Is winter a good time?

"Don't worry Sam, with all of this snow we wouldn't even think about selling the house now...would we?"

Cache Valley has had record amounts of snow this year and it's only the end of January. It seems like the kids are home from school way too often because not even the buses are a match for our winter weather. Our driveways have mountains of snow piled on either side and we are left to wonder where we will stack the next big snowfall when it's time to clear the drive.  So of course the thought of selling your home seems like "crazy talk".  But is it?

Over the last four years the greatest influx of the number of homes for sale has been in the 2nd quarter.  So if the trend persists, many people will be gearing up to list their homes in between the months of May and June.  Similarly, the median home price for homes "sold" was regularly highest during the 2nd quarter of those years. What most people may not consider is that for a listing to close during that time, because of the delay in lending, the homes need to be listed around 6 weeks prior to the desired closing date. So it seems logical to try to be a bit ahead of the curve by having your home on the market earlier.  That way the sale can close during the 2nd quarter and you can take advantage of those higher returns.

If you are considering listing your home this year, like most people you will wait until Spring to get the house cleaned up and ready for your agent to list.  But what if you started a couple of months earlier and beat the rush?  This year more than any other, Cache Valley has a shortage of listings; even for the first quarter of the year.  In the last four years the average number of listings during the first quarter has been around 450 homes.  This year we are hovering around 220!  Doesn't it seem rational to get your home out there on that market before your listing has to compete with at least double the number of homes?  Historically homes sell for more money per square foot when there are fewer homes to compete with.  So if you are hoping for a top dollar return on the investment you have made in your home, the earlier you get it on the market the better.  

Are people willing to brave the weather and get out and look at homes that are currently listed?  Honestly, that depends on the situation.  Older people are much less likely to be "out and about" looking at homes during inclement weather. The people who are most likely to get out and see what is available are those who need to move right away because of a job change, and people who are hoping to sell their own home during the "peak" second quarter. So will your home be shown during the first quarter?  Absolutely!  The number of times your home is viewed per week may be affected considering the lower inventory, but it is also possible that it won't need to be shown as many times because people are aware that there is more competition to buy the limited number of available homes .

There are some good things about selling during the winter and obviously some challenging things that go along with that.  For example, during the winter buyers get a good feel for how well the home is insulated and heated but on the other side they can't see all of the beautiful perennials you have planted in your yard.  That is easily overcome by prominently displaying pictures of your yard taken during the summer months.  In this case a picture is absolutely worth a thousand words.  After showings, you may have to deal with some melted snow on your floors but conversely you may well have many fewer showings and be getting more money per square foot for your trouble.

There are many things to consider when getting ready to sell your home and this is just another element.  With all of these things in mind, when someone asks me, "is winter a good time to sell my home?"  My answer is most definitely!  Especially if you have the right agent on your side, winter can be one of the most profitable times to sell your home.  So if you have a home in Cache Valley and you are thinking about selling; give me or one of the great agents of Century 21 Nixon and Nixon a call.  We can help!