There is a common perception that selling a home in January translates to lowball offers, less interest from buyers, and months spent on the market. While the spring is still real estate’s busy season, it’s time to take a clear-eyed look at why selling in January can make a lot of sense for some homeowners.
If selling your home tops your list of New Year’s resolutions, you don’t want to miss an optimal window to sell in your market or procrastinate when you could be free of this house and into your new one before spring even hits.
Myth #1: No one buys a home in the winter.
The only difference between selling in January and June is there are fewer buyers in January. Homebuyers who are in the market in January are often more motivated for a variety of reasons:
The buyers who book a tour in January are likely going to be more motivated once they set foot on a property. Nobody’s getting their kids out of the car, putting on their boots, trekking through a foot of snow just to kick the tires. They are serious buyers.
Bonus: Student condos and new semester timelines:
The cost of college room and board has increased significantly in the past 20 years, and many number-crunching parents have decided that buying a condo or apartment for their child will save them money in the long run. If parents want their children off campus and into their school condos by the spring semester, they’ll be in a rush to buy in January before students head back to school.
Myth #2: I can’t create great curb appeal when it’s dreary out.
Just because you can’t see a manicured lawn or mulched garden beds doesn’t mean you can’t create a great impression before buyers make it to the door. Here’s what expert agents recommend in the winter to welcome buyers to their new home.
Create a clear path:
According to our research around winter home sales, 29% of top real estate agents believe that clearing your driveway and walkway prior to showings is the most important way to keep your house safe and inviting for visitors.
Welcome visitors with a wreath:
A wreath on the front door can be a warming pop of color on a winter white landscape. For less than $50, you can buy a wreath for your front door. If a wreath feels too holiday for you, opt for a non-seasonal material, like eucalyptus or grapevines.
Add outdoor lights for evening showings:
If buyers come to view your home after work, it could already be nightfall, making it hard for anyone who’s never been to your house before to identify it from the street. Invite visitors braving the cold with some well-placed outdoor lighting. Solar lighting, such as walkway, fence caps, or uplighting, can be installed on your own, without a visit from the electrician. Make sure your lighting illuminates your house numbers as well so your home is easy to find.
Make outdoor seating colorful and cozy:
Amping up the cozy factor is among the top three most important steps toward selling a house in winter. Throw a warm outdoor blanket and a few outdoor waterproof pillows over covered benches or rockers. This will add color and create a homey atmosphere that makes buyers want to linger.
Myth #3: Real estate trends show that spring is always a better time to sell.
Depending on where you live, January might actually be your best time to sell. The biggest misconception is ‘I’m going to wait because the market’s going to be better, to sell my home in a nicer time.’ That’s not always the case. While you have fewer people looking, they’re much more likely to make an offer and try to buy a house.
Perpetually low supply and booming buyer interest:
In certain competitive markets, buyer interest will be booming, no matter the inclement weather. Population has been steadily rising for over the past 3 years in Calgary and area. You may only get two showings in a month, but they’re going to be two really HIGH quality buyers that we’re going to have a real good chance of going under contract. It may take us 10 showings in the nicer weather time to find a buyer for you.
Myth #4: Fewer showings mean less interest.
Important to note – that while you can sell a home in January, buyer interest will slow in the winter! ShowingTime’s Showing Index tracks the number of buyer showings across the country in any given month, and its January 2022 index demonstrates while there are indeed fewer showings in January, interest in home buying has made even the coldest months a viable time to sell. But the good news is, the buyers who make it past the threshold are motivated.
Myth #5: If I sell in January, I’ll take a price hit.
You can apply the law of supply and demand to listing inventory in the January housing market. Across the board, inventory tends to be nearly 10% lower in January than in May. With fewer for-sale signs out, your home can capture the attention of buyers. Even if your market has fewer buyers looking for a home in January, you’ll be able to capture their attention quicker because they simply have fewer homes to choose from.
In fact, in 2021 and 2022, January saw some of the highest levels of home sales, and January sales continue to increase year over year. When buyers have limited choices and need to buy NOW, they’ll put a premium on the convenience of purchasing a home during a quieter time.
Myth #6: We just wrapped the holidays — I couldn’t possibly list in time.
Getting a house on the market in January – is harder than actually selling it! The one thing you can’t convince sellers of – is that they want to move in the winter. I think a lot of it is thinking, ‘I don’t want to move when it’s -21 and in a whole bunch of snow.’
But regardless of the weather – or your holiday obligations, you can get your home ready to sell quickly in record time. I promise!!!!
Use time off to declutter quickly:
Depending on how much stuff you’ve accumulated in your home, decluttering can take a decent chunk of time. Luckily, the holiday season provides many of us with extended time off, which can be the perfect way to tackle junk before listing your home.
To declutter fast, start first with the bathroom, where lots of items accumulate quickly. Conquering this small space first can feel like a win. From there, kick it up a notch by tackling closets and drawers. Once you’re on a roll, it’s time to take on the kitchen, where both kitchen gadgets and long-forgotten papers need to be organized or put away so that your countertops are clear.
Find an agent who doesn’t take the holidays off!
Working with a good agent(s) can also cut through the stress of listing right after a busy holiday season. There are a lot of agents who don’t want to work in the winter, so they might leave for two months during it. Karen has testimonials from clients who will confirm – that she listed their home on New Years Eve day – and negotiated multiple offers well into that same evening!
Schedule a professional deep clean:
If a thorough cleaning of your home sounds impossible after an exhausting holiday, consider working with professionals to help lighten the load. Deep cleaning your home can add up to $2,000 in resale values, well worth the $200-$400 that most professional services will charge!
Save a bundle of money on professional packing and moving:
About 70% of people move between June-September, making winter the most affordable time to move since demand is at its lowest. Winter moves will cost on average 15% less than a peak-season move. In addition to cheaper moving costs, you’ll also likely have flexibility on timing, since most movers won’t be booked back-to-back.
Listing your home in January can mean getting a head start on those New Year’s resolutions. If you’re ready for a change and want to move now, you don’t have to sacrifice anything by selling when everyone else is still snoozing from the holidays. While the market might look a little different than it does in the bustling summer months, you’ll be surprised by the quality of the offers!!!
We listed a home this year on Friday Dec 22 and had multiple offers within 24 hrs. BUYERS do not take a break when they are looking for what they NEED! And we don’t either…….
Happy New Year everyone!