Selling and Buying in the Winter
- There's less competition - Not everyone's willing to look at homes in single-digit temperatures. The months of May, June, July, and August make up 40% of existing-home sales, while January and February account for less then 6%.
- Sellers are motivated-and willing to make a deal - Most likely, sellers listing their home in depts of winter seriously want to sell. That gives buyers the upper hand.
- You can put the house through its paces - In most climates, winter puts stress on the home. That gives you the perfect opportunity to evaluate the property under the worst condtitions possible. A home that might seem perfect during the temperate spring could look wholly different in the winter.
- Hiring movers is usually easier - No one can claim that it's easier to move in the winter. If you've ever done it, you know it's sheer misery to move all of your possessions in inclement weather. But the logistics are simplified when you aren't competing with a hundred other moving households.
- Corporate relocations - You could also encounter buyers who are relocating for a job. One of the biggest months for corporate relocations is January/February, so those buyers, who need to move quickly, are out in full force looking for new homes. Relocations typically have a limited amount of time to uproot their families and, as a result, don't have the luxury of spending a lot of time looking at properties. The kids need to get settled into school, and dealing with selling their old home can add another level of urgency and stress. So It's likely that once they find a home that meets their requirements, these buyers will be ready to sign on the dotted line.
- New parents may be looking to upgrade - There are more birthdays in the month of Septemeber than any other time of the year. Therefore, there's likely to be a crop of growing families looking to buy a larger house.
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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.