Most people think of spring and summer for selling homes. However, savvy sellers know winter 2024 might be better. Homeowners and investors alike can benefit. Here are 11 reasons why winter could bring hot offers.Fewer homes are on the market in winter. The Toronto Regional Real Estate Board (TRREB) says listings drop by 30% compared to spring. Your property then gets more attention.
Winter buyers are often in a hurry due to job moves or life changes. Homes sold in winter close faster, usually within 45 days, compared to 60 days in spring.
With fewer sales in winter, lenders, inspectors, and appraisers are more available. This leads to quicker closings.
Homes that feel warm and cozy sell better in winter. A 2023 Zillow report found 41% of buyers prioritize comfort and energy efficiency. Features like fireplaces and good insulation are big draws.
5. Year-End Tax Benefits
Buyers often rush to close deals by year-end for tax deductions. This boosts demand in December, giving sellers an edge.
6. More Visibility in a Smaller Pool
With fewer homes for sale, yours stands out more. TRREB reports winter listings get 15% more online views than those in spring.
7. Lower Mortgage Rates
As of December 2024, the Bank of Canada cut its interest rate to 3.25%. Lower rates make buying easier, leading to more offers.
8. Expanded Buyer Eligibility
Recent changes to Canadian mortgage policies have raised the insured mortgage limit and extended terms for first-time buyers. This widens the pool of potential buyers.
9. More Online Searches
Winter's cold drives people indoors, increasing online property searches. January and February see the most activity, boosting your home's visibility.
10. Flexible Holiday Schedules
The holiday season gives buyers more time to view homes and make decisions. A survey showed 23% of buyers close deals during this time.
11. Proven Success in 2024
This year, we've helped over 520 families with their real estate needs. The market is heating up. We're ready to help you buy, sell, or invest.Seize the Winter AdvantageWinter might not seem ideal for selling. But these 11 reasons show it could be the perfect time.