Should You Sell Your Home During the Holidays?
The short answer is “Yes!” But I’m a realtor and of course I’m going to say that, right? Well, I’ll be honest and tell you that I think there are times of the year that are better than others to sell a home, and there are pros and cons to them all. It’s a fact though that homes sold in November and December sell faster and sell closer to their asking price, according to a National Association of Realtors (NAR) study (go to link). This is not conventional wisdom – everyone says that the summer months are the best time to buy and sell! Think about it for a minute though…if you’ve just run a marathon and there are only two companies selling bottled water at the end of the run, aren’t those two companies going to be able to sell the bottled water at a higher price than if there are ten companies selling bottled water? It’s supply and demand. As a runner, you need that water and you’re going to pay for it, and you’re probably not going to haggle over the price, at least not much – you not only need it, you need it quickly! As a bottled water company at that race, you’re in a pretty good position.
During the holidays, sellers are in a good position too. One, there are not as many homes for buyers to view and choose from, so there’s less competition. Two, the buyers that are looking during this time of year are serious buyers – they are out looking because they have a serious need to buy a new home, either a relocation for work, a lease ending, their home has sold, or something similar. Three, the buyers that are looking very likely want to be in their new home by Christmas and/or the beginning of the year, which means they want a new home quickly. (Check out this video for more information!)
All of these are pros for sellers! Now, sellers still can’t get crazy and list their home during the holidays for $30,000 more than market price and think it’s going to sell due to these factors…price and condition of the houses listed are still important…we can’t ever forget those cornerstones of selling. The bottom like is, if you’re thinking of selling, don’t listen to conventional wisdom and try to sell during the late Spring and Summer months like most people do! Get your home on the market in November or December – if it’s priced well and looks good to buyers, it will sell it quickly for the price you set. Want to know more? I’m always here to help!