Should I stay listed this Winter or wait until Spring in Kelowna?

Should I stay listed this Winter or wait until Spring is a question at the top of many home Sellers’ minds right now. With the BC Real Estate market being more subdued this year, deciding whether to stay listed through a quieter winter or hold off until spring can feel challenging.

I get it, showings might have been slow recently and this can feel demoralizing, especially if you’d hoped for a quick sale. Add in the carrying costs of maintaining an unsold property, the constant prep for sporadic showings, and the holiday season around the corner!  It’s no surprise then that many Sellers are weighing the idea of hitting pause until Spring.

With interest rates expected to drop in the New Year and a traditionally busier spring market, the idea of relisting when more buyers are out looking might seem like a safer bet. But is it worth it to stay the course over Winter, or does waiting until Spring make more sense?

Here’s a breakdown of the pros and cons to help you make an informed choice.

The Case for “Stay Listed this Winter”.

1: Less Competition
Keeping your property listed through the winter puts it in front of fewer competing listings, which could work to your advantage. If your property has unique features, a winter listing means it’s more likely to stand out to those actively searching—often without the distractions of a crowded spring market.

2: Targeting Motivated Buyers
Winter buyers often aren’t just browsing—they’re driven by life changes like relocations, family needs, or job transfers. They may prioritize closing quickly over price negotiations. With your property on the market through winter, you’re positioned to attract these committed buyers who may act fast, especially if they’re on a limited timeframe.

3: Tapping into Winter Relocations
Many companies still move staff during the winter, and relocation buyers face fewer choices when inventory is low. Listing in winter lets you capitalize on the fact that your property may be among a limited selection, creating a real advantage in visibility and appeal to those relocating to Kelowna who need housing now.

4: Reduced Carrying Costs
For those covering costs on a second property or a vacant home, keeping the property on the market could reduce additional expenses like mortgage costs, property taxes, insurance, strata fees, maintenance, caretaking and snow removal. These add up quickly, especially during the winter months when heating and upkeep can spike.

The Case for Re-Listing in Spring

1: Larger Buyer Pool
Spring usually brings out more buyers, especially in Kelowna. With interest rates anticipated to drop, affordability may improve, drawing out more buyers and creating a more active market. We know there’s pent-up demand out there! While prices may remain stable, more buyers mean more showings, potentially increasing the odds of an offer.

2: Fresh Listing Advantage
Spring presents the chance to reintroduce your property with updated photos and a refreshed listing, especially if you have a pool and a gorgeous Garden. New listings often gain more traction online and can make a big impact with the fresh wave of spring buyers. If your property’s been listed for some time without much activity, this reset can give you stronger market visibility.

3: Timing Your Next Move
Your decision also depends on your future plans. If you’re downsizing, waiting until spring might make sense, allowing you to maximize interest with a larger buyer pool. However, if you’re upsizing, staying on the market through winter could work in your favour. By selling before the spring rush, you can avoid competing for your next home when buyer competition and prices might rise.

4: Improved Buyer Affordability by Spring
With Canadian interest rates widely forecasted to decrease further and new financial easing measures set to roll out on December 15, 2024, waiting until spring could mean a more affordable market for Buyers—especially first-time buyers who’ll benefit from these new government-backed programs. Lower interest rates and increased buyer support can expand purchasing power and bring more buyers into the market, which could significantly improve your chances of selling in a busier, more favourable spring season.

Can your Listing Price Point Affect Your Chances of a Winter Sale in Kelowna?

Yes, it often does make a difference. In slower markets and especially during Kelowna’s winter season, more affordable homes generally have a better chance of selling than higher-priced ones. Here’s why:

1. Broader Buyer Pool
   Affordable homes appeal to a wider range of Buyers, from first-time buyers to downsizers, investors, and even those looking for vacation properties. i.e. the Broader ‘Buyers Pool’ = more chances to Sell.
2. Interest Rate Sensitivity
   Buyers of affordable homes have been more affected by the recent interest rate changes. So, as interest rates continue to reduce, we are likely to see more of these Buyers re-enter the Market.  High-end buyers, on the other hand, often have greater financial flexibility and can afford to wait for the ideal time—meaning luxury listings may see lower activity until the market picks up in spring.
3. Increased Inventory of Higher-Priced Listings in Spring
   Since many higher-end homeowners choose to wait for the traditionally busier spring market, luxury homes face more competition in Spring. Lower-priced homes listed over winter may benefit from standing out as good-value options, catching the interest of buyers eager to purchase without the intense competition of a spring market.
4. Appealing to Local Winter Buyers: Affordability and Mortgage Helper Suites
   During Kelowna’s winter months, most buyers tend to be locals rather than out-of-town or international buyers, as people are less likely to relocate during colder seasons. Local buyers are often on the lookout for affordable homes or properties that include a mortgage-helper suite, given the added benefit of rental income to offset costs.

So, if your property falls at the more affordable end of Kelowna’s market, staying listed through winter could give you a better chance of attracting motivated buyers than if you’re selling a higher-end home, which typically performs better in peak seasons.

Making the Right Move for Your Kelowna Home

I hope this gives you some good ‘food for thought’ as you decide whether to keep your home listed through winter or wait for a busier spring market.

Every property is unique, and the best choice ultimately depends on your goals, property features, and timing.

If you’re looking for guidance with your property here in the Central Okanagan, please don’t hesitate to reach out—I’d be happy to help you navigate the best options for your home!

Useful Links

Kelowna Real Estate Market News, Prices & Trends Blog Post

Bank of Canada Rate Announcements link here