Much like the weather outside, the housing market can be cold and frosty during the winter months. While spring typically sees the biggest burst of activity in the market, Sales Representative and Team Lead Bill Meyer from The Tulip Team at RE/MAX, your Ottawa REALTORS®, say that those thinking about selling shouldn’t necessarily wait till spring. Here’s why.
Buyers Are More Serious This Time of Year
Any buyers in the market this time of year aren’t the type to be lusted by a home’s curb appeal. Instead, they’re calculated, serious shoppers, says Bill. “Typically in December, January, and most of February, the inventory is usually at its lowest. In a market like this, where buyers have been fighting over homes for the last two years, to be on the market right now, you’re dealing with anybody willing to trudge through the snow in the middle of January or February; they’re serious about buying homes.”
Bill offers two advantages here. There are typically fewer houses on the market during winter, making things a lot less competitive than they would be during the spring or summer months. You can bet that the buyers who make an effort to view your home are much more motivated to buy.
Just as the winter wards off any casual shoppers, it’s also a time when there is less competition for buyers. “When people ask me, should I wait till spring? Well, there’ll be a lot more homes on the market in the spring than there are now.”
Buyers Have An Open Canvas To Visualize Their Yard
Winter can actually help buyers to be inspired by your home’s curb appeal. “From a landscaping perspective, most people’s backyards over the winter are a nice, clean white palette. People can imagine their own spring and summertime colours, their own walkways and stonework.
You Can Move In Spring, Which Is Ideal
Selling in the winter does not mean moving in the winter, explains Bill. “You can sell your house at the end of January or middle of February, with an April closing date 30 to 45 days later, so you don’t necessarily have to move in the dead of winter.” Setting a moving date to your convenience is always an option, meaning you don’t have to battle with the snow and cold weather.
“Movers, lawyers, appraisers, mortgage lenders… they’re a little slower at this time of the year, and because of the low demand, the cost of moving could be a little bit better.”
The Tulip Team at RE/MAX is a group of real estate agents, led by Bill Meyer, in Ottawa. Contact Bill today with any questions at www.thetulipteam.com, 613-788-7418.