Fall and winter are traditionally the off-seasons for selling a home. But this doesn’t mean that you should skip marketing during these times. Rather, you should prepare your home for a slower real estate market. Consider these 7 Tips for Selling Your Home in the Off-Season:
Fall and winter are traditionally the real estate market’s off-season
The real estate market typically slows down during fall and winter, but the historically low interest rate is keeping things going. Because the rate is so low, more people are buying homes. During this time, the average 30-year conventional fixed rate will be 2.83% compared to 4.83% last November. Adding to that, many people are working from home during this time, so they need extra space. Purchasing a home during this time can also help them to be more comfortable staying at home while working.
The weather in each region can have a positive or negative impact on the housing market. Many areas of the country experience cooler winters and milder summers. This leads to fewer buyers competing for a home. Home values can also fall during the colder winter months, especially in the Midwest. While this is not always the case, a lack of inventory can make a difference. Home values can dip, but they tend to rebound quickly in spring.
Spring and early summer are the best times to sell a home
While many people think of spring and early summer as the perfect times to sell a home, there are some downsides to each season. Spring is a time when temperatures are comfortable and many buyers are eager to move before the summer rush. The warmer weather and longer days also enhance curb appeal. Buying during this time also offers buyers the opportunity to close a deal faster, which means that your home will sell quicker.
The spring is a good time to sell a home, because tax refunds come in late winter or early spring. This means that the funds available for repairs and renovations are much higher during this time. In addition, you may have a better chance of selling your home for more money if you list your house during this time. And you may be able to get multiple offers when the spring market is in full swing. However, spring and early summer are not always the best times to sell a home off-season, and it is largely dependent on the region.
Home showing availability is important during a slower market
When the market slows down, fewer buyers are looking at your home. The summer and fall are busy seasons for home buyers who want to get settled before school starts, so they often put off their searches until later in the year. By the time October rolls around, the competition is high, and sellers can find themselves desperate to sell before the school year starts. As a result, your home may sit on the market for more time than it otherwise would.
When it comes to home showing availability, summer months and early fall are the best times to sell. Summer months bring warmer weather and longer days, which attract buyers who are looking to purchase a home. Homes with a fall-to-winter color scheme will usually attract potential buyers who aren’t looking to move until after school begins. However, it’s not the best time to sell your home in the off-season.
Appealing to the sense of smell can attract buyers
When staging your home for sale, appeal to your buyers’ sense of smell. Use a welcoming scent, such as fresh-baked cookies, to appeal to their sense of smell. You can also leave some holiday treats on the counter, as well as a candle that smells of gingerbread. This will make your home smell inviting to buyers, while also allowing them to enjoy a treat while they’re visiting.
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