It's that time of year! Thanksgiving around the corner, the leaves are falling off the trees, snow tires going on the car and real estate sales remain strong. That's right! Real estate sales will remain strong throughout the winter market. Unfortunately, the average home owner misses one of the best times to sell their home - October thru March.
It's funny how people look at me when I tell them Winter is my favorite time to sell homes. They look at me like i grew a third eye on my forehead. However, After a simple explanation, they become pretty open to the idea. And here's why.
This year was one of those years with a low amount of inventory in the real estate market. When I speak of low inventory, I am talking about homes that are priced correctly in the market place. Not over priced inventory! Even with our shortage of inventory there still exist a large segment of the market that is dramatically over priced. So this information is not designed for the home owner who wants to over price their home by 20%.
The winter market almost always has a further decrease in inventory. Many home owners don't want to bother with people walking through their home during the Holidays or during inclement weather. We can see a 10 - 15% decline in homes during this time of year. As far as buyers go, People that are climbing over snow banks and driving in the cold are what we call "motivated". And we love motivated buyers (no tire kickers). In addition, Corporate America doesn't hibernate either during the winter months. In fact, statistics show us that come the first of the year, Corporate America is active with job transfers and relocations.
So in closing, this winter we will have a low inventory of homes accompanied by a pool of motivated buyers, which when combined, generally means an increase in home prices. Hence, my favorite time of the year!!