As Cape Cod prepares for a major nor'easter homeowners may wish to grab a "For Sale" sign along with the snow shovel. It turns out, winter is the best time to sell a house.
A recent survey by Redfin finds that homes listed in the winter months, even in cold and snowy northern locations, sell faster and for more money than homes listed at any other time of year, including traditional favorite, summer.
Analysts studied data on homes for sale between March, 2011 and March, 2013, and discovered that homes listed in winter months were 9 percent more likely to sell and for 1.2 percent closer to list price than homes listed at any other time of year. Winter listings also sold one week faster than listings in the spring, summer or fall months.
Inventory drops at year's end on Cape Cod, making the few available homes more attractive to serious buyers.
In spite of the cold and snow, Redfin found that the successful winter formula held true in northern cities as well as in the south. In Boston, homes were more likely to sell within six months when listed in winter (62%), spring (51%), summer (48%) and fall (50%).
Surprisingly, summer was the least effective time to list a home for sale.
Like the stock market that far outperformed expert's predictions for 2013, the revelation that winter-time home sales are more productive is cause for everyone to re-think what they thought they knew about real estate.
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