30 Nov 3 Advantages of the winter real estate market
You may be wondering if it’s a bad idea to list your home for sale in the winter months because the market is slower. But with the delayed spring market pushing buyer demand into the fall, this year has proven different. In 2020, low inventory in many urban markets coupled with low interest rates have demand outpacing supply. As a result, this has created a hot winter market. It’s looking like the colder weather will bring big advantages to both buyers and sellers.
1. Most buyers aren’t just looking
Winter homebuyers tend to be more motivated – especially in light of the ongoing COVID-19 pandemic. Most people who are looking for a house in the midst of winter are on a deadline – they may have been relocated for work, or they’re taking advantage of time off during the holiday season. Chances are, if they come to see your home in the winter (and during a pandemic), they’re serious buyers.
2. More affordable services
Buying or selling a house is no cheap task. No matter what side of a transaction you’re on, you have to pay REALTORS®, home inspectors, lawyers, and moving companies. The good news is, because the winter season is traditionally slower, you’re more likely to find lower fees and better deals. Moving companies, for example, can offer discounts of as much as 30 per cent off their summer prices.
3. A clearer picture
It may seem like a drawback at first, but if you’re looking at a property in the off-season, the landscaping will be barren and natural light muted. However, if you can fall in love with a house at this time, it can only get better. On the flip side, sellers won’t have as much landscaping to keep up with – but you will have to make sure your driveway and walkways are shoveled and salted for ice.
Are you considering buying or selling your home this winter?
We are here to help you navigate every detail safely and efficiently.
Source: Royal LePage The Homeowner – Winter 2021