The fall and winter months are generally considered the offseason in real estate. Many sellers mistakenly believe that the colder weather mixed with the hustle and bustle of the holidays will detract buyers from beginning the search for a new home. Most of that rationale is based on outdated data. And if 2020 has taught us anything, it’s that markets will adapt and change! While the market still remains quieter during the fall and winter, savvy sellers know how to use this to their advantage. Besides, here in South Louisiana, the only seasons we really live by are Carnival, Crawfish, Festival, and Football!
Here are four reasons sellers should list right now!
1. The internet has no season.
Serious home buyers are always on the lookout for the latest listings. Whether it’s during Saints game commercial breaks or waiting in the school pick-up line, instant access to new homes on the market has had an impact on the best time to buy—and the numbers don’t lie! A whopping 97% of buyers used the internet in their home search last year and as a result, most often walked through the homes they viewed online. Property photos, detailed listings, and floor plans topped the list of valuable website features for homebuyers in their online search. 35% utilized virtual listing appointments and 38% attended a virtual open house. More than half (51%) of buyers found their next home through their online search. (1)
2. There is less competition.
Springtime typically means an influx of sellers, creating a lot of competition in the market—sometimes just a few houses down! Towards the end of the year, inventory typically declines as sellers take their previously listed homes off the market. Your home will not only receive more attention from buyers, but you may also gain the upper hand in your negotiations. For a little perspective, from October 2020 to January 2021, roughly 360,000 homes dropped off the
market. (2)
3. It’s easier to maintain curb appeal.
The cooler months in New Orleans mean that hurricane season (the fifth season!) is finally over. The extreme heat and humidity are hibernating at least until Fat Tuesday (fingers crossed). For most New Orleanians, that means more time spent outside maintaining cub appeal. And we all know that curb appeal is crucial for selling your home!
4. Buyers mean business.
During the holiday season, it’s easy to get into relaxation mode with large gatherings, company parties, and family traditions. But for someone who is working against a deadline—like an expiring lease, relocation, or new family member n the way—waiting until springtime may not be an option. Last year, 46% of buyers purchased a new home because of life changes. (1) And we all know those changes don’t wait for a season! For these highly motivated buyers, the traditional barriers to winter house-hunting don’t apply. That coupled with more time off means extra time for browsing home apps and scheduling home showings.
A year-end home purchase can also mean tax benefits, motivating a potential home buyer to get a house closed before the new year. These deductions include points, interest, and property taxes.
Are you ready to make your move?
Every client’s circumstances are unique. Whether you need to move quickly or you simply want to take advantage of all benefits this season has to offer, it’s a great time to enter the market.
But don’t give your house away. Call Team Tony today! Give us a call, text, or email to schedule a FREE Listing or Home Valuation consultation… and you could be ringing in the New Year in your new home!