If you need to sell your home in the next month or into the New Year, you might be worried. After all, aren’t spring and summer the ideal seasons to list your home for sale? If you list in December, you might have difficulties attracting buyers and getting the best price for your home. Right?
While it's true that spring and summer are traditionally the busy periods in the real estate market, properties DO sell every month of the year.
So, if you are thinking of selling, you’ll need to know two things:
- What comparable homes are selling for at this time of year
- How long homes are taking on average to sell
Although the market in Ottawa is starting to shift a bit, it is still a Seller’s market. This means that there are more buyers looking for homes like yours than there are people selling their homes. When this is the case, your property will likely sell fairly quickly; you may even receive multiple offers.
But, even if it was a buyer’s market at this moment, that does not mean that your property will not sell. It just means that your home will need to be staged and marketed effectively to attract the right buyers and pique their interest in making an offer.
Some benefits of listing your home in a season that historically has been considered a quieter time in the real estate market are;
- Low inventory means less competition! The market is less saturated, which means your home is more visible to buyers.
- Show your home’s winter readiness, accessibility, and energy efficiency. Especially in a city like ours where the weather can be extreme, being able to show off how well your home fares in the winter months, as well as what upgrades you have done to ensure this, are both huge draws. Bonus showing points if you have a cozy fireplace to show just how cozy your home is to hunker down in during the winter months! Out of the entire year, we spend the most time in our homes in the winter, so having a warm and comforting home that buyers can envision living in is key.
- Serious buyers are out! Winter buyers are usually much more motivated than those purchasing during the busy spring and summer market. Nosey neighbours, home flippers, and open house go-ers are much less likely to don their full winter attire and venture out into the cold to snoop your home.
- Fewer showings. This may sound counterintuitive if you want your home to sell, however, this means that those who choose to do an in-person showing of your home are most likely interested in placing an offer. The showings you are "loosing" are the buyers that are more nosey than serious.
- Corporate relocation happens quite a lot in the first few months of the year, which means that buyers are looking to buy quickly around this time as they usually have a very limited amount of time before they have to have their family relocated and settled.
Regardless of the market, chances are, there are buyers out there looking for a home just like yours. They just need to find out about it, become interested in viewing it, and be wowed when they see it in person!
Luckily for winter buyers and those who are limited in travel due to COVID-19, we always include a full set of professional pictures, a video walkthrough, floor plans, virtual tour, pre-inspection and interractive online Feature Sheet when you list your home with us so that buyers, regardless of the weather, can view your property even if they cannot see it in person.
So, don't be too concerned about what month it is. If you are ready to sell, there is a way to make it happen.
Give me a call if you are thinking about listing your home! I am happy to talk to you about the process and what our team does to ensure your home is ready for its close up!