Selling homes in the winter
It’s cold. It’s snowing. It’s windy. It’s miserable. This house will never sell until the sun comes back out.
Not so, says Redfin who affirms what those of us in Texas know – homes listed in the winter statistically sell the best. Real estate brokerage Redfin.com recently set out to determine when is the best time to buy or sell and ended up proving their own theories wrong, claiming that waiting for the spring selling season is potentially a mistake for home sellers.
Spring listings sell a bit faster, but winter has 20 percent fewer listings added than the spring. Redfin reports winter listings were more likely to sell (59.2 percent) than summer listings (53.1 percent) and that homes listed in the winter sell closest to their original price with only a 2.7 percent average drop from the final price in winter versus a 5.2 percent drop in the summer.
The company says “Keep in mind that we’re measuring correlation here, not causation. Listing in the winter won’t guarantee that your home sells faster, for more money, or that it will sell at all. That said, the data does seem to indicate that winter gets a bad rap for no good reason.”
Real estate statistics – infographic
Click to enlarge.
