Steven GrossmanNew Jersey And New York Mortgage Officer NMLS#: 36571
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There’s a common misconception that the real estate market in New Jersey slows to a complete stop in the wintertime. While it may feel counterintuitive, the colder months are actually a great time to sell your home!
Less Competition Makes Your Home Seem More Desirable
The vast majority of the country does not have enough homes for sale to satisfy the number of buyers in the market during the winter. Waiting until the spring can have you seeing more time spent on the market and potentially less money for your home.
The Opportunity to Sell High and Buy Low
If you want to buy a home in the spring, selling now gives you the chance to be a non-contingent buyer when you’re ready to make a purchase. While you may have to find some short-term accomodations, this sets you up as a competitive buyer because you won’t be saddled with a house sale contingency.
Reduced inventory in the winter months often sees homes selling at higher prices. The market is often flooded with competition in the spring which gives buyers the leverage to negotiate on the price.
Buyers Are More Serious in the Winter Months
It is statistically shown that buyer demand remains strong throughout the winter in the vast majority of the country. Buyers that are ready, willing, and able to purchase are in the winter market. Many areas of the country will see buyers competing for the same home. Beyond that, mortgage rates tend to rise in the spring which gives buyers the incentive to act now.
You’ll Capture the Relocating Buyer
The first quarter of the new year is when employers are most likely to either transfer current employees or hire new ones into the area. These individuals are eager to make offers and they’re often looking to move quickly.
You Have More Control Over Scheduling
Many buyers have less demanding schedules during the holiday season and beyond. This can allow you to have some flexibility when it comes to scheduling. Even if you sell your home during the holiday season, you may not have to worry about moving until early spring. You can always negotiate a longer closing period or extended use and occupancy.
All in all, the winter months offer some unique opportunities that can be incredibly advantageous to anyone looking to sell their home. Besides, buying a new home is a great way to stay out of the snow!