There is an unexpected upside to selling during the holiday season.
The holiday season is generally considered the slow season for the housing market. Most sellers wait until the spring to list their house and as a result, real estate activity doesn’t pick up until after the end of January in most markets.
There are compelling reasons however for getting in the market now. As a seller you can turn the slow season to your advantage. A few key things that you might want to consider:
Today’s buyers don’t really stop looking. According to Today.com the modern-day buyer doesn’t truly stop the search for homes during the off-season. They might check out the newest homes on their mobile app before they go to bed or scope out some listings during their lunch break at work. We live such hectic lifestyles nowadays, that buyers often don’t switch into holiday mode until at the last minute. Even during the holiday break they will squeeze in some work. So why not continue the search for your dream home as well? Buyers might actually have more time to view your house during the holiday season.
Furthermore, buyers are realizing that values are increasing and the time to buy is now, while interest rates are still reasonable and they can still get a good price for their dream home.
Less competition. Most sellers believe that buyers aren’t looking for homes during the holiday season and decide to postpone the sale until the spring. Others that have had their homes on the market might take them off during the holidays. This results in a tighter real estate inventory and less competition for sellers.
Buyers that shop during the winter are usually more motivated and these motivated buyers now have fewer properties to consider according to Realtor.com. Therefore, they will be motivated to view your house, regardless of what the calendar says. This is especially true in today’s market where inventory is very tight.
The only drawback is that showings might interfere a little with your holiday activities. However, if you are motivated to sell and flexible, this might be a great time to sell. Especially if you have a home that truly sparkles.
Home not selling? If your property has been on the market for a while and has not been sold, this is the time to lower the price or change your strategy. Reducing the price might just be what your home needs. Remember, inventory is low and buyers will be excited to see your home for sale at a reasonable price.
It is also possible that your house doesn’t show well enough. That can be easily remedied, and this is the perfect time to do so. For more information about preparing your home for showings, read this article: Preparing for Showings.
A few tips for selling your house during the holidays:
1. Decorate. Homes often look their best during Christmas times. However, don’t go overboard with the Christmas decorations. Adornments that are too large or too many can crowd your home and distract buyers. Make your house look like a warm, cosy and welcoming ‘home’ to buyers. When you encourage buyers to spend more time in your home, you also give them more time to admire its best features. Remember, a well-staged home has a higher chance of selling and will often sell at a better price.
2. Find a reliable real estate agent! This means that you should be working with someone who won’t disappear over Thanksgiving or New Years, but who will work hard to help you sell your property. I will go above and beyond to help you sell your house. It is my goal to make the transaction process as smooth as possible, giving you more time to enjoy the holidays.
3. Price to sell. Pricing your property at or right below market rate will make buyers merry! Rather than making small price reductions over the cause of a few months, it is recommended that you price your property right from the start. I can help you determine the right price for your house.
4. Enhance your curb appeal. Make your house stand out from the crowd by adding some tasteful Christmas lights and a nice wreath. This is a great and inexpensive way to enhance the curb appeal of your home. However, take care not to overdo it. That way you can take advantage of the extra traffic on your street for parties and family visits.