In most places around the country, as we near the Holidays, the market generally experiences a slow down. Some of the reasons for this is the weather being cold/snowy (not here in San Diego😉), and people are just busier with life. Whether its going to Holiday parties, hosting their own, or making a list and checking it twice. Well, I think while everyone else isn’t focused on selling their home, it can give you an advantage or two, especially when you don’t have a choice on timing. For these reasons and more, I wanted to share with you the top 5 benefits of listing your home during the Holidays, so you can see if this is the right option for you.
1. Buyers are more serious
If you have someone who is taking the time to purchase during the Holidays with everything else going on, you can count on them being more serious about wanting to find that perfect place to call home. Also, those serious buyers that are looking, will often have fewer houses to choose from due to others holding off on selling during this time. This will decrease the competition you’d be working against otherwise, ultimately leading to a quicker sale at the right price.
2. It’s bonus time
For those working in the corporate or bonus offering world (whoo whoo!), they’ll often receive them towards the end of the year, which can become a significant portion of a buyers down payment. Also, living in an area like San Diego, a travel destination, can bring forth all types of buyers looking to invest their recent bonus earnings, not just those local or in the area.
3. Your home shows better
The reaction to Holiday decor can bring a sense of warmth, and fond memories of years past. This is exactly how you want a buyer to feel as they enter into your home. Don’t go all Clarke Griswold, but some hanging lights and wreaths can really bring to life the sense of what it feels like to own your home, and maybe what it would be like hosting your own Holiday there the next year.
4. Get ahead of the crowd
The first of the year leading into the Spring is the busiest time of year to list a home for sale. With more homes for sale (increased inventory), this can drop home prices overall as there are more options for a buyer to choose from (supply vs. demand). By listing during the Holidays, you’re getting ahead of the crowd while inventory is generally limited, making your home more exclusive and more likely to sell at top dollar.
5. Interest rates are still on the up and up
Currently, a 30-year fixed mortgage rate is the highest it’s been in the last 7 years, and is anticipated to continue climbing. This reduces overall buying power and also adds a significant balance to your monthly mortgage payment (see here for an example). Thus, buyers are looking to find a place to purchase before the rates go up again, so they need to be looking this Holiday season.