Positives of the Winter Real Estate Market
is brought to you by Hingham real estate agent Alice Pierce.
Many believe that winter is too challenging a time to buy or sell a house. However logical this might seem, it is a myth.
The holidays are over and wintertime will give way to spring in the blink of an eye. Meantime, many people are hitting the ski slopes, taking time to read, nap or catch up on binge watching. The ambience of the winter season at first appears to fly in the face of efforts to either list your home for sale, or to trudge out looking for a new home to buy. In fact, there are still plenty of homeowners and home buyers that cease all real estate activity to allow the winter months to pass. If you are in this group, you are missing out.
Data About Winter Home Sales
The numbers for real estate sales in Massachusetts show us that plenty of people are out there looking to buy homes. Babies are born, families grow, job promotions happen, relocations occur, and other life-changing events happen, all with no regard for the season or the weather. There are people who need to buy a home right now, in Massachusetts, on the South Shore of Boston, and in Hingham, just as there are homeowners needing to sell a home at this very moment. The winter is no opponent for today’s real estate market.
Consider the numbers taken from 2015 and published by the National Association of Realtors. The number of homes for sale in December of 2015 was the lowest since the year 2005. Regardless of the scarce inventory, sales were up by almost eight percent. This is thought to be the result of having less competition for home sellers and home buyers. Those who are hesitant now and wait until the spring time to list their homes create a home market with less inventory. A less crowded housing market with fewer homes to compete with can only be a good thing.
Some numbers shows that houses sell more quickly in the winter, overall. Of course this is not always the case, but some people think that low inventory coupled with winter weather might inspire all of us to be a tad more efficient when it comes to negotiating the home sale.
Winter Home Buyers
We can make some assumptions about those looking for homes to buy during the winter. They are likely to be motivated, determined and in need of a home purchase because of outside forces. Whether it is family growth, career change or something like an inheritance or the purchase of another home, winter home buyers mean business.
Relocation because of a career change is not dependent on the weather or the season. The person in the relocation situation must find a house in time to begin their new position in a new location. Companies are keen on relocating employees during the first fiscal quarter of the year and this creates a winter wave of people in need of home purchases.
Another assumption is that people out there house hunting in colder climates are probably ready to buy. Because the winter requires more time and effort to go out looking at houses, there are naturally fewer window shoppers.
As a winter home buyer, you may feel there are fewer options due to the inventory, but consider that you might have more leverage. In the same manner that life events happen for you, the home buyer, like job changes etc, they happen for someone listing their home. Home sellers also get relocated, inherit properties, or suddenly need a different space. So, being a buyer when there’s less competition and more homeowners motivated to sell because of a pressing event is an ideal place to be when negotiating.
Winter Home Sellers
If you’re ready to get your house on the market but are concerned about it being January, there is no need to hesitate because there are serious buyers out there. Many of the same things that motivate winter time home buyers, motivate those who list for the home for sale.
It is not only the buyers that have the winter time advantage. As a home seller, you can take advantage of the current inventory by preparing your home for showings in just a few simple ways to make your house stand out. Take the chance that winter offers to create a positive experience for buyers against the contrast of the seasonal features.
• Make sure the interior is well-lighted to contrast with darkness and cold outside. Brighten up everything for a welcoming experience.
• Leave your heat on 68 degrees and don’t let those floors and walls get chilled. Being cold is very distracting. Yu want the buyers to focus on the beauty and comfort of your home, not the fact that they are cold.
• Invest in professional staging. Making your home feel lived in and cozy in ways you may not be able to see is a powerful tool for creating the emotional response that will compel a buyer to pick your property over others.
• Get out some photographs of your home exterior when your plants and trees are in full bloom. Leave an open album on the dining room table showing off your gardens, landscaping and lawn. This can help the potential buyer extend their already positive impression into the warmer months.
Expect fewer showings but look at the bright side of this; less people bringing in less snow, fewer open houses perhaps, and the potential home buyers that do look at your home are likely to be more ready to buy.
Remember these things about the winter real estate market:
Less inventory equals more attention.
Relocations are happening now.
No daily landscaping work.
It’s a new year and the days are getting longer. By the end of the month we will have gained over one extra hour of daylight so why not start looking for your next home in and around Hingham MA. One of the best Realtors on the South Shore, Alice Pierce, is the ideal person to show you around Hingham, Cohasset, Scituate, Hull and all of the South Shore towns. Not only is Alice Pierce a Hingham resident, but she has lived here all of her life and raised her family here.
Feel free to contact Coldwell Banker Realtor Alice Pierce through her website, email, telephone 781-724-7622 or by filling out this form to learn about articles, real estate services and community information for Hingham, MA, Cohasset, MA, Hull, MA, Norwell, MA and any other South Shore towns.