Should I Sell My Home During the Holidays?
During the holidays, particularly between Thanksgiving and New Years, we often get asked whether December is a good time to list a home or if waiting until January would be the best route. The common misconception among sellers is that Spring is usually the best time to sell.
The thinking is based on the fact that Spring and Summer months, particularly during summer breaks from school, generally enjoy a more active real estate market and thus more recorded sales. There is one thing one must keep in mind however: while more homes do sell during the Spring and Summer season because of heightened buyer activity, there also exists a much greater number of homes offered for sale. More buyers and more competition among listings.
In general, we never suggest that sellers wait until January to offer their home for sale. While the buyer pool is relatively diminished during the holiday season, we're actually talking about the quality of buyers vs. quantity.
Everyone knows that discretionary time is at a premium during the holiday season. Most, if not all, of the 'casual' buyers are busy with other commitments, leaving only the truly serious buyers still out there touring homes. Can you think of a better time to make a hugely emotional purchase than during the holiday season when thoughts of family, friends and home are at the forefront of our minds and hearts? December has consistently been one of the busiest months of the year in our office, with buyers and sellers generally taking off only on Christmas Day and New Years Day.
Why You SHOULD Sell Your Home During the Holidays
- People who look for home during the holidays are more serious buyers.
- Serious buyers have fewer houses to choose from during the holidays and less competition means more money for you.
- The supply of listings will increase in January, creating less demand for your particular home, and hence less money.
- Houses show better when decorated for the holidays.
- Buyers are more emotional during the holidays, so they are more likely to pay your price.
- Buyers have more time to look for a home during the holidays than they do during the work week.
- Some people must buy before the end of the year for tax reasons.
- Since relocations cannot wait until spring to buy, you need to be on the market during the holidays to capture that market.
- Even though your house will be on the market, you still have the option to restrict showings around the holidays.
- You can sell now for more money and negotiate delayed occupancy until early next year.
- By selling now, you can avoid purchase contingencies during the spring, when more homes are on the market for less money.