Every winter, I hear the same sentiment from many of my clients; “I thought the market slows down in the winter so it would be a good time to keep my home off the market.” Many sellers want to wait until spring or summer to put their house up for sale. However, If you’re planning to move, now is actually a good time. Between low inventory and eager buyers coming off the 2021 market, it’s truly the perfect time to sell your home.
Here are 5 reasons why now is a great time to sell your home.
The start of the new year and colder temperatures always lead to a cooling real estate market. For example, in Denver, there are only about one-third as many homes for sale in winter as in spring or summer. Many sellers take time off over the holidays or simply think moving during the winter would be too much work. However, according to Zillow’s latest report, while inventory is trending down, the growth in home values continues to trend up. A mass of eager buyers combined with low inventory gives winter sellers better control over their home sales. Moving companies are also offering great deals for those looking to move during the off-season.
Summer 2021 was one of the most competitive markets I’ve seen in years. U.S. homes spent an average of 31 days on market in 2021—the lowest median selling period in more than 15 years! Due to the competitive market, many buyers walked away from 2021 without their dream homes. These buyers are still on the hunt and are waiting for new homes to enter the market. You very well may end up in a bidding war if you consider selling.
New Year New Buyers
A new year is a time of change for many individuals across the country. From new jobs, company relocations, moving closer to family, or even just personal changes, many are looking for a change of scenery. Many of these buyers can’t start new jobs or opportunities until they have a home base and are eager to make a quick sale. These buyers are anxious to find a home and often present high cash offers!
According to Zillow’s latest market report, the seasonal housing cooldown may end early this year. The usually slow winter housing market is set to be saturated with sellers before the snow has even melted! If you’re even considering selling, get ahead of the competition and take advantage of the low inventory and eager buyers that are waiting for new listings.
Increasing Mortgage Rates
Mortgage rates have been consistently low over the past few years. However, they recently saw a slight increase. While this increase is still slight and has no indication of halting the 2022 housing market, rising rates can still give some buyers pause. Get ahead of rising rates and place your home on the market this winter!
Thinking about selling? Contact me today for a FREE market analysis for the value of your home or to learn about the current market and the selling process. I’d love to help!