Winter in the South is quite different than winter anywhere else. If you have experienced a Southern winter then you know what I am talking about. It is not just the temperature that makes it cold, it is the freezing wind that makes you feel it in your bones and the rain that turns into ice instead of snow. Who would want to go house hunting in that type of weather? The answer might surprise you! More people than you think house hunt in the winter months! There are many advantages to buying and selling in the winter. We are going to deep dive into the benefits of winter real estate. According to the MLS over 5,000 homes were listed and almost 5,000 homes were sold between November 2020 and February 2021 in Greenville County.
General benefits to buying and selling in the winter:
- Companies usually relocate employees in the first quarter of the year, this means more motivated buyers and sellers looking to move for work.
- Things move quicker in the winter; people are trying to everything done before the end of the year.
- More time off for the holidays means more time for buyers to look at homes! This is a benefit for buyers and sellers. Sellers this means more buyers looking at your home and buyers it means more time to look at all the homes.
Benefits of selling your home in the winter:
- Since COVID, more and more buyers are looking at homes from the safety of their home! The internet does not have seasons! According to NAR (National Association of Realtors) 93% of buyers used the internet during their home search last year.
- Normally only serious buyers are searching for homes in the winter.
- Less homes are listed during the winter months which means more competition from motivated buyers.
Benefits of buying a home in the winter:
- Less competition, less buyers are looking so you have a better chance of getting the home you love.
- Shorter wait time for closing, mortgage brokers are not as busy in the winter which allows closing to happen faster!
- Seeing a home in the spring is always going to be better than seeing a home in the winter but seeing how a home holds up in the winter is just as important!
If you are considering buying or selling a home in the winter, our first and most important tip for buying and selling is always to have a trusted real estate agent by your side! We recommend you browse our agent list and by checking out their bios, you’ll be able to find an agent that suits you.
Tips for selling your home in the winter:
- We know holiday decorations can be important, but we recommend keeping them to a minimum. Buyers want to be able to see their own items in their future home! Simple is better!
- Keep it cozy! If buyers are willing to go out in the cold to see you house, make sure it is warm and inviting.
- Keep a light on outside and inside! It gets dark so fast, keeping lights on helps buyers see the exterior better even if they come after the sun has gone down.
Tips for buying a home in the winter:
- Buyers usually have the upper hand in the winter because sellers are motivated to sell, stick to your budget when negating and things could go in your favor.
- Make sure you ask for receipts of utilities from the winter months so you have an idea of what your bills could amount to.
- Look at the big picture before making a decision, track mortgage rates and prepare for tax changes.