By the time you read this, winter will be over. Or will it? If I could reliably predict the weather, I could tell you the exact temperature of the spring real estate market.
Each winter is different. In years with many January and February snows, the market starts slowly. One factor is the ability to complete repair and maintenance projects in preparation for sale. When the weather is poor, projects can be delayed, pushing back the date their homes are ready for marketing. Sellers sometimes hesitate to open their homes to viewers as visitors can track in snow and mud.
House-hunting is affected by how many properties are available for sale. If there are few, some buyers will hesitate to make a decision for fear of not having enough comparison. Wintry weather deters some lookers from going out at all. The whole selection process can take longer when the weather is bad.
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Often, the spring selling season begins after the Superbowl. When football season is over, supposedly, buyers are ready to spend their weekends house-hunting. Even when the winter is mild, a late-season snow event could surprise us. Sometimes we think spring is underway, and then we find ourselves with a foot of snow. Trying to install a “FOR SALE” sign when the ground is frozen? Good luck!
On the positive side, if you are ready to sell your home early in the season, the lack of inventory can be an advantage. IF a buyer is motivated to make a quick decision and choices are limited, the seller will have the upper hand in negotiation. Exterior photos in the bare winter months are not the best, but if there is fresh snow on picture day, everything benefits from a cheerful, sparkling white blanket. Be ready to plow driveways, shovel snow, and make pathways safe if you’re expecting visitors.
Another thing about snow and ice: it makes some people want to move. I remember a year when we had multiple big snows, one after another. The market was very quiet, and we waited for months for the weather to improve. After all the plowing, shoveling, and snow blowing, the phone started to ring. Pet owners were tired of icy leash walks, and the idea of having a private yard for letting out pets became much more attractive. Other homeowners were ready to admit that they were done with snow labor. They were ready to consider a warmer climate or a community with snow removal services.
Industry experts insist 2021 will be another robust year for home sales. Between the weather and COVID-19, we’ll be ready and make the best of whatever occurs.
Local expert Johanna Wiseman of RE/MAX Preferred Professionals can be reached at 908-705-0652, or visit www.MyBridgewaterHome.com