Don’t miss out on half of the year the in St. John’s Real Estate Market! There are many advantages to buying and selling real estate in the winter – if you are willing to step out of the seasonal box.
It’s winter. It’s cold. It’s dark. And we have a ton of snow that could last until April… or even May. Newfoundland winters are long. If you wait until the snow goes, you could be missing out on a good portion of this year’s real estate market. No doubt, winter is not what you think about as a prime real estate time to buy or sell a home. In the spring and summer the grass is green, flowers are blooming and your curb appeal is at an all-time high. But there are a lot of advantages to buying and selling in the winter if you are willing to step outside that seasonal box. And literally step outside into the cold.
Here are some of the advantages to buying and selling real estate in the winter:
3 Advantages for Buyers
NUMBER 1: Less Competition. Most sellers want to wait to list until the market is “hot” in the spring – so traditionally there are less homes listed in St. John’s in the winter months. Since there is less inventory on the market, some buyers will decide to delay their home search, this means that active buyers have less competition. You might be able to find the right house for you without having to compete with other buyers.
NUMBER 2: Lower Home Prices. With fewer buyers in the St. John’s market, sellers may be willing to drop their prices to sell. Especially if a seller is forced to sell during winter for reasons out of their control – such as moving for a new job or for financial reasons. This might just work to a winter buyer’s advantage.
NUMBER 3: Motivated Sellers. Not only are sellers more willing to drop the price, but they may be more motivated to negotiate the closing date or terms of sale. You are more likely to get all those appliances thrown in if a seller is motivated and rushed to sell in winter.
3 Advantages for Sellers
NUMBER 1: Less Competition. Winter can work for sellers in St. John’s too! With fewer homes on the market, more people are looking at your listing online. You might get every available buyer walking through your door. And as a bonus, staging your home in the winter to feel cozy and warm can be very appealing to buyers that have fewer options available to them.
NUMBER 2: Motivated Winter Buyers. St. John’s winter buyers are traditionally more serious. There are less people out window shopping and wasting your time. It is better to have more serious buyers look at your house than having a lot of people viewing with no intention of buying.
NUMBER 3: Disposable Income. We usually think of Christmas as an expensive season, but it is also the time of year when people may receive a financial bonus for work. First time home buyers might finally have their down payment and are ready to upgrade their living situation.
is buying or selling in winter right for you?
That really depends on your individual situation and what are your buying, selling or investing goals. But it is important not to rule winter out, at least without considering all of the advantages.
Do you have questions about buying or selling in the winter?
We should talk! Everybody’s situation is a little bit different. If you are looking to buy, sell or invest give me a call, we can take a closer look at your specific needs and discover what will work best for you.
TEXT ME at 709-770-5565 or CLICK HERE to schedule a meeting.