This is always a popular post, and relevant every year!
It happens every year. The holidays. And every year we REALTORS get the same question: Are the holidays a good time to sell my home? For the record, I think the holidays are one of the best times to sell your home. Here are some of the reasons that the Fall and holiday season can be an excellent time to sell your home:
1. Strong activity. Most people believe that the real estate market dies in October, and does not come out of hibernation until May or June. But this is just not true. Below is a chart of the % of closed sales for each quarter of the year for the last 3 years. As you can see, the fall is still an excellent time to sell your home. In fact, it is typical for home sales to be fairly evenly distributed throughout the year, with a slight surge in the 2nd and 3rd quarters, and a slower 1st quarter.
2. Less competition. Because many sellers believe the market will be slow, and decide to wait till the new year to sell, there is usually less competition during the last quarter. Fewer homes for sale means fewer choices for buyers, many of whom are motivated.
3. Buyers are motivated. Let’s face it. Most people want to be eating turkey, drinking egg nog, and dressing up as vampires during the Fall months. But some buyers actually have to move, and are serious about finding a home this time of year. For these buyers, finding a home is very important. And you get the bonus of not having to put up with dozens of showings from buyers who aren’t serious. In short, you have an automatic filter to weed out only the serious buyers. Not a bad situation for any seller.
4. Ambiance. Homes often show very well during the holidays, with decorations, cozy fires, and a warm inviting atmosphere. Many homes look their best this time of year. You have a very good chance of your home connecting with the buyer on an emotional level, which is always the desired outcome for any seller. Bonus points for putting baking an apple pie right before a buyer looks at your home.
5. Flexibility. If you need a rent back, it is often easier to arrange one during the holidays. People don’t like to move during the holidays, so you might find that the buyer is willing to let you stay in your home until the new year.
So my advice is don’t automatically assume that the Fall months and/or the Holidays are a bad time to sell. It actually can be one of the best times to get a great price for your home! It might be the best present you can get this holiday season!