6 Myths About Selling a Home in January, Debunked by Top Agents
Rumors abound that selling a home in January translates to lowball offers, less interest from buyers, and months spent on the market. While spring is still real estate’s busy season, it’s time to take a clear-eyed look at why selling in January can make a lot of sense for some homeowners. If selling your home tops your list of New Year’s resolutions, you don’t want to miss an optimal window to sell in your market or procrastinate when you could be free of this house and into your new one before spring even hits.
“I personally think it’s an advantage to list in December, January, and February,” says top-selling real estate agent Sam Flamont, who serves Northern Michigan. “My sellers have had just as much success in January as they had any other time.”
Below, we’ll explore the common misconceptions about selling a home in January and how you can take advantage of zigging while other sellers in your neighborhood zag.
Myth #1: No one buys a home in the winter.
“The only difference between selling in January and June is there are fewer buyers in January,” says Flamont. Homebuyers who are in the market in January are often more motivated for a variety of reasons:
Fewer tourist drop-ins:
In Flamont’s Traverse City, Michigan market, the area is bustling with tourists in summer months. Showing requests go up in June and July because curious visitors in town for the weekend will kill a few hours looking at a property with no intent to buy.
So while January means fewer tourists and less activity in and out of your home, the buyers who book a tour in January are likely going to be more motivated once they set foot on a property. “Nobody’s getting their kids out of the car, putting on their boots, trekking through a foot of snow just to kick the tires. They are serious buyers,” Flamont says.
Anticipating a full summer season:
Many of Scranton, Pennsylvania-area agent Ron Thieme’s buyers are looking for a second home in his market, and the cold weather doesn’t deter them. In fact, the most motivated buyers will come from New York and New Jersey during the weekends to look at homes. “They want to get under contract before April,” Thieme explains. “They want to enjoy the whole summer season there.”
Kiddie condos and new semester timelines:
The cost of college room and board has increased significantly in the past 20 years, and many number-crunching parents have decided that buying a condo or apartment for their child will save them money in the long run. If parents want their children off campus and into their “kiddie condos” by the spring semester, they’ll be in a rush to buy in January before students head back to school.