Selling your Charlottetown, Brighton, Summerside, Stratford, Sherwood, Winsloe, East & West Royalty, or Prince Edward Island Home or Waterfront in the Fall to Spring (and Winter).
Do not wait until the spring to list your home. You can list now, sell in the winter, and move in the spring.
Supply plummets, demand is strong.
Myth: Buyers do not buy homes in the winter.
Fact: In winter, motivated buyers want to purchase homes and there are few to choose from.
As we roll through the holidays and into winter, many would-be sellers will be holding off on listing their home, waiting for the spring “selling season” to put their home on the market. But if you’re ready to sell your home now, is waiting until spring the best strategy? Not according to the data, it isn’t.
- Homes listed in winter sell faster.
- Homes listed in winter are more likely to sell.
- Homes listed in winter sell closest to their original price.
- Homes listed in winter sell best.
Yes, you read that right!
Overall, homes listed in winter sell best. 5.8% more PEI homes listed in winter eventually sell (compared to the overall percentage of homes listed throughout the year), and they sell 1.4 percentage points closer to their original list price than the median—that’s $4,900 on a $350,000 home.
Spring wins in one category. Speed!
Charlottetown and Prince Edward Island Homes listed in spring sell the fastest, sitting on the market for 15% less time than the median. Winter comes in second in this category though, at six percent below the median. While homes listed in summer and fall both sell slower than the median (12% and 16%, respectively).
Why do you think most sellers are afraid to list their homes in winter? Don’t be shy about sharing this data with your friends who continue to twiddle their thumbs and “wait for better times.” As the data shows, there’s no time like the present to list a property.
In closing, in the spring you have more competition, in turn reducing your exclusivity, and lowering the potential selling price. Selling in the winter means you have less competition, and you will sell your home for more money as a result!
Here’s wishing you the best of the Holidays!