Why January is a Prime Time to Sell

While traditional real estate advice often says that spring is the best time of year to list your home, many real estate agents have found evidence that January is actually one of the best months to put your house on the market. If you’ve made the decision that you’re ready to move, instead of waiting around for spring to arrive, here are some reasons to consider listing your home for sale in January.

The “Fresh Start” Mentality

After welcoming in a new year, people tend to evaluate various aspects of their lives and identify any areas where they want to make a change. Many families and individuals may decide that the start of the new year is a perfect time to begin looking for a newer or larger home or to relocate to a different neighbourhood or city. Listing your home early will allow your home to capture the attention of enthusiastic buyers.

Less Competition

Historically, the inventory of homes for sale tends to be lower in January compared to other times of the year. This scarcity of available homes can work to your advantage as a seller, as it means less competition for your listing. With higher demand amongst consumers due to fewer available homes for sale, you may also be able to close on the sale at a higher price as buyer competition will be higher.

More Serious Buyers

In warmer weather, your listing is more likely to attract the attention of viewers who are dipping their toe into the idea of moving but are not necessarily committed to the decision. Since home shopping in unfavourable weather conditions requires more effort, those that are actively looking during the winter are likely serious about their decision to move. Listing in the January will help you reach serious buyers who are motivated to close on a sale. This will also save you from time wasted on ongoing open houses or showings that don’t result in an offer.

Year End Bonuses and Pay-Outs

Many companies provide their employees with year-end bonuses around the end of December. Similarly, those choosing to retire at the end of the calendar year may be moving into January with extra money from payouts. With the increase in available spending money, many of these people may decide that January is an ideal time to upgrade their living situation or to purchase their first home after renting. 

Interest Rates

Mortgage interest rates are often lowest during the winter months. Many buyers will be motivated to act quickly to lock in low mortgage rates at this time, particularly if rates are expected to increase soon. This can lead to increased demand among buyers and a quicker timeline to close on your home sale.

By taking advantage of low inventory, high demand, and motivated buyers, choosing to list your home in January can help you sell your home faster and for a higher value, allowing you to start the new year off on the right foot. If you’re considering selling your home, our Sotheby’s International Realty Canada agents can provide the tools and expertise to guide you through the process.