I hear it all the time, “Winter is a terrible time to sell, we want to wait until Spring.” Wrong. In my 14 years as a REALTOR® my seller clients have almost always had great success listing their home in the dead of winter and 2019 is no different. Here’s why:
- The Bank of Canada kept its benchmark interest rate at 1.75% in December. Just days ago RBC dropped its 5 year fixed interest rate and all major banks are expected to follow suit. These changes will get more buyers out looking as the future of interest rates is unknown.
- Two words: LOW INVENTORY. Do you want to have more competition for your listed home or less? If you guessed less, you’d be right! As buyers enter the market with fewer options, your home is sure to be on their list to view – it will stand out. Low inventory can also create multiple offer scenarios depending on your price range.
- Who leaves their home when it’s -30C and snowing? Not a tire kicker that’s for sure. Serious buyers are out looking at homes in awful weather because they need to buy. Corporate relocations tend to happen in January/February. REALTORS® will tell you that their list of buyers right now is a serious list of people waiting for the right home to hit the market. The spring market brings out the ‘looky-loos’. Do you want to put the time and effort into prepping your home for a ‘looky-loo’ or for a serious buyer?
Now, you might be asking yourself, “Is this true for all price points and types of homes?” Not necessarily. If you have a backyard that would be a showstopper in better weather then you may want to wait until spring (unless you planned ahead and had professional photographs of your backyard taken in the summer). Also, not all price ranges and areas are experiencing low inventory. The best advice I can give is this: If you are considering a move any time in 2019 sit down with your REALTOR® now and plan your ideal marketing strategy. “Failing to plan is planning to fail.”
I’m here to help… call or text me at 519-859-7792.