Many homeowners think putting their house on the market just before the holiday season is a bad idea. This comes from the outdated trend that views the time between Halloween and New Years as an “off season” for home buying and selling.
What people don’t know is that this has changed. In reality, homes put on the market between Halloween and New Years actually sell faster and much closer to asking price than during other times of the year. Here’s why.
- Highly Motivated Buyers
These days many home buyers do not have children, so they aren’t just looking to purchase a home during the spring and summer when kids are no longer in school. Many buyers are looking to purchase a home during the holiday season because they decided to wait during the typical busy season of the spring market, or they had other personal time constraints. The earlier your house goes on the market during this holiday season, the more likely these buyers are to purchase your home closer to the listing price.
2. Less Competition
Because many people have misconceptions about selling their home during the winter, it is true that many sellers do not think it is worth it to try to sell their home towards the end of the year, so they will not put their homes on the market.
This will allow you, the seller, to have more buyers interested in purchasing your home because there are less homes on the market to choose from during the holidays. Therefore, more buyers will be checking out your home, both in person and online.
3. Tax Benefits
A house that gets put on the market in November may lure in buyers looking for end-of-year tax breaks. Some buyers are looking to lower their taxes, and may purchase a home later in the year so they can deduct home purchase costs that include interest and property taxes.