Conventional real estate wisdom has it that, like the weather, the housing market cools off considerably during the winter months. And there is a lot to this: spring and summer are typically the best times to sell your house in most markets. If you are selling a house, you would obviously be concerned with the best time to do it.
You don’t want to wait too long in case the market is a seller’s market and you are not able to sell at your asking price. However, you don’t want to try to sell a house in the summer as this is typically when everyone is on vacation. But the fact remains that many houses sell during the winter. And there are some definite pluses to selling during the winter. So let’s examine 5 advantages of selling your house during the winter in Savannah, GA and Chatham County.
1. Lower Inventory and Less Seller Competition
One of the chief advantages of selling your house during the winter in Savannah, GA and Chatham County is that inventory is typically low, which in turn means that you’ll have far less selling competition.
“Since spring is the most popular home-selling season, the housing market is ultra-crowded with options at that time of year. And if you paid attention during Econ 101, you understand the law of supply and demand. Most sellers still think they need to sell in the spring, but that means there is more competition for buyers’ attention . . . But in the winter, there are fewer homes for sale. That [buyer] competition over low inventory can make winter an ideal time to sell your home.”
With fewer homes on the market during the winter (less inventory), buyers have far fewer options and are more likely to look at your home if you’re selling your house at that time. In addition, “[w]hen there are less homes for sale in your area, it also becomes easier to make your home stand out from the competition.”
2. More-Motivated Buyers
Similarly, homebuyers during the winter are typically more motivated. So when selling your house during the winter in Savannah, GA and Chatham County, you won’t have to deal with mere tire kickers, and you’ll know that almost every potential buyer is a serious buyer. Here’s why . . .
“Rarely do buyers go house hunting during the winter just for fun. After all, it’s cold outside. It’s unlikely that throwing an open house will attract casual buyers and nosy neighbors during the December to March period. While there may be fewer buyers during the winter, you can bet that the buyers who are around are actually more motivated. Perhaps they’re relocating for work purposes, or perhaps they desperately need a larger home. Whatever the reason, winter buyers tend to be more serious.”
3. Good Time to Highlight Energy Efficiency
And, of course, selling your house during the winter in Savannah, GA and Chatham County gives you the perfect opportunity to highlight its energy efficiency.
Every buyer wants to cut down on energy bills, and most people today are environmentally conscious. And that means that your home’s energy-efficient features will be big selling points, especially during the winter when it’s top of the mind for everyone.
“A winterized home that already has desirable energy-efficient features will certainly make a good impression on potential home buyers. Energy-efficient features to highlight include smart thermostats, solar panels, quality window treatments, energy-efficient dual-pane windows, new attic insulation, a newer HVAC system, recently cleaned air ducts and vents, and a tank-less water heater.”
4. Tax Breaks Before Year’s End
Buying a home before the end of the year to get in on the tax breaks is another motivation for home buyers and another good reason for selling your house during the winter. If they purchase before year’s end, homebuyers can write off some of the expenses related to purchasing and owning a home.
Chief among the multiple tax benefits and write-offs that make buyers eager to buy during the winter are . . .
- Mortgage interest
- Private mortgage premiums
- Property taxes
Owing to these tax benefits, winter buyers will be motivated to close before the new year. And if you sell and buy another home before the year’s end, you can enjoy some of the same tax benefits yourself. To discover more about these tax benefits, consult a Savannah, GA and Chatham County agent at 912-756-2448.
5. No Seasons for the Internet
An often-overlooked advantage of selling your house during the winter in Savannah, GA and Chatham County is that the Internet knows no seasons.
The vast majority of home buyers today begin their home search online, and many of those never see a potential home in person till the very last stages of the transaction. So the Internet is your best and most effective marketing tool – and it works the same, never losing its effectiveness, all year round.
In fact, online listings may be more effective during the winter months than in the spring when the housing market is (putatively) the hottest. A lot of buyers who want to avoid winter weather will shift their home search from driving around and in-person to purely online. So even though home buyers may be staying indoors, they’re still shopping online.
Your Savannah, GA and Chatham County Agent Can Help
So, yes, there are some definite advantages to selling your house during the winter. But there are some challenges too, mainly because there are fewer buyers out and about. With an experienced Savannah, GA and Chatham County agent, though, you can cash in on the advantages and overcome the challenges. So if you plan on selling your house during the winter in Savannah, GA and Chatham County, be sure to contact us today at 912-756-2448.