As we roll through the holidays and into winter, many Charlotte sellers are holding off on listing their home, waiting for the spring "selling season" to put their home on the market. But if you're ready to sell your home now, is waiting until spring the best strategy? The answer is, it depends.
Winter, which is officially Dec. 21st -March 20th, is widely considered a dead time for the real estate market. There is a lot of validity to that thought. But as a CPA, I like to analyze the data and question more than the average realtor. A CPA's favorite answer is "It depends." So lets take a moment and look at the pros of a Winter listing to see if our assumptions of waiting till Spring to sale your home are correct.4 sales statistics for listing homes in the Winter
- Since 2010 studies show homes have a tendency on average to sell higher than asking price from Dec-March vs. June-Nov. For example, data suggests that December 2012 saw the highest above asking price sales of that entire year.
- Research shows February historically is the best month to list, with an average of 66% of homes listed selling within 90 days.
- Less competition amongst sellers in the Winter.
- Many corporations hire and relocate during the first part of the year.
We analyzed the data and Winter comes out on top for sellers, with more homes selling, sales prices closer to original list price.
Winter can be boring in comparison to the other seasons. As people have more time on their hands, shopping for another home can become a priority. And currently more sellers take their homes off the market during winter months and re-list in the Spring. Basic economics principles tell us that less supply will generate a higher price for your home.
Bottom line is that every home is unique and we cannot generalize when is the right time to sell. It is important to seek out a solid realtor adviser to analyze whether it may be beneficial to list now or wait until Spring.