Think spring market is the only time to make a move? Think again!
While spring and summer may feel like the optimal times for your suburban search, there are plenty of perks to continuing your search when the temperature drops. Not only are people out and about in many communities, but there are also lots of fun, family-friendly activities happening (hello, holiday cheer!). Get a peek of what future holidays could look like by visiting festive markets, tree lightings, and checking out local shops.
And if you’ve already zeroed in on a suburb? Winter could actually be a great time to buy. Here’s why…
#1. Less Competition
With winter calendars full of holiday events, it’s no surprise that some families decide to wait until the spring to list their homes — but others don’t. And some homes may have been listed in spring or summer, but are still waiting for the perfect buyer (and that could be you).
Given the typically-lower inventory, many potential buyers also hit “pause” on their search — and that could work to your advantage. Find the right house and you’ll likely have fewer offers to compete with.
“We searched all spring and summer and kept getting outbid or priced out,” says one Long Island mom, who moved from Forest Hills in December. “In early winter we spotted a home in the town we’d been looking in for months. It had already been marked down 5% when we saw it — and we wound up getting it for $100,000 under ask and closed within four weeks…days before Christmas.”
#2. Motivated Sellers
If a house has been on the market since spring, the owners are likely going to be very eager to sell. And that might work in your favor. Given their desire to make a move fast, you may be able to negotiate for add-ons, concessions and repairs. It’s not a guarantee, but sometimes owners are a bit more flexible on price and timing if they are still trying to sell a house well into the holiday season.
#3. Even MORE Motivation for New Sellers
As we mentioned, owners are likely extremely motivated to sell a house that’s been on the market for months. But what about new listings? If a seller opts to list their home during the holidays, there’s likely a reason, whether it’s a new job out-of-state or finally closing on their new home. Regardless, these sellers tend to be very motivated, too — so keep an eye out for listings.
#4. Closings Could be Faster
During the busy spring season, it can take weeks to close on your new home — banks, lenders, and everyone else involved in the process is busy and that can delay your next steps. But with fewer homes being sold during the holidays, you may be able to accelerate your closing timeline.
#5. Think Ahead to Spring
Let’s face it — if you’re searching in a cold climate, you may see things at their worst. We’re talking bare yards, no plants and piles of snow — but that’s OK. When winter rolls around, you won’t be surprised. And besides, if things check out during the colder months, just imagine how amazing everything will be once the temperatures start to rise.
Don’t let the colder weather keep you from finding the perfect fit. Get started today! Schedule your FREE Suburbs Strategy Session to learn how we can help.