The typical busy season for the real estate market is spring and summer. It’s a frenetic time when many families are hoping to move into their new home before the start of the next school season. It might surprise you to learn that selling during the holiday season comes with its own benefits, making it a different experience than selling during the busiest time of the real estate year.
These five reasons are why winter might be the best home selling season:
- Leverage the Holiday Spirit– Curb appeal is important for attracting the eyes of potential buyers, both in photos and in person. During the holidays, your home is dressed up and ready to put on a show. Classy and cozy holiday décor have a special way of making buyers feel at home while they shop. Not only does your home look its best, but so does the rest of the neighborhood. People purchasing a home during the holidays may see the neighborhood in a more cheerful, festive light.
- Lack of Competition– Typically, there are fewer homes on the market, which means less completion. It allows your home to shine as the best option out there. A motivated seller can easily make themselves a prime candidate for buyers. With less inventory and fewer buyers, there are fewer closings happening so the mortgage process and closing process may move quicker than when there are many transactions happening at the same time.
- Serious Buyers– Buyers during the holidays tend to be more serious during this season. Moving is a challenge regardless of when you do it, but combining busy holiday schedules with winter weather can almost guarantee buyers aren’t there to waste either your time or theirs.
- End of a Work Year & Tax Benefits –Many companies are still hiring throughout the holidays, and they need their new employees to start as soon as possible. Relocation buyers are active during the holiday season hoping to get settled in for the new year. While tax benefits are not the only reason to buy a new home, some homebuyers might be looking to buy before the end of the year for an added tax benefit. Ask an accountant about deducting expenses like mortgage interest, points, and property taxes.
- Fewer Time Restrictions – Though the holiday season is the busiest time of the year, most home buyers enjoy more time off work. It’s often the easiest time for buyers to use vacation time to find their new home.
Although conventional wisdom dictates the best time to sell a home is the spring, there are some very compelling arguments to indicate the winter holidays may be the best time. Home sellers can capitalize on the slower pace, smaller inventory, and serious buyers by listing in the winter months.