There is Less Inventory (And Competition) During the Holidays
Serious buyers have fewer houses to choose from and, less competition means more money in your pocket. There will be less demand for your particular house since the supply of houses dramatically increases in January.
The inventory is lower for good homes this time of year. Buyers are still out there looking at real estate and no doubt wishing there were more properties available! Fewer inventory means a better price for your home!
The Holidays Provide a New Strategy for Selling Your House
People that are looking for houses to purchase during the holidays are much more serious buyers. Additionally, buyers may be more emotionally excited during the holidays therefore are more likely to pay your asking price.
If you’ve been having a hard time selling the house, reducing it significantly and pushing for an end-of-year sale could be a new fresh strategy to help you sell more quickly. If your property has been sitting on the market for months, most buyers and their agents will see it as stale or overpriced and disregard it — no matter how great it is or how light the competition currently is. If you had lower offers early on but you weren’t ready to accept them, or you keep hearing that there are issues with the way your property shows, this could be your chance to show the market you’re listening and serious about selling.
Benefits for Buyers and Sellers When Selling At the End of the Year
Decorated houses for the holidays show better! 🙂
With the increase in minimum down payment requirements forcing some buyers to either lower their price point or forcing them out of the market all together, Spring may mean fewer buyers for your home…and all the other homes that waited until Spring to list!
January is traditionally the month where employees start new jobs and may need to purchase a home prior to January in preparation for their transfer.
There are buyers that need to purchase before the end of the year due to tax. Many buyers have an increased time to look for a house during the holidays than they typically do during the work-week with the added holidays breaks.
Challenges of Selling During the Holidays
While the pool of sellers shrinks, the pool of buyers will shrink as well. Make sure you have a good plan to market your house during the holidays.
Selling a house during the holidays can be rewarding, but make sure to go into it with realistic expectations. If you’re home for a stay-cation, it will be inconvenient to accommodate buyers for showings.
One of the hardest things about putting your home on the market is getting it ready for everyone to see. You have to pack up all your stuff, you have to clean, fix, paint, freshen, landscape…lots of stuff. The best time to put it on the market is when you have that stuff done. So when will that be? Does it help you to have a deadline?
Communicating your availability and unavailability will help everyone involved to have clear expectations, but there is no avoiding the potential for interruptions.