So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this
Should you sell your home during the holidays?
It may not be the ideal time, but with the delay in the spring market due to COVID-19 that caused pent-up buyer demand, many people's search for their dream home continues even during this busy time of the year.
Here are three huge reasons not to wait until the next year and consider listing your home during the holiday season:
1. Those who are house-hunting are committed and serious to buy.
Despite this busy time of the year, buyers who have been actively looking for their dream home are serious and ready to buy. They also want to take advantage of the historically low mortgage rates so they continue to be on the lookout.
Holiday buyers are also more motivated to move on the right home especially if they've been purposefully searching since fall or they need to relocate as soon as possible, making them easier to negotiate with and more eager to close the sale.
2. There's less competition for you as a seller.
The holidays might look like an unexpected time to list your home, but in reality it’s actually more favorable. There are fewer homes on the market to satisfy buyer demand, giving your house a chance to emerge as a good (if not the best) option for motivated buyers. The minimal competition and huge demand can lead to multiple offers that would help you make a sweet sale.
After the holidays, there’ll be more homes that will be available in the market. Builders’ confidence is also ramping up in many states, which means more new construction will be available for sale. If you’re still contemplating on whether to list your home, with these stats in mind you might want to make the holidays an opportune time to finally sell.
3. Homes decorated for the holidays are more appealing.
You're already cleaning, organizing, and decorating your home for the holidays, which means there’s no better time to show if off than now. A holiday-decorated home gives off a homey, comfy vibes that stirs warm memories, no matter what we’ve been through this year. Buyers will be more likely to imagine themselves celebrating festive times and making memories with their loved ones in their potential new home.
If you live in a snowy state and worried that it might be more difficult to entice potential buyers, remember that just keeping the sidewalk and driveway clear of snow and ice can already make a huge first impression. During a showing (whether it’s virtual or in-person), you and your agent can set the mood with festive holiday lights and decorations that will make your home more attractive. Plus, with many people adorning their homes, your neighborhood will be more appealing, giving buyers a chance to see it in a different light.
Despite the prospect of shorter days and colder weather (in many parts of the country), selling your home during the holidays presents numerous opportunities. Moreover, there's a huge potential for a greater and faster real estate deal because of the serious buyers and fewer seller competition. If you’re already determined to sell this holiday season so you can celebrate at your new house, connect with a local real estate agent who will help you turn any potential challenge into an opportunity and make the most out of your biggest investment.