Hey Readers, Angie here…. Happy Cold Season! I want to address a question that has come up time and time again as the weather starts to cool, “Is it okay to buy/sell in the fall/winter?” This question is often derived from articles that talk about the market volatility throughout the year. I too have read article after article about why the housing market slows a bit in the fall and winter and revs up in the Spring. It is no surprise people prefer to not move in the winter in the Midwest because it is cold and snowy. Does that mean they don’t? NO. Does it mean I won’t continue knocking on doors weekly to identify potential houses for buyer clients on the hunt? Not a chance! (I love door knocking and I don’t care if it’s 30 degrees outside or 90, I’m going!) 

Regardless of the articles that speculate the right time to buy or sell, the best time to buy and/or sell is when it is right for you! 

Buying in the Winter

Buyers may delay buying to clean up credit so interest rates are more competitive. Some want the slow down so they aren’t hopping in a car to race to a new listing that has 32 showings the first day and 14 offers. I personally love winter buyers because they are serious about needing a home and will drudge through snow with us on the hunt! Winter buyers also get (on average) a little longer to decide on what house they actually want to purchase instead of making a quick decision because all offers are expected ‘tonight at 6 pm!” 

Selling in the Winter

Some sellers list in the winter because personal circumstances warrant selling. An assisted living environment, a job transfer, a death, a marriage, a new baby…to name a few. Selling in the winter doesn’t mean that your house is going to be on the market for months on end. Take advantage of your house being decorated beautifully for the holidays AND that people coming through to see your house are serious about buying. One article I read touched on having kids home from school and having to keep tidying the house for showings. It was suggesting a ‘bad’ time to sell. I disagree. You will always be tidying to get ready for showings ANY TIME YOU LIST and the best news…..we can put your listing on pause when the family comes for the holidays! Yes, we can. 

Higher Prices with Low Interest Rates vs Lower Prices with High Interest Rates

Our daughter Evie and her dad were hunting for an investment property in early summer. Tony suggested they wait til the market slowed a bit so they weren’t paying a higher price. Evie asked, “What is the difference between buying high at a low interest rate and buying when the market slows and paying higher interest?” Hmmmmmmmmmmm, that was impressive from the mouth of a 19 year old. They found a property that matched their search and purchased based on their needs and timeline. After running the numbers, it didn’t make sense to wait as they could begin “cash flowing” shortly after purchase. They had their ducks in a row and it was the right time to buy because it fit within their budget and timeline constraints. Had they not been able to find a property that made sense they would have waited. It all comes down to circumstances and if buying right now fits. YOU DECIDE.

“But I Still Don’t Know What To Do!”

The market is always going to have an impact on buying and selling, as are interest rates, and how long you plan to occupy or hold the property. Consider a conversation with the Sly duo to walk through your needs and timeline. We will always suggest putting the brakes on if it aligns with your real estate goals and timeline. 

Bottom Line: Buy and Sell When It Makes Sense for You

In conclusion, the best time to buy or sell is when it makes sense for you to buy or sell. We study the market daily and can share trends, average days on market, the competition in your segment, what our lenders are saying, and more. There will always be tidying the house, stress over kids home from school, getting mom moved to assisted living, pricing and interest rates. Let the Sly team walk you through what makes sense and give you sound information to consider when making your next move.