Home sellers in Millburn and Short Hills (and their real estate agents) often fear the winter months because it seems like a poor time to list. The truth is that winter can be a great time to list your home for sale.
Conventional wisdom tries to say that taking your home off the market in winter, or waiting to list, until the spring selling season starts is the best way to sell your home. The truth is that if you are trying to sell your home, wouldn’t you rather list while the competition is less?
With the end of the summer season, often homes are removed from the market, either because the sellers mistakenly believe they need to wait for the spring. But when listings flood the market in April, prices can go down as a “buyers’ market” takes hold and inventory increases. Given the shifts we are experiencing in Millburn and Short Hills, we are likely to see this impact on price come this Spring.
Buyers in the winter also tend to be more serious about a home purchase. The holidays are a time to relax and enjoy family and friends. In real estate, studies show that if a buyer is out looking for a new home during these months, they have a reason to move, which tend to create better offers.
Home sellers can enhance their ability to capitalize on the slower pace and smaller inventory by listing their homes for sale now. Winter is the perfect time to get the highest possible sales price while the competition is drinking pumpkin- spiced latte and waiting for the spring.
Sometimes the phrase, “Winter is Coming”is a good thing. (Where my GOT fans be at?)