Many homeowners believe the spring market is the best time to sell a home, especially in Michigan. While there are advantages to selling in the spring and it can be an appropriate time to sell, you shouldn’t rule out listing your home in the winter.
You may have specific reasons for choosing what time of year to list, but if you have some flexibility, you should consider listing your home in the winter. In Michigan especially, around Thanksgiving and mid-December when it turns cold, many home buyers put off looking for a home due to holidays, traveling and family commitments. The result is that sellers also choose not to list their home since they feel that buyers aren’t looking. The reality is that the buyers that are out there braving the cold and writing offers are typically more serious and motivated to make a purchase. These are the folks that have job transfers, like to make a purchase before year end for tax purposes, or get the kids moved while on break. What this means for sellers is that in addition to the low inventory, with the proper agent and marketing you can often get a higher price by listing your home in the winter.
Consider these statistics for Livingston County home sales in 2017
- Listing Date: Jan 1- Feb 28 2017
- Average Sale Price: $268,284
- Number of sales: 423
- Listing Date: March 1- April 30 2017
- Average Sale Price: $187,309
- Number of sales: 623
*Data source: REALCOMP MLS
Homes that were listed in the winter months ended up selling for an average of over 43% more than homes that were listed in the spring months.
Considering the number of sales for the homes listed in the spring versus winter increased by over 47%, you can see how it would affect the sale prices. With far less competition in the winter months you can get ahead of the game and take advantage of the low inventory.
One final thought to keep in mind is just because you might list in the winter you must still have an agent that will properly price and market the home. That is true any time of year, but especially in the winter months. Because the number of buyers is lower than the spring months, you need an agent that has an aggressive approach to marketing that can reach the most people possible.
So don’t always follow what everyone else is doing. The numbers don’t lie and usually homeowners want to get the most money possible for their investment. It may mean dealing with the winter showings and shoveling the sidewalks a few times but when you get the check at closing you’ll be happy!
Contact Wesley & Co. to find out exactly what a proactive marketing plan looks like and if listing your home in the winter is right for you.