Selling your home in January is a good idea due to the chances that only serious buyers are looking and the low inventory tends to mean houses sell quicker in January than in other months.
All eyes are on the housing market this year. The high cost of living, inflation and skyrocketing interest rates may bring bad news. So it may come as some surprise that many experts believe this month is the right time to sell your home.
January is known for its dreary days and cold weather. But it is not known for its hot real estate market. So, why would it make sense to sell your home now?
There are a handful of reasons you may consider selling your home early this year rather than wait for the spring and summer. First is that there are fewer buyers out there. And while that does not sound like good news, it could actually pay off.
The buyers who are looking in January are most likely serious about their search. You won’t get a bunch of “tire kickers” out touring homes without seriously considering making an offer. But that’s not all.
According to The Week, “The typically lower property supply at the start of the year means homes tend to sell slightly quicker too.” On average, homes for sale in January sell up to five days faster. And if you want to sell your home, speed is key.
Additionally, “Two-thirds of economists surveyed by The Times expected house prices to drop by more than 4% this year, ‘making 2023 the worst year for the housing market since 2009”’ said the paper.” So opting to sell your home in January may help put you ahead of that decline. Granted, housing prices have already started to fall, but you may have a chance to miss out on the worst of it.
But the best part is that you stand to make more money when you sell your home in January. Obviously, nothing is a given. Yet, serious buyers with fewer homes to choose from often make an offer closer to the asking price, which is good news for you.
That sounds all well and good. However, real estate agents will drill into your head that curb appeal is everything when you try to sell your home. So how do you go about achieving that in the dead of winter?
Real estate agents and industry experts have tips and tricks to help you achieve the impossible – curb appeal when everything is dead. Start by taking your staging to the extreme. Whether you still live in the space or not, you want to create a space for imagination.
Take time to clean and dust before showings. Arrange throws, blankets, candles, and other “homey” items. Create a warm and inviting space so potential buyers can visualize the possibilities.
And don’t forget the outdoor space. Sure, there is not a ton of yardwork to do in the middle of winter. You can still do small things that create a big impact, though.
A good example is taking time to sweep up any fallen leaves. Or shovel sidewalks to clear them of snow if needed. Also, consider investing in winter hardy plants or flowers to create a beautiful and inviting area.