1. Lack of competition
The common belief, for years, has been that listing a home in the spring and summer will ensure that you “net” the most buyers. But when everyone lists their homes at once, suddenly you become just one in the crowd.
In the spring and summer, there are more homes being listed, giving potential buyers the license to be picky and take their time with a listing. In addition, with so many houses available, this requires more effort and strategics to make a property stand out.
What the holiday season offers is the chance to emerge as the best (if not only) good option out there. Less competition goes a long way towards stacking the deck in your favor; people house hunting during the holidays want to make a purchase sooner rather than later.
With less options to choose from, the advantage often goes to the one bold enough to sell a house during this unexpected time.
2. Winter sales are often quick (and profitable)
If you were afraid the frostier weather might adversely affect the housing market, you can breathe easy. According to a 2013 study by Redfin, the chance of selling a home in the winter held steady at 65% — higher than any other time of year.
On top of that, homes sold from December 21st to March 21st actually went off the market closest to the original asking price, and spent the lowest number of days on the market. As a property moves toward spring, according to the study, the potential for a solid, financial gain from a home sale remains steady.
This doesn’t mean selling a home during the holidays is a guaranteed to net you a profit. But it does mean much of the fear and uncertainty around selling a property during this time — whether for investing or accommodation purposes — should not be a deterrent to you exploring all your home selling options.
3. Flexible schedules
Most Americans take a majority of their vacation days between the week before Thanksgiving and the arrival of Christmas. While this period of time can be hectic and busy — there’s all that turkey to eat and football to watch — there’s still quite a bit of downtime for most folks during the holidays.
This can serve dual purposes. It can offer you an opportunity to perform upgrades on a property you might not normally have time for. You’ll have the flexibility to clean and maintain a property, not to mention stage the home in a more festive and pleasing manner which can often add healthy margins to your final sale price.
More importantly, this sudden influx of “free time” gives would-be home buyers the chance to peruse your property beyond “usual” viewing times. Instead of waiting for weekends to display a property, or after work, you can set showings during the week, which means more eyes and more opportunities for someone to make an offer.
4. Leverage the holiday spirit
As the old sales axiom goes: “People buy on emotion, and back up with logic.” And there may be no more powerful emotional pull than the feelings associated with winter holidays.
And it’s not only residential neighborhoods that get in on the act; many cities go “all out” to provide a festive ambiance downtown, in parks, and in locales frequented by residents. So why not tap into this powerful emotional tone-setter and use it to sell your existing property?
As anyone who’s bought (or sold) a property will tell you: emotion is a big part of the transaction. Sure, the numbers have to match; but so do those sub-conscious, emotional factors that many home buyers aren’t even aware of.
By aligning your property with an existing holiday motif — which can often be done in a matter of a few hours — you can ensure your property makes a great first impression. (And increases your chances of making a deal much to your liking.)
5. COVID, COVID, COVID
Inventory (homes available for buyers to purchase) was already low pre-pandemic. Now, we have a mix of factors that make this the ultimate time to sell your home.
First, historically low interest rates, which means there are record numbers of buyers waiting to pounce for their first home or an upgrade!
Second, COVID made people reconsider their living space – many realize they want larger yards and an extra bedroom to convert to an office.
Third, we have seen mass migration from large, expensive cities to wonderful communities like ours here in the Mid Valley. Add in that trends of more screen time browsing homes online and traditional moves for end-of-the-year job changes. It is truly a recipe for the best sellers market we might ever see.
So, if you’ve got your ducks in a row — and you’re ready to move on from your home or sell your invest property, quickly — then tapping into this powerfully skewed market to sell can be a lucrative way to go!
Ultimately, there are several compelling reasons why selling your home now may offer the biggest benefit to you. And especially in today’s buyer-heavy market, we have a whole database of buyers just waiting to find their perfect home! Call us anytime to discuss the first steps that you can take to get your home ready for the market.