A common misconception in the real estate world is that it’s a bad idea to list a property this time of year. This belief encourages sellers to wait until the peak season to list their home. However, studies have been conducted that conclusively prove that homes listed in the off-season sell faster and at a higher price than homes listed during the peak season. If you’re on the fence about listing your home during the off-season, here are five compelling reasons why it’s a good idea to sell now.
1. Competition is Less
When you list your home in the off-season, there are going to be fewer homes for sale. This means more buyers looking at your home, so demand will be much higher than the supply. This is good news for you. Low inventory means buyers have fewer options and will be readily available to look at your home and make an offer. When there aren’t as many homes, there’s less room for negotiating and buyers will have fewer demands.
2. Curb Appeal is Easier to Maintain
Curb appeal is a major factor in selling a home. If your home doesn’t look good on the outside, buyers will simply move on to the next home. Listing your home in the warmer months of the year will ensure you need to keep up with extensive yard work and landscaping. However, listing during the cooler months means you won’t have to mow, cut shrubs and maintain landscaping. You’ll be able to focus on getting your home sold without the added stress of maintaining the landscaping.
3. Command a Higher Selling Price
One of the biggest benefits of listing your home during the off-season is that buyers are going to be willing to spend more money. Because there’s less inventory, buyers who are motivated to buy right now will come close to your asking price. During the peak season, buyers have a little more flexibility when it comes to making an offer. If their offer isn’t accepted, there are plenty of other homes and sellers willing to negotiate a lower price. If you list now, buyers do not have this flexibility and are more likely to offer a higher price for your home than they would if you listed during the peak season.
4. Receive Increased Attention
When you list your home during the off-peak months, you will receive more attention from your real estate agent. They are not going to be as busy as they are during the spring and summer months. They will have more time to focus on you and your home. You can take advantage of this individualized attention to get tips on how to best showcase your home to prospective buyers. Depending on the age of your home, it is likely that there are small repairs that need to be made. The contractors you will need to make such repairs are likely less busy than during the warm months. This is an excellent time to make those repairs and you may also be able to negotiate a lower price for the work performed.
5. Take Advantage Life Events
Not everyone can wait until summer to start looking for and purchasing a new home. If you live in an area where there is a strong business presence, there may be employees who have been relocated by their company to your area. This often happens in the first quarter of the year. If your home is listed for sale during this time, then you have the upper hand over other sellers who are waiting until peak season to list their homes. Many employees also receive year-end bonuses and such a bonus may give them enough money to use as a down payment on a home. Buyers who want to buy as soon as they have the ability may not want to wait until summer. You can guarantee your home will be one of the first they see if it is listed during the off-season.
Deciding to sell your home is a big step that requires careful consideration and planning. If you are ready to make your move, don’t be discouraged because you think it’s not the right time to list your sale. As you can see, there are many advantages to listing your home for sale now. Listing your home during this time will likely reward you more so than waiting to list. So go ahead and take the plunge and get that home on the market.