"The sun dipped low, barely passing from view, and the curlew's first Arctic night dropped like a grey mist around him. The tundra cooled quickly, and as it cooled the gale that had howled all day suddenly died. Dusk, but not darkness followed. "
Last of the Curlews
There's a common understanding that real estate is a seasonal business. As the weather heats up, the market heats up. As the holiday season approaches, the market cools down. Home-owners are less interested in putting their apartments on the market. Prospective buyers are less motivated to continue their searches. However, for those willing to ignore the common trends, to move through and about the cooler weather and holiday season, there's often deals to be had.
While the Realtor.com article identities one primary motivation for continuing one's search through the winter: to avoid paying an increased interest rate in 2016, additional reasons exist. Though partaking in summer open houses at properties that have drawn plenty of foot traffic can be exciting (though also sometimes frustrating), moving through an open house one of the last Saturdays or Sundays of the year can often provide you with a more relaxed and enjoyable experience.
Moreover, in New York City, where the housing inventory is known for remaining notoriously low, less people looking simply means that there's less of a chance that you'll be outbid for a place that has piqued your interest.
As a home-owner, one of the primary benefits of putting your home on the market this time of year is fairly straightforward: those who come to see your place will more likely be serious buyers, rather than curiosity seekers. And while it's nice to open your home up to prospective buyers, being able to avoid a slew of people who "just thought it would be fun to see the inside of this place," isn't such a bad deal.
So if you're around New York City this winter, and still considering purchasing or selling a home, remember that although it may be the dusk of the real estate season, we're certainly not surrounded by darkness.
Have a great weekend. Rest well. And as always, feel free to reach out if you're interested in purchasing or selling real estate here in New York.