Here we are, emerging from a sub-zero winter and ready to witness the Gallatin Valley spring back to life. Not only were the bears and non-skiers hibernating throughout the winter, but at times, it felt like the real estate market was in hibernation as well. It’s true that the market does slow down in the winter months, but shopping for a home in the slower season can have it’s advantages as well.
(Graph showing number of homes sold from January 2018-March 2019)
Here are 3 buyer advantages of winter house hunting.
Less competition means lower chances of getting caught in a buyer battle. It means that not as many listings will end up with multiple offers to compete with, and your odds of closing on the home that you want for a lower price are higher than they would be during peak season.
- Motivated Sellers:
Property generally shows the best in the spring and summer. Most sellers understand this, and if they are working with a realtor, have most likely had a conversation about it. A property up for sale in the winter can be an indication that the seller is highly motivated to get their property sold and may be more open to more negotiations that favor the buyer.
- Homes Close Faster:
Because the market does slow down, appraisers, inspectors, and construction workers tend to be less busy, and more available to get the job done quickly. This allows you to speed up the closing process, and get into your new home in no time.