Really? Data Shows Selling a Home in Winter Pays Off!

 

If you’re waiting until spring to put your home on the market, you’re going to want to take a look at these numbers. Redfin analyzed homes listed from March 22, 2011 through March 21, 2013, and found that those listed in winter have a 9 percentage point greater likelihood of selling, sell a week faster, and sell for 1.2 percentage points more relative to list price than homes listed in any other season. Here’s a breakdown of the key selling metrics we looked at:

 

Table 1: Home Selling Metrics by Listing Season

Season Likelihood of Selling within 6 Months Average Sale-to-List Price Ratio Average Days on Market

Winter
(Dec. 21 – March 21) 65% -2.3% 26
Average of Non-Winter Seasons 56% -3.5% 33

Spring
(March 22 – June 21) 56% -3.5% 32

Summer
(June 22 – Sept. 20) 55% -3.6% 32

Fall
(Sept. 21 – Dec. 20) 57% -3.5% 34

The data contradicts the popular sentiment that selling a home during winter is more difficult because there are fewer people looking to buy. Further, the advantage of selling a home in winter holds true in temperate climates as well as those with harsh winters. In each of the 19 markets analyzed in this report, including Boston and Chicago, home sellers were better off listing their homes in the winter than during any other season.

 

 

http://www.redfin.com/research/reports/2013/why-winter-is-the-hottest-time-to-sell-your-home.html#.VGzpH4eEM2K

Renee Amey Team

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