Because popular opinion seems to dictate that real estate business is “best done in spring”, many folks wait to sell until April or May. But if you’ve resolved to get into a space you love by the new year, there’s still time, and we’ve got a few tips to give you the upper hand.

1. Less Competition = More Opportunity: Summer months are typically busier for house-hunting (particularly April-August), with a sudden influx of sellers and buyers cropping up in the spring. Translation: competition is steep, and there’s little time for indecisiveness. Zipping up that puffy coat and stepping out in winter means you’ll probably be afforded both more time for decision making and more bang for your buck.

2. Lower Home Values: When it starts to warm, the market sees a surge of new homes, and the frenzy begins (and home values are driven up by high demand). The Utah home appreciation schedule has been fairly predictable, seeing the most appreciation between March and September (followed by a flat—or even negative—appreciation in cooler months). Since buyer activity slows in the winter, sellers no longer have the upper hand, and with fewer buyers on the market, homes for sale can often outnumber the amount of people looking to buy them. This results in sellers lowering their prices to attract buyers, and you scoring one heckuva deal.

3. Motivated Sellers: Oftentimes sellers have decided to list in winter due to unforeseen circumstances, like a job transfer. This means they’re probably especially motivated to sell quickly, and it puts the buyer at an advantage to negotiate lower sale price, seller-paid closing costs, more- or less-flexible closing dates, and even terms of sale.

4. Fewer Multiple Offer Situations: With a low inventory of properties for sale and a high demand from buyers, multiple offers on properties have become common during recent Utah summers. In the winter months, this trend tends to flip-flop (see: higher home inventory and lower buyer interest). Fewer buyers competing for homes reduces the amount of offers made on a single property, and greatly increases the chances that your offer gets accepted.

If you'd like to chat more about your options (or about why there's never really an off season), we're happy to chat. Contact Sammy Elam via email here or call 937.581.0778(c) or 801.718.5555(o). You can also reach Sammy's preferred Loan Officer at Fairway Independent Mortgage Corporation, Drake Bloebaum, at (385) 355-2122 or [email protected].