Putting your house on the market during the holidays won’t land you on the naughty list! This year’s market trends have flipped previous real estate expectations on their head thanks to a lower inventory, higher buyer demand, and less days on the market for your home. Holiday buyers tend to be more eager to move in before the new year whips into gear, and competition decreases as fewer homes are actively marketed over the season. Here are some major advantages to selling your home this Christmas:
Sleigh the Competition
Housing inventory has been tight since COVID-19 hit in early 2020, yet buyer activity is at an all-time high. As a seller, listing your home during the holidays is ideal because few homeowners are willing to add more to their plate in an already busy season. Many people don’t want to trade decorating the tree for packing boxes, so holiday listings become a hot commodity. Conventional wisdom says homeowners should wait for springtime and warmer weather to list their homes, but this isn’t the golden rule of a swift sell. With even less inventory than usual, you’ll be the big fish in a small pond. Put that For Sale sign up and get ready for the nibbles.
Buyers Are Ready to Make it Rein
As the year comes to a close, expect more serious buyers who are ready to close deals. Anyone house hunting during the holidays has a good reason to do so - people who are relocating for jobs, investors on tax deadlines, university staff or students, and military personnel have a higher likelihood to need a house fast at the end of the year. Inventory is lower, so many house-hunters move quickly to lock in their dream home while they can. Loan officers are also more likely to approve and close qualified buyers over the holidays as the housing market slows down. Homeowners who live in a warmer climate are at an even higher advantage, as there’s less risk of bad weather dampening an open house.
Santa’s Elves at Your Service
A great realtor will give you the best of the best during the holiday season. As the season slows down, realtors often have a little more time for each listing. Legacy Broker Group agents are the cream of the crop and offer premium service year-round, but you’ll get even more attention when there are less homes for sale over the holidays. Legacy Broker Group agents understand the local market, so we can help you list your home in the most profitable price range for the season.
Unwrapping Tax Breaks
The opportunity for homebuyers to save money on a real estate purchase is slipping away, as is the opportunity to secure a tax break. Mortgage rates remain low, but they’re expected to creep up by the end of the year. Locking a mortgage in at a lower interest rate leads to lower monthly payments, which is also a nice incentive for selling homes now. Reducing property tax bills could also motivate buyers to make a move before year ends, because homebuyers can deduce their mortgage interest, property taxes, and interest coasts of a loan on sales that close before January 1.
Snow Better Time to House Hunt
Posted by Karson Kelso
Time off from school and work leaves eager buyers with more free time than usual to search for their next real estate investment. Serious house-hunters have more time to get prequalified, browse listings, and attend open houses during the holiday season. Just be sure not to embrace the season too much - overdoing it on holiday decor could distract from getting the job done. Work your curb appeal with lights and a festive wreath, but keep your other decor simple. If your house doesn’t sell before the new year, there’s still a chance for merriment. The real reason for the season is bigger than dollar signs and glittering lights. Take a moment to enjoy time with your family, and remind yourself that if you don't sell now, there's always next year.