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Why the fall and winter are great times to buy or sell your home
There’s a rumor going around that the spring and summer are the best time to buy a new home or sell your home. While there is certainly some truth to this statement, don’t accept it as a reason to hibernate through the fall and winter when you could be making a move.
In the spring, buyers emerge after a long winter, ready to make a change. They start looking around, not in a particular hurry because they expect the market to be flooded with new listings. Because homeowners assume this is the best season for selling a home, there will indeed be more listings than in the colder months.
However, a Redfin study of 19 major housing markets showed that homes that listed in the winter fetched a higher price and sold more quickly than in any other season.
For sellers, there is less competition in the fall and winter, so your home gets more attention. These particular buyers are often more motivated. They’ve been relocated or experienced another significant life change (divorce, growing family, adult family member moving in) that creates more urgency. They have a tighter timeframe in mind.
Spring and summer buyers show up at open houses in larger numbers, but they’re more like casual browsers. They’re taking their time, looking for just the right home. Maybe these homebuyers are timing their purchase around the school year, so as not to disrupt their children’s schedule. So, while you might like the heavy traffic during the warm weather seasons, those numbers don’t necessarily translate to more or higher offers. The prospective homebuyers who come through your home in the winter are far more likely to make an offer.
Homebuilders say that fall and winter are also a good time for people to buy a new home. Some communities have quick move-in homes that are either completed or almost finished. With the majority of the construction already done, the weather won’t prevent the builder from a timely completion.
Even if your new home hasn’t begun yet, there’s plenty that can be done in the fall and winter to move the process along. Rain is a bigger deterrent than snow or cold weather, so if you’re thinking about buying a new home, don’t put your plans on hold till spring.
Epcon Communities provide high quality, low-maintenance living in 19 states, with building occurring year ‘round. Find a community in your area and plan a visit to explore the neighborhood and talk to an on-site sales consultant.