Why Winter/Early Spring Is a Great Time to Buy or Sell a Home

Winter is in full swing here in the Northeast, and many homeowners and prospective homebuyers think that means the opportunity to buy or sell is off the table for the next few months. 

While participating in the Boston real estate market in winter and early spring has its challenges (snow, mud, freezing temperatures, etc), there are actually a number of benefits to buying or selling a home during this time of year that you may not be aware of.

Reasons to Sell:

1. Fewer Winter Listings Means Less Listing Competition

Unsurprisingly, selling your home in the wintertime means there are fewer listings in the area to compete with. 

The misconception that winter is a terrible time to start selling a home is widespread, meaning that many homeowners avoid it entirely, and miss out on an entire demographic of potential buyers, especially relocations, who are actively looking during this time of year.

2. 25% Of Sales Happen During the Winter

Winter real estate sales are far from impossible! While the numbers are lower than they are in warmer months, winter real estate sales still made up 1 out of 4 of all real estate sales for 2017 in the South Boston neighborhood, which shows transactions are still happening throughout the year given the condo boom we're facing.

That’s because this is the time of year when many buyers start to look, since they’re getting their yearly budgets in order, figuring out taxes, and receiving tax refunds.

3. No Pricing Wars With Others Sellers

Because there’s less listing competition, there’s a significantly lowered chance you’ll end up in a pricing game against a neighbor's home.

When you’ve got two or three other homes similar to yours up for sale in your neighborhood especially at the luxury demographic, it changes the supply and demand, and can potentially lower the value of your home at sale. 

Many sellers don't realize they are essentially competing against their neighbors and by putting your home up for sale now, you could potentially beat similar listings to market.

4. Higher Quality Showings

If you’re selling in the winter, you’ll find that fewer of the prospective buyers who come to see your home are casual lookers.

People looking for a home in winter and early spring likely mean business. A large portion of buyers are not messing around, and won’t be eager to waste your time or their own by looking at a home they’re not interested in buying. 

Not to mention, Boston winters are no joke, and who wants to venture out into the cold to go look at a house they’re only marginally interested in?

Reasons to Buy:

1. Fewer Or No Multiple Offers

Because winter is often touted as a terrible time to buy a home, you’ll find there are fewer people interested in the same homes you are due to a decreased number of buyers in the market. It is still important to know what it takes to win an offer, but the lack of competition means you’re less likely to have to enter a bidding war should you happen upon your dream home in mid-February. 

2. Sellers Are Motivated

Many homeowners selling in the wintertime are doing so for a specific reason. That means they’re ready to hand over their keys, and might be ready to bargain with you especially if their listing agent over hyped them on price to get the listing.

Also, if you’ve made any offer demands, (such as minor repairs or replacing a water heater), they’re much less likely to dilly-dally, and will probably be more eager to accommodate you.

3. Buyer Competition Lower

If you’ve been seeking a home for any length of time or feel buying vs renting makes more sense, you’ve probably been to a crowded open house, or had to deal with a home you really wanted being snatched up by someone with a better offer or quicker offer. 

The beauty of buying a home in the winter is that you don’t have to worry about the buyer market being as crowded. 

That means not only that you won’t be pressured into making hasty decisions, but you’ll have a little more control in the situation than you might otherwise, as far as making an offer.

4. Better Available Moving & Service Providers

The market for moving and service providers is, in part, dependent on the real estate market, for obvious reasons. That means that many of them see a drop in business for the winter.

In order to make up for the decreased demand for their services, many of them will offer discounts and lowered prices. If a major concern for buying a home in winter is that you’re dreading having to move heavy furniture in sub-zero weather, this is something you should look in to. 

Moving services prices along with other services like storage and cleaning are easier to find in the winter and early spring.

Buying a home between December and March will have its ups and downs just like any other time of the year. However, it’s important to look at the whole picture to see if you might actually benefit from the market you’ll find in the winter more than the real estate market in the summer.

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Have any questions? As an owner, is now a right time to sell and take tax free equity off the table? As a buyer, does Southie still make sense for you? For a free consultation or if you have further questions feel free to message me directly.

Schedule a meeting or chat with me here

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Chris Fitzpatrick is a licensed real estate broker in South Boston. Chris prides himself on his knowledge of South Boston nuances, off-market listings and new development projects that are rapidly shaping the neighborhood. He focuses on adding value in the form of creating proprietary real estate market data, predictive analytics, and technology helping sellers, buyers, and developers. Chris can talk your ear off about the benefits of yoga, loves to travel, is passionate about entrepreneurship, and loves rooting for the underdog.