When the weather turns colder, most Realtors and real estate analysts will tell you that home sales will slow to a crawl. With the holidays on the horizon and school-age and college kids a few weeks away from winter break, sales of Irvine real estate typically follow the national trend and decrease during the winter. While there are fewer Irvine condos and homes that sell during the winter, does this mean the Irvine home owners should wait to put their homes on the market until the spring?
While it is true that home sales tend to slow down during the winter, this may actually be a beneficial time to test the resale marketplace. First and foremost, fewer Irvine homes are on the market for the reasons stated above; a lot of potential sellers are more concerned with holidays travel plans and buying gifts than listing their homes and opening them up for buyers to see. If you list your Irvine home during the winter, you will face lower competition than in the busier spring and summer buying seasons.
The slowdown also extends to buyers as well – many do not want to fork over a down payment when that money is needed for the holidays, and families with children do not like changing schools in the middle of the year. The buyers who are looking during the slower season typically are ready to buy now rather than window shopping, so you are more likely to find very serious buyers. Winter buyers will also appreciate the lack of bidding wars during the slower buying season and are more willing to get involved in negotiations rather than sitting them out because of the stress multiple offer situations can create.
While listing your Irvine home for sale in the winter may not provide you with the higher amount of potential buyers seen in the busy season, you will also face less competition in the marketplace…this reason alone should be more than enough for you to list your home and see what happens. If you would like to learn more about the current trends in the Irvine real estate market, please do not hesitate to contact us.