Warm Up To Home Selling This Winter
This might come as a surprise, but the winter season can be a smart time for listing your home for sale, especially here in the Charlotte area. Thinking about putting your home on the market this upcoming spring? Why wait! Here are a few reasons to warm up to listing your home this winter season.
It’s a Seller’s Market
The greater Charlotte real estate market has been in a seller’s market for well over a year now. Our area is experiencing rapid growth that is outpacing the availability of homes. According to the most recent data from the Charlotte Regional Realtor Association/Canopy MLS, the inventory of homes for sale fell a whopping 51% for the week ending December 26, 2020 compared to the same time the year before (And a 3-month average decrease of 44% compared to Oct-Dec 2019. ). What’s more, the average sales price increased by 14.2% to $349,358 in November 2020 compared to November 2019.
Less inventory and more buyer demand means you can command a higher price for your property.
Homes Sell Quicker Because Buyers are More Serious
Even without our hyperlocal increased buyer demand, it’s a general misconception that no one is looking to move during the colder months. There may be fewer people at showings and open houses, but those willing to brave the cold and wintry elements are probably pretty serious. They are real buyers ready to purchase a home now, without risking losing a home to more competition in the spring.
New Year’s Resolutions Help Many Home Buyers Get Into the House-Hunting Mode
The new year is time for a fresh start. After weeks of holiday festivities including decorating, entertaining, and merriment, people are ready to declutter and get their homes back in order. For some, it’s a time to reevaluate their living space. After hosting out-of-town guests, some homeowners may realize they want more space; others may want to downsize. Many buyers might also be eager to put their tax refunds toward a down payment or closing costs. Those resolving to save more money or first-time homebuyers might take that a step further by putting money aside for monthly mortgage payments.
And in 2020, mortgage interest rates hit a record low 15 times! Since this time last year, interest rates have dropped a full percentage point, allowing buyers to get more home for the same amount of money. While the interest rates are forecasted to remain low through 2021, many buyers may be incentivized to take advantage as soon as possible.
It’s a High Time for Professional Relocations
Chalk it up to those resolutions and wanting a fresh start in the new year, but January and February are two of the biggest months for people moving to start new jobs. It is also a busy time for corporate relocations. These buyers typically have a limited amount of time to look at properties and decide; they need to select a property that meets most of their needs and don’t have the luxury of being overly picky.
(And if you’re in need of relocation services, I can help! I am proud to work with Helen Adams’ relocation department and have listed with sellers relocating out of the area and buyers relocating to Charlotte!)
Wintertime Staging Helps Houses Feel More Like Homes
One of the biggest goals when selling your house is helping buyers envision their life in the home. Nothing helps a house feel more like a home than creating a warm, comfortable, and cozy ambiance. Simple welcoming touches such as a pinecone wreath, natural greenery, and lanterns filled with twinkle lights on the front porch are incredibly inviting. Inside, create a warm atmosphere with LED candles and textural elements including blankets, pillows, and wall hangings (also a great replacement for personal family photos/art).
Take that feeling of “warmth” up a notch by lighting a fire in the hearth, turning on the gas logs, or lighting a candle. Even better, get into baking mode. The smell of a simple batch of chocolate chip cookies or fresh mulled cider radiating from the kitchen will make anyone feel like they’ve found their home.