Here in Northern Westchester, we’re about just about at year’s end and heading towards the frigid months of Winter. Many think that’s when the real estate market hibernates for winter. The fact is, the real estate market doesn’t take a winter nap.
“…It’s still a Seller’s market out there with very low inventory. So why not put your home or investment property on the market to sell? With such low inventory and high demand, prices tend to rise “The old supply and demand axiom”. So if selling, make your property stand out to captivate your audience?
For Buyers, typically buying in the Winter has often meant better bargains on properties. Well not so much in this current market, as we are still in that “multiple bid” situation where the competition is fierce. Not to worry though. With the right negotiation skills and representation, you can still get what you want at an affordable rate. Don’t wait too long though, as interest rates are rising and you will need to lock-in that great rate now.”
-Houlihan Lawrence 3Q Report-
You may also want to lock-in a great agent, should you be going that route. Typically in the colder months, I am speaking to sellers and potential sellers that want to list in the spring. We are discussing staging techniques that they can do to prepare to list. Twilight photos with the house glowing will be inviting. We will be ready to go when the “spring market” heats up, which is typically in the winter months. Buyers from NYC want to lock in their homes with time to get a mortgage and be all settled in June or July to enjoy the summer months and get their kids ready for school. That means a seller should be on the market in February or March.
Worried that your place doesn’t show well without blooming plants and green shrubbery? Curb appeal may come in the form of safety by cleaning the snow off and making sure no one slips in the driveway/sidewalk. Installing proper lighting helps since the amount of daylight is shorter. Also, while your deciduous trees may be bare, if you have thrown in some evergreens and cold hardy plants, that can add a welcoming touch, especially after a snowstorm. Keep the temperature warm and light a fire for showings so the home feels cozy. At a recent winter showing, a smart seller left out tea cups and tea bags to show incredible hospitality.
To take look at what’s on the market in Northern Westchester, click here.
For real estate in general, the northern hemisphere brings challenges during the winter months, but it also can bring tremendous opportunity. So if a higher selling price, faster sale and more people eager to buy your property is what you want… Don’t Hibernate.