Should You Consider Selling This Winter?

Mainline360 Real Estate Podcast with David Wyher

Many people think the winter is the worst time to sell a home. We beg to differ, here’s why.

Selling your home? Get a complimentary home valuation.

Buying a home? Search the complete MLS.

Winter is a great time to list your home. Don’t believe me? Consider the following statistics:

• Homes listed in the winter are 9% more likely to sell than homes listed during other seasons.
• They sell a week faster.
• They also sell for 1.2% more relative to list price.

If you find these statistics surprising, you're not alone. Conventional wisdom says to wait for spring to sell.

Yes, it's true there are fewer buyers in the winter, but that’s not actually a problem when you think about it. For one thing, many home buyers in the winter might be new to Philadelphia and need to settle quickly due to first quarter job relocations.

Others might be looking to take advantage of lower mortgage rates, which have historically gone up in the spring. Still others have simply been searching for their dream home for months without success.

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Don’t let the winter stop you from reaching your goals.

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Whatever their reason, the buyers who are searching in winter are much more serious and eager to buy. So, if you've been thinking of listing your home, don't let the winter stop you.

However, do keep in mind that selling your home in the winter is a totally different ballgame than during other seasons. For one, you should price your home closer to market value if you’re listing in winter. You simply won’t get much of a chance to drop the price if it’s too high, due to the lower number of buyers who will come for a showing.

You can start by getting an idea of what your home is worth based on recent Philadelphia sales. You’ll also have to prepare your home differently to make it attractive to buyers in spite of the darker, colder days.

If you’re considering selling your home, give me a call or send me an email. I'll share a few tips to help you sell your home for a cool 5% to 10% more. Best wishes for a wonderful holiday season!