The Ultimate Reasons Winter is a Great Time to Sell Your Home
Sure. We get it. Winter is typically the time you want to snuggle in and enjoy time with friends and family. If selling your house is on your mind, you may have listened to friends who told you to wait until spring when the market is hot. But did you know that research has shown October thru February to be some of the best months to list and sell your home? We’ll talk about some general reasons in a minute, but first, let’s look at the Waco area and McLennan County market in particular.
INVENTORY The Waco area residential market is hungry for homes. The inventory of homes available for sale is incredibly low; this means Sellers have opportunities NOW to sell their home quickly for their asking price (or even above.) In the spring, more people will put their house up for sale, and that means you enter a market where there is more competition for each buyer.
STRONG MARKET As stated above, with a strong market, sellers have a better opportunity to get the price they want. Hey, it is nice to have someone fight over you, right? And with the right Realtor, you can have offers coming in before you know it. Now, no one can guarantee your house will sell quickly for more than you ask, but in a strong market, the odds are in your favor.
ECONOMY The Waco economy remains stable and growing. Because we are on the I-35 corridor, new businesses look to Waco as the ideal place to develop and expand. With the upcoming Amazon distribution center, and the establishment of more entertainment venues, a strong downtown community, and the development of boutique-style areas all over town, Waco is a place people look to buy and remain. Central Texas draws people from around the country, because of our climate and culture. And the Magnolia effect continues to create interest in Waco. And all of this means people need a place to live. Whether transferring with a job, a desire to be centrally located but outside of the crush of metropolitan areas like Dallas, Houston, or Austin, up-sizing (or downsizing), there is likely a potential buyer waiting for a home like yours.
Now, on to the general reasons selling your home in winter is a good idea.
INTEREST RATES Interest rates for homebuyers are still exceptionally low. As of this article, rates for buyers with good credit hover between 2.25% and 2.75%. This means buyers can get more bang for their buck when deciding on home price. It is an enticing time for buyers to consider making the leap now, instead of waiting for a change in the market.
TAX BREAKS Home buyers can capitalize on important tax breaks when they purchase and close before the end of the year. And if you are in the market for a new home, this can be a perfect time for you to capture those tax benefits, too!
SERIOUS BUYERS Anyone looking to buy right now is probably more serious than people who get new home fever in the spring. Whether they are fighting against a deadline (like a lease ending or a contract on their home), or they are moving with their job, winter buyers do not want to mess around. January is a big month for job relocations, so buyers are looking now!
HOLIDAY HOURS This time of year, buyers often have a bit more time off. This means they have more time to surf the internet for homes. In the spring, buyers are more likely to use time off for outdoor events and entertainments.
QUICKER CLOSINGS Because there are fewer sellers, the closing process can move rather quickly. Rather than waiting in a long line for inspections, surveys, closing document preparations and more, the work can be completely more quickly.
With these factors working in the Seller’s favor, now may be the ideal time for you to put your house on the market. Call the Kelly, Realtors office today and schedule a time to talk with one of our award-winning professional Realtors. The possibilities available might just amaze you!