The holiday season may be a busy time for families and Realtors alike, but don’t let that fact fool you. Contrary to popular belief, data hints that winter may be an exceptional time to list a home after all.
According to Redfin’s December 2013 research report homes listed in winter have a 9 percentage point greater likelihood of selling and also sell a week faster than homes listed in any other season.
Redfin analyzed homes listed from March 22, 2011 through March 21, 2012 throughout major metropolitan areas, including San Francisco and San Jose.
The results showed that homes listed during winter in the San Francisco area had a 69% likelihood of selling within six months versus spring’s 59% chance. While these figures may vary as individual markets fluctuate, it’s information worth considering.
So, what makes winter such as overlooked, yet opportune time to sell? Well, many homeowners hold off from selling their properties until the spring, a time historically viewed as “selling season.”
This trend decreases the inventory in the winter, which consequently lessens the competition for those putting their homes on the market. Homebuyers hunting during the holiday season also tend to be highly motivated, serious buyers.
The difference between this winter market and previous markets is that many buyers never got their house in the beginning of the year due to the amazing price increases and shortage of salable houses,” says Empire Realty Realtor, M.J. St. Jean. “So, there are a lot of pent up buyers just sitting there waiting for new inventory. For instance one of my Empire associates had 100 people come through her open house, and in less than a week she had two offers and a pending sale.”
While sellers tend to make conscious decision to list in spring, today’s competitive multiple-offer market has left many eager buyers still searching for properties. This reality creates continued opportunity for homeowners open to transitioning during the winter months.
“If you wait until the spring market, it’s important to remember a lot of other people are thinking the same thing. So, the competition for a seller will be much greater in April than in January,” she says.
Seasoned Realtors encourage homeowners to think through their individual circumstances, and capitalize on the low interest rates and current market conditions. For local residents considering selling, now is an favorable time.
Naturally, deciding whether or not to sell a home can be tricky during any season. Start by seeking insight from a trusted professional with a notable track record in the Danville, Blackhawk, Alamo, and San Ramon area. This basic step sets you up for success, knowing you’re acquiring up-to-date insight from an experienced, reputable Realtor.
For more information on selling during Winter, contact:
M.J. St. Jean