Even though the weather is colder and the hustle and bustle of the holiday season is ramping up, there are still people who are interested in buying — and selling — their homes during the winter.
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If you’re one of those people and you’re wondering what to expect, here are four predictions for the housing market this winter, according to experts.
What Homebuyers Can Expect This Winter
Here are some predictions from real estate experts for those looking to buy a home soon.
Less Competition Among Buyers
“Winter is typically considered the off-peak season in real estate,” said real estate expert and general contractor Chris Hock of Earth Saving Solutions. “However, this doesn’t mean opportunities are scarce; it could present some unique advantages for buyers.”
Hock said that there might be less competition among buyers this winter. “Many people prefer house hunting in the warmer months so that you may have fewer bidding wars,” he said. “However, the flip-side is that there may be fewer houses on the market to pick from.”
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More Room for Negotiation
Hock added, “Secondly, sellers who list their properties during winter are often motivated to sell quickly. This urgency could lead to more negotiable prices and terms. Buyers may find more room for negotiation during this period.”
What Home Sellers Can Expect This Winter
Here’s what you should expect if you’re planning to sell your home during the winter months.
Less Competition Among Sellers
“For sellers,” Hock said, “the winter market can be a double-edged sword.” Hock shared that while there might be fewer buyers, those who are looking for a home are often serious about purchasing.
“Fewer listings during winter mean less competition, which could work to a seller’s advantage. If your home is well-maintained and appropriately priced, it might stand out more quickly in the smaller winter market. I plan to list one in Arvada, Colorado, the first week of January; I’m focusing on ensuring the house is solid with a clean, quick remodel that only has a few inspection items for the buyers to worry about.”
Pressure To Price Properties To Sell
Hock pointed out that selling in the winter can also bring challenges. “Buyers tend to be more selective, and properties can be more challenging to showcase due to weather conditions and shorter days,” he said. “Therefore, it’s essential to price it accordingly. In the last house we sold in October, I fixed every one of the inspection items that the buyers asked for.”
