There is a widely held belief that winter and the month of December, specifically, isn’t an ideal time to list your home on the real estate market. Statistically, fewer homes sell in the winter months than in the spring and summer months. Before you write off the end of the year as a no-go for a home sale, consider these four truths that could end up working in your favor when it comes to listing and successfully selling your home.
Extra Attention from Your Real Estate Professional:
While the market is typically slower during the final months of the year, one thing is certain: your real estate professionals are working just as tirelessly now as they do in any other season. With fewer homes on the market, fewer transactions, and less frenzy, most real estate professionals have extra time to devote to you and your home selling needs. Instead of becoming one of many clients who may get lost in the shuffle, you just might be their primary concern. Having their undivided attention and laser focus could make for a very intense selling strategy.
Less Seller Competition and Inventory:
You know you have a great house and you love it dearly, but when it’s one of many listed on the Multiple Listing Service (MLS), it might not stand out to potential buyers like it could when inventory is lower. It’s hard to time the market, but this winter has been an ideal sellers’ market. Homes aren’t staying on the market long and listing yours during December might just be the right opportunity to have prime focus and interest.
Tax Benefits:
Closing a real estate transaction at the end of the year can have great tax benefits. If you itemize your income taxes, then real estate taxes and mortgage interest paid at closing could work on your behalf. And if you can’t quite get the deal sealed before the end of this calendar year, you can always look forward to benefitting from these same financial gains in the upcoming tax year.
Quicker Closing:
Much like having more of your real estate agent’s undivided attention, mortgage lenders, closing agents, and other agencies involved in finalizing a real estate transaction may also have a clearer schedule. Being able to expedite the closing process, especially during the holiday season could contribute to the possibility of those tax benefits mentioned above. Additionally, if you are a military family PCSing, it can be a relief to have financial closure (literally) as you leave one duty station and prepare to secure housing at the next.
A Final Word:
While these considerations do make a case for listing and selling a home in the winter, keep in mind that there are no guarantees. There’s a reason why December home sales are low and slow.
Many homes have reduced curb appeal, many homeowners who may have had their homes on the market for a prolonged period of time may feel weary in keeping their homes show-ready during the hectic holiday season, and as a homeowner you may want to reduce the footprint of people coming inside your home during the winter months where sickness is more prevalent.
Whether you decide to list your home in the winter or wait until spring, there are benefits and drawbacks to consider. By consulting with a trained real estate professional, you can arm yourself with insight and guidance to make the best decision for your family.
