Holiday Market Myths: Why Buying or Selling Now Can Be Your Best Move

People really enjoy this time of year as we approach the holidays of Thanksgiving and Christmas. I know as we get to the end of the year, more people are planning on being extra busy with all things the season brings. The local real estate market does seem to slow down a bit at this time of the year. Therefore, real estate agents always get asked the same question, is now a suitable time of the year to be looking at buying or selling a home? I am here to show you why the next few months may be a wonderful time for you to buy or sell real estate, which is counter-intuitive and may change your perspective.

I completely understand why people wanting to sell their home do not want to have it on the market during the holidays. Folks have decorations up, family and friends are coming to visit, plus all the events around the holidays that keep people busy such as plays, parades, and presents. However, one thing that is common this time of year in the real estate market due to the holidays is there are less houses on the market. As a seller, having less homes on the market means less competition. If a buyer wants to be in your neighborhood or needs the price point of your house, they will have less homes to choose from, giving you a better chance of getting your home sold. Also, if buyers are looking at homes during the holiday season, they are usually serious about buying a home. In the warmer months, we can have more “tire kickers” in the market but that is not the case in the holiday months. Sellers also want their home to feel warm and inviting. As buyers walk into your house and smell the pumpkin spice or cinnamon pine forest with all the cute decorations up, the idea of home automatically pops into their head! As long homeowners do not over-clutter their home with decorations, holiday décor can be incredibly attractive and inviting. With so many people visiting this area and easily falling in love with it, the holidays are a wonderful time to have your home on the market as everyone has family and friends coming by for the holidays! Note, if you do have photos of your house taken during the holidays and it remains on the market after the holidays, take new photos without the decorations!

A buyer’s chance of getting better ‘deals’ on properties is higher during the holiday season. As discussed above, there are less homes on the market so a buyer may have less choices. Having less choices is not always terrible as it can make the decision- making process easier. If you have two or ten restaurants to choose what is for dinner, which is the easier choice? Sellers start having feelings that with winter coming they will not be able to get their property sold. Sellers also may be wanting to get rid of a property for tax reasons before the end of the year. This may allow buyers to be able to negotiate a little harder, allowing them to get a lower price, bigger concessions for repairs or to have a seller pay their closing cost. With the holiday market slower, getting inspections, appraisals and surveys may not take as long. I know the surveyors prefer to crawl through the woods in the colder months as their chance of running into snakes and bugs greatly decreases!

If you are thinking of buying or selling your home, now is as good as a time of any to have your property on the market. If buyers do not know your property is on the market for sale, they will not buy the property. Buyers now is a fantastic opportunity to seize the market. Interest rates are better now than they have been for the past two years and finding motivated sellers this time of year is likely.