Go Ahead! Sell Your Home During The Holidays
Posted by Richard on October 9, 2019
Conventional wisdom tells us to list our homes for sale during the spring and that nobody is buying in the dead of winter — especially during the holidays.
But that’s flat-out incorrect. While it’s true that there are fewer sales overall, that doesn’t mean your house can’t or won’t sell quickly, and at a good price. In November 2018, according to the National Association of REALTORS, existing home sales actually rose 1.9 percent to a seasonally adjusted rate of 5.32 million units.
That’s a lot of properties. In fact, there are a number of solid reasons to sell during the holidays:
* Less competition. With less inventory available, you have a better chance at holding your price. There was an average 4-month supply of inventory in November 2018 compared with a 4.4-month supply in June 2019.
* Buyers are more serious. People who are buying a home during the holiday season often need to move or are simply much more serious about their search (or they simply didn’t get involved in the holiday excitement).
* Closings can happen faster. A slower season can be to your advantage when it comes to paperwork. With fewer closings in the queue, yours can take place faster than it might in the hectic spring and summer seasons.
* Company bonuses and relocations. Again, a buyer with intent. Most corporate relocations happen in January and February. These folks are serious about moving and aren’t wasting a lot of time window-shopping.
* Houses look and smell great during the holidays. We tend to worry about making our properties sparkle for showings, but it’s just as important to show that this is a home. And what’s better than warm cookies or some well-placed decorations (don’t overdo it) to invite people in?