The real estate market is somewhat slower in the winter compared to the busy spring and summer season. However, this year is different. Given the low mortgage rates, there are a lot of buyers out there still searching. Homes for sale in the winter come with multiple benefits, and here are a few of them:
There is less inventory in the winter
Your home and listing have a greater chance to stand out since there fewer listings in general and the variety of choice is more limited than in the spring and summer. Winter homebuyers have fewer listings to pick from and your listing is more likely to be spotted sooner and quicker, especially if you work with a great real estate agent. It is a great advantage for every GTA seller, and oftentimes, with low inventory, your listing can result in bidding on your home.
Winter homebuyers are more serious buyers
Looking for a home in the winter usually means that people need a new home fast. Winter homebuyers are more motivated to find a home, and they are less likely to give up on buying a home and wait for a better time, the next season, etc. Again, this gives you a tremendous advantage as you know you are dealing with serious homebuyers who are “not just looking” but actually looking to buy a home.
Home showings in the winter are a bigger deal
Spring and summer buyers usually schedule home visits one after another before they make their final decision, while in the winter, they commit to fewer home showings. If they come to a home showing during these freezing days, chances are, they liked your home a lot, which increases your odds for closing a successful deal.
Negotiating might be easier
Given the circumstances (a limited choice and highly motivated homebuyers), you are more likely to avoid fierce negotiations about the asking price. Homebuyers, knowing the real estate conditions in the winter, will not be too choosy.
Winter is the perfect time for staging
The cozy winter atmosphere is the best time of the year to stage your home in the coziest way possible. Since it’s the holidays, you can also make use of holiday ornaments. Make sure to include fluffy pillows, cozy blankets and Christmas lights to make your home a welcoming warm winter oasis. If you have a fireplace, include it in the photos while the fire is still burning. If you have a great view, create a cozy corner with a chair and table next to the window. You can also put a book and warm drinks on the table to enhance the ambiance and the overall impression.
Use the jolly season to put your home in the best perspective; just make sure not to overdo it, as moderate and tasteful staging has the biggest effect. Your most prominent selling features should still be taking centre stage and not disappear behind the decorations. And, it goes without saying, keep your home clean and decluttered.
If you want to know more about listing your home in the winter or average asking prices in your GTA area during the winter, give me a call at 647-967-5184 or contact me here.