Most people tend to think that winter and real estate are like oil and water. Sellers feel it’s not the best time to list, while buyers can assume there is a lack of inventory. Both parties usually end up waiting for spring, when the market tends to ramp up and competition begins to flood the market. Real estate opportunities during the winter might seem slim, but the truth is there might be a lot more than one might think, for buyers and sellers alike. The Real estate market is always active, even during the winter..
From A Seller Perspective:
Sellers might think waiting for spring will bring stronger competition and increase the chances of selling. On the contrary, those who plan on selling during the winter months might find it easier due to less competition. Decreased supply equals increased demand, which could make it easier to sell a home. The market might not be saturated with buyers at this time, but those who are interested tend to bring more serious offers to the table. Serious buyers often have stronger motivation and stronger motivation can lead to strong and timely offers. Fewer houses being sold in the neighbourhood just might make yours stand out.
From A Buyers perspective:
Buyers may stray from the market for similar reasons. Winter usually presents lower inventory in the market, but that doesn’t mean there isn’t any. Even sellers motivated to sell might provide a chance for buyers to find a deal on a property. Not to mention, winter tends to bring the harshest weather conditions. This provides an opportunity to see how comfortable the home is and whether or not investments into better heating systems may need to be made. With less buyers on the market, properties can become easier to acquire and the chances of being outbid by another buyer drops. Mortgage brokers tend to be busier when there’s stronger competition in the market. This gives buyers a chance to secure a mortgage faster. For those looking for the perfect home, this time of year might be the best opportunity.
Selling or buying during the winter might not always be ideal, but this could be the best time for others to list or purchase. Sometimes the best opportunities present themselves when they’re least expected. Regardless, if you’re thinking of moving it’s always important to keep a close eye on the market throughout the year. Things can ramp up at any point. It’s also important for people to work with a qualified Realtor and decide the timeline that is best for them and their families. The seasons won’t always dictate where the market might fall, but if you’re on top of it, you’ll find an opportunity around every corner.
– Santino Randazzo