Explore the advantages of selling real estate during the Winter season
Article by Connor Tait
4 min read
Contrary to a common misconception in the real estate industry, selling during winter is often advantageous rather than disadvantageous. This holds particularly true this year, and I'll elaborate on why.
Selling during the winter season offers vendors two distinct advantages.
Firstly, Winter often sees a limited inventory of homes for sale due to the prevailing myth. As a result, the supply of available properties becomes tighter, leading to increased competition among buyers in the market.
Buyers seeking a new home do not cease their search due to cold weather. Therefore, the demand remains consistent throughout Winter, further intensifying the competition for the available homes.
Secondly, if your plan is to purchase a new home after selling your current one, selling in Winter sets you up to buy in Spring, a season known for a higher volume of homes being listed for sale.
These two advantages are annual occurrences, but in 2023, the advantage of supply and demand is amplified. The current market cycle has already depleted the housing stock, making buyer competition even fiercer during Winter this year.
In fact a three year average for the winter months June, July and August in Wangaratta typically see only 28 houses listed compared to September (33) October (37) and November (42). Almost half the amount of properties available and competing with many buyers still actively looking during the cooler months. Based on Pricefinder Data*
Stock is especially low because of where we are in the market cycle. But it may not last long.
Despite sellers currently delaying listing their properties, Pricefinder data predicts a buildup of pent-up supply since September 2022.
Consequently, if Winter yields the anticipated strong results, the upcoming Spring season might experience a surge in activity. This influx of sellers who have been hesitating since the previous year could potentially alter the supply and demand balance in the market at a rapid pace
So, I see a great opportunity for sellers to do very well this Winter in areas with particularly tight supply.
If you’re thinking of selling this Winter, Click this link: Sell during Winter or give our agency Tait Real Estate a call on 0493 674 245 to talk about current supply and demand dynamics in your area to see if this season presents a particularly timely opportunity for you.
Here are some helpful suggestions to enhance the appeal of your home during the Winter selling season:
- Enhance natural light flow by ensuring clean windows.
- Create a cosy ambiance in darker areas by using candles and lamps.
- Prioritise heating your home in advance of open houses or auctions.
- Maintain clear gutters and pathways for efficient rainwater drainage.