The holiday season is often referred to as the most wonderful time of the year, filled with festive decorations, family gatherings and gift-giving. However, for homeowners looking to sell their house, caution is advised, according to Palm Paradise Realty Group. Here are four reasons why end-year holidays are usually not a good time to list a house for sale, and why waiting can maximize profits for your seller clients.
Less buyers in the market
During this time of year, potential buyers are preoccupied with holiday preparations, gift shopping and travel plans. This means they have less time and energy to dedicate to house hunting. Data has shown that the number of buyers drops significantly during the holiday season even though homes are 5% cheaper at this time, on average.
More tire kickers
Most families prioritize their holiday expenses, leaving less room for significant investments such as a new home. This results in a smaller pool of qualified and motivated buyers during the holiday season. With the colder weather and shorter days, buyers are also less inclined to attend open houses and view properties.
It’s a time of travel
The holiday season often means many people are out of town or away from home, which can make it challenging for agents to schedule showings and close deals. This can lead to more time and effort spent on marketing and negotiations. The added stress and time commitment can also be overwhelming for homeowners.
Resolutions start January 1
As the new year starts, people tend to set goals and resolutions, which may include buying a new home. Home staging and renovations can be easier to schedule and complete after the holiday season when contractors and designers are less busy. Tax benefits can make the new year a more attractive time to buy or sell a home.
Oh my! I could not respectfully disagree more! I have found that the holidays are actually a great time to sell (or buy)! People traveling to visit family during this time often discover they want to live in that particular area, where they grew up for example, or, they discover that mom or dad needs to come live with them because they were unaware of a decline in their health. Additionally, life events happen year round, such as births, deaths, marriages and divorces. And you are right, there might be less competition for sellers if other sellers are holding back leaving them to grab the attention of all the buyers who are looking in that price range or area. As a successful real estate agent, in my opinion, it is never wise to “sit and wait”. The time for my clients to sell or buy is definitely when they have made the decision to do so, the house is prepared well and priced correctly to market conditions, no matter the time of year.
One of my reasons for SELLING DURING THE HOLIDAYS is that not only your house shows so festive for new buyers, it also gives them an earlier Tax Credit for HOMESTEAD EXEMPTION by the end of the year. For over 39 years the December months selling & closing homes has always been a good time for my past Sellers & Buyers.
Paula in Florida
What support do you have for having more tire kickers during the holidays? If people aren’t serious, why would people not in the market spend their limited time looking at homes?