While many wax lyrical about the benefits of selling your home in the spring and summer months, those taking the plunge as the year draws to a close have much to gain. From less competition on the market to decreased pressure for ‘curb appeal’ and even a greater chance of attaining their asking price (or higher) at sale – sellers who dare to sell in the colder season have more than just cosy fireplaces, hot chocolate and crisp mornings to look forward to this winter.
Read on to discover the biggest advantages of selling your property between December and February.
Less Competition (& Potentially More Interest)
The common trend among sellers is to list their homes in the spring and summer, resulting in a saturated market where buyers hold the upper hand. While this abundance of choices may benefit buyers, sellers run the risk of their properties getting lost in the sea of options.
Conversely, the average amount of properties on the market reduces by 30% in winter. This translates to a less crowded landscape, reducing competition for buyers’ attention and increasing the likelihood that your home will stand out. With a limited pool of options, your property can quickly become a strong contender for many buyers and potentially drive up offers come the Closing Date.
More Likely to Achieve Your Asking Price (or Higher) at Sale
Selling your home in the winter can also significantly boost your chances of reaching (and even exceeding) your asking price. In these colder months, the limited number of homes available creates a surge in demand. This, combined with a well-thought-out pricing strategy, heightens the probability of achieving the figure you want, especially when contrasted with the hustle and bustle of activity in the market’s peak months.
Real estate experts often observe that buyers tend to be more open to negotiating prices when there’s a surplus of choices on the market. On the other hand, buyers are less likely to haggle in a market where options are scarce for fear they may miss out on a property they love. So, selling in the winter not only taps into reduced competition but also aligns with a buyer mindset that’s more focused and ready to commit.
Buyers Who Mean Business
Less available properties in the winter can also work to your advantage in other ways, particularly in filtering out buyers who mean business. The dip in available properties tends to draw more genuinely interested parties, as individuals searching during the off-peak season often have a heightened urgency to secure their next home.
Consider this: if a potential buyer is willing to brave the harsh Scottish weather to view your home, it strongly indicates their sincere interest in purchasing. Despite the likely dip in house viewings owing to less favourable weather, those who do show up are often highly motivated, ready to make decisive moves, and can be expected to submit competitive offers.
The ‘New Year New Me’ Effect
January isn’t just about resolutions; it’s the time when people take action. Whether that’s taking on an exciting new career opportunity in a different city, partnering up with their new beau or finally taking the plunge on last year’s dream to move somewhere new, there are always plenty of ‘New Year, New Me’ winter movers just waiting to snap up your property.
Capitalising on Cosy
Selling your home in winter isn’t just a savvy move – it can also highlight your property’s unique charm. From the comforting glow of a crackling fire to the warm feeling that only festive decorations can bring, the unpredictable, harsh winter weather is the perfect opportunity to make your home an inviting respite from the cold.
Moreover, the shorter days of winter can be a lifesaver for homes not blessed with a lot of natural light. Where the warmer months may inadvertently highlight a room’s darkness when stepped in from the bright summer sun, winter days will accentuate your property’s cosiness (with a bit of strategic set dressing, that is).
The Green Factor
Selling your home in colder weather is also a golden opportunity to showcase its energy efficiency, a critical factor in today’s market. Now more than ever, buyers are keenly aware of the impact on energy bills, and with an updated Energy Performance Certificate (EPC) being a must-have for every property, winter becomes the perfect season to highlight these credentials.
Data published by Halifax revealed that homes with favourable EPC ratings could fetch up to £40,000 more on average than their less sustainable counterparts. This resonates with the rising trend of eco-conscious buyers willing to pay a ‘green premium.’ To make the most of this, ensure your property is energy-efficient before listing it, then equip your estate agent with all the details of the measures you’ve taken to turn your home into a symbol of sustainability and cost-effectiveness in the market.
Thinking of Selling Your Property?
If you’re thinking of selling your property, our team of experts is here to help you get the best possible price in the quickest possible time. With decades of experience under our belt, we’ve seen all possible market conditions over the years and are perfectly placed to help you navigate the current property landscape. Get in touch today!
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Thinking of Buying?
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