Most people in Michigan understand that things are sometimes different in the summer than they are in the winter. Look at driving on our roads as a simple example. In the summer, they are clear, in the winter they may have snow, ice, slush, and have shown a new pot hole or two.
Buying and selling is also something that is impacted. But, how exactly are they impacted, and are you better off selling in the winter, or waiting until the spring?
What you will find is that there are fewer buyers who want to go out in the snow. There are also fewer sellers who list in the winter worrying about that fact. Understanding that fact, you can see that there will be less competition as a buyer, and less competition as a seller. You also will find that buyers who are out looking at homes in the winter are usually more serious about buying overall. There are not as many people who are open to buying, but not ready and serious. This in turn means that there will be a higher likelihood that if you are selling your home and someone comes to tour the home, that they may actually be the buyer who offers.
So, if you are selling in the Spring and Summer, you will see there are more buyers, but also more homes for sale, which means more competition and comparisons for you to be viewed against. Buyers may take longer to make a decision as they are viewing more homes. There are more buyers, so if you have that perfect home on the market, you may have a chance at a bidding war, but there may be multiple perfect fits.
If you are the buyer, you may not have as many to choose from in the winter as you do in the summer, but you also have fewer buyers to compete with.
Overall, if you think about Supply and Demand, there really should not be much of a difference or advantage either way. It really should come down to when is most convenient for you to sell. If there is a job situation causing a move, and it is easier to move in the winter instead of putting things off, just use that as your deciding factor.
I hope this is helpful, please feel free to reach out to anyone on the team with any questions.
Korey Rowlson, Associate Broker