needs when it comes to relocation. We can help your company understand how to obtain the best advantage for home sales and purchases, whether selling a home during winter as part of a relocation by leveraging the GMS Buyer Value Option (BVO) program, or buying from winter home sellers in a new location.
GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
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Learn best practices for winter home sellers from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.