Is Winter a Good Time to Sell Your Property?
The short answer is ‘Yes’.
As we find ourselves firmly in the grasp of winter, the property market is certainly not putting its feet up and snuggling under a warm blanket to wait it out. Properties are continuing to sell well in a continuation of what has been a very strong year for the market in Edinburgh and the Lothians.
Demand is Not Seasonal
In spring 2015, February to June, we sold 89% of the properties that we marketed in that period. This is traditionally seen as ‘peak’ time. Compare that with Winter of 2014-15, September to January, where that figure was 94%.
Most property buyers tend not to move home on a whim. There are many why people may be looking to buy; relocation for work, an expanding family, or even a separation. As a result, they don’t simply give up needing to move at the end of September and take a break until the next spring!
With less people putting their properties on the market in winter, due to the perception surrounding peak selling times, there is less competition among sellers and less properties for buyers to choose from. However the demand from buyers is still there!
The rules of supply and demand mean that there will always be an increased level of interest in the properties on the market during the winter period, greatly increasing the chances of those properties selling.
Smart sellers consider selling when demand is high but supply is low.
Even with demand outstripping supply, not every property on the market will sell during this period. If you want to make sure that you are in the strongest position possible to take advantage of the winter market, here are some of our top tips for selling your property during Winter.
Top Tips For Selling Your Property in Winter
Here are MOV8’s top winter selling tips, to give you the very best chance of selling your property for the best possible price!
- If your property isn’t on the market yet, don’t delay! You’ll be able to take advantage of active buyers and a dwindling amount of properties coming to market. Many buyers will be on annual leave over the festive period and will have more time for viewings.
- Create a warm, cosy environment for buyers when they come to view. If the weather is chilly ensure that the heaters are on for an hour before anyone comes round.
- If you have one, get the garden winter-ready by deadheading old flowers and giving the lawn a final mow. Consider evergreen or winter flowering plants to add a splash of colour.
- With Christmas comes decoration! Create the illusion of as much space as possible by keeping surfaces uncluttered. Cards can be hung on string and attached to walls or doors for example.
- Be realistic on price. Even though the balance of supply and demand is in your favour you want to make your property as attractive as possible. Remember that receiving any offer is good. It may not be the price you are looking for, but starts a conversation between you and your potential buyer. Your agent will be able to advise you further on pricing structure.
- Do not underestimate the power of a good clean! A good tidy-up and some elbow grease can go a long way to increasing the attractiveness of your property to any viewers. This is the perfect time to clean items such as curtains that you may have, as it is much more likely that they will be closed due to the longer nights.
- Once the festive period has come and gone, try to return the property to normality as quickly as possible. Get new toys put away, throw away boxes and used wrapping paper to have your property ready to be viewed at a moment’s notice. Remember that many buyers will be on annual leave over the festive period and will have more time for viewings.
- If your exterior photographs were taken in the winter months and the property is still on the market at the turn of the year, arrange a re-shoot with your agent’s photographer. Hopefully the new shots will include some blue skies and greenery, or at the very least without snow on the roof! Snow dates the time that the property came to the market, suggesting to potential buyers in spring that the property has been on the market for a while. With that in mind, we are giving a free exterior re-shoot to all clients who come on the market with us throughout the winter period.
If you follow these tips, make your property as welcoming as possible, and remember that buyers are still out in force throughout the winter, you will stand the best chance of selling your property for the very best price!
If you are thinking of selling, and would like to know how much your property may be worth, or are thinking of buying and are looking for someone to act for you to note interest or to place an offer, please do get in touch – we will be delighted to help!
Until January 31st 2016, we are also offering Half Price Home Reports, on top of our great value Fixed Estate Agency Fee, when you sell with MOV8. To find out how much you can save, email us at [email protected], call us on 0345 646 0208, or click here to arrange your free property valuation, quote or for more information.