Conventional real estate wisdom says to sell your house at the peak months of the market, most notably in May, June, and July. Of course, that makes sense. More people are moving, or at least looking, in those months. Especially in a city with colder winters like Colorado Springs, a lot of people want to pack U-Hauls in the summer heat instead of the snow. But, conventional wisdom is not always the wisdom to follow. If it was, we’d all be eating an apple a day, and who wants to do that? Let’s take a look at the numbers and see just how smart selling your home in winter can be. selling home in winter
The main statistics to focus on here are the few listings in the Colorado Springs area right now. Typically, the Colorado Springs real estate market averages about 4,000 listings in a month. However, as of today, there are only 2,323 listings on the market. That is an astounding number. About half of the houses normally expected on the market are gone as more people decide to settle down in Colorado Springs and hang on to their properties. What does this mean for the seller? It means that there is a need for listed properties in Colorado Springs. With more people relocating here every day, they need homes and, as you can see in the graph below, homes are in shorter supply right now. For some reason, people seem to think everyone is fleeing Colorado Springs. But anyone who lives here and sees the influx of California, Texas, and New Mexico license plates knows differently. This city is growing exponentially. The demand for housing is high, but the supply is shockingly low. The graph below illustrates this. As you can see, the number of homes for sale has been on a steady decline for some time now. selling home in winter
Months like July obviously yield the most listings, and generally summer has the most buyers. But, often times, a number of listings get lost in the shuffle because there are just so many listings and not enough buyers. Winter, however, has the opposite problem. There are not enough listings, especially compared with January 2014 and 2015, which had almost double the number of average listings in January 2016. Quite a few interested and serious buyers are out looking for houses, but there are not enough to meet the demand. Your house can fill that need. Especially if it is priced well, which is what often dooms most winter listings. At Blue Picket Realty, we have been very busy lately with showings. It can even be surprising to us that winter is so active in Colorado Springs because of the old belief that no one is looking for homes in the winter. But, the numbers do not lie. People are looking for homes and they are certainly buying them. Add your home to the mix if you’re thinking about selling sometime this year. You can capitalize on a hot market with cold temperatures and little in the way of property this winter.