You Ask, We Answer: Should I Sell My Home Now or Wait Until the Spring?
Monday Dec 12th, 2022
Are you considering listing your house or condo for sale? Obviously, the seasons tend to play a crucial role in the business of the real estate market. When the weather is nice, the real estate market usually booms, as buyers spend a lot of time touring open houses and finalizing shortlists. A lot of markets become slow in the winter. However, buyers do not disappear completely.
This article discusses why selling your home in the winter is better than waiting for the real estate market to heat up in the spring.
Interest Rates Are On The Way Up
Firstly, interest rates are currently witnessing an upward trend. Although it is impossible to determine the movements made by the Bank of Canada, it is possible that it will steer upward soon. Mortgage interest rates usually rise along with the Federal Reserve's incline, and thus, selling now involves selling when mortgages are relatively cheaper.
There Is Less Competition In The Market
One more fantastic feature of listing your home for sale during the winter is that other home sellers will not be a competition. As fewer homes are in the local inventory, buyers have fewer options. If your house is clean and in good condition, you will most likely have the edge over others.
Although the number of buyers in winter is fewer, they are usually the ones who are more serious about finding and buying a home.
Holiday Staging Is That Much More Fun
Lastly, it is also important to note that the process of staging your house can be more fun during the holidays. When you sell your home in the summer, you must trim the lawn, ensure that the garden remains clean, and your curb appeal must be maintained. When you sell your home over the holidays, you can decorate it well and make it festive.
Although it may seem counterproductive to try and sell your house in the winter, as the market eases up and there is less inventory, you will encounter more serious, interested buyers. When you are prepared to list your home for sale, get in touch with our friendly real estate sales team, and we will help you optimize the process.