There are actually many benefits to putting your home on the market at a time when inventory is low and buyers are serious.
Here are 5 reasons why selling during the holiday season actually makes perfect sense.
1 - Lower Inventory
Firstly, as mentioned, the competition will be a lot lower. If you wait until the new year, you will be competing with everyone else who wants to wait until the holidays are over… which is the vast majority of sellers. Moreover, lower inventory typically equates to higher prices. Since competition is scarce, you can not only be one of the few homes in your area on the market, but because of that, you can ask for top dollar. Once spring rolls around, everyone who has ever thought about selling decides that spring is where it’s at… because it’s one of the peak selling times. But “peak selling time” doesn’t mean it’s the best time for sellers.
2 - Only Serious Buyers Look During the Holidays
Not many people want to move during the holidays. So the chances of you wasting time on looky-loos who are “thinking” about buying and “want to see what’s out there” are a lot lower. In fact, the holiday season is typically the busiest for all of us. So if you have people wanting to schedule appointments or coming to open houses during this time, it means they are serious.
3 - The Holiday Spirit is Alive in Your Home
Let’s face it, a lot of people just feel happier in general when they see a holiday tree, warm lights, and a flickering fireplace during the holidays. With stockings hung from the mantle or the Menorah out on the coffee table, they may even picture themselves living at your home. During the holidays, your home will just “show” better. Bake some gingerbread cookies – or add the scent of pine to the air. Play some soft, jazzy holiday music and buyers will really cozy up to your home.
4 - Sell When Inventory is Low, Buy When Inventory High
When you sell in December when inventory is low, you can command top dollar. Once you’ve sold, you’re free to buy without contingency in the new year, when inventory is higher and it’s more of a buyer’s market. Typically in the new year, a flood of homes come on the market. And with the ability to put in an offer without contingencies because your house will already be under contract, your offer will stand out and you may even be able to put in a lower offer than competing offers with contingencies.
5 - Companies Notify Employees of Relocation During This Time
Often, companies alert employees of relocation plans before the holidays so their employees are settled at the beginning of the new year. So if you doubt there will be house hunters out this time of year, think again! Many don’t have a choice due to job relocation and are highly-motivated buyers because of time constraints. Additionally, they are often given relocation packages by their companies – meaning, they may be able to pay a little more.