Come Again? What Season Do Homes Sell Fastest?

Online realty firm Redfin is challenging the common acceptance that residential listings languish on the market during the cold months. After analyzing properties put on the market between March 22, 2012, and March 21, 2013, the company concluded that winter listings are much more likely to find a buyer within six months. Its research indicated that a home offered for sale in the winter has a 65 percent chance of selling within six months, while spring and summer listings have only a 54 percent chance and fall listings are only 24 percent likely to move off the market within that time frame. Not only are winter listings 9 percent more likely to sell, Redfin noted, they sell a week faster on average and command 1.2 percent more than do homes listed at other times of the year. The company believes that people shopping for homes in the winter are more serious about making a purchase. “There are plenty of people who need to buy a home in the winter, whether it’s because of a job relocation or major family change, like a new baby,” explains Denver-based Redfin real estate agent Paul Stone. “These buyers want to get into a home quickly, and are sometimes willing to pay top dollar.” | Read More