To many homeowners, selling a home during the holidays sounds like an unproductive experience. While this may have been true in years past, the way real estate is conducted and the way consumers buy homes has shifted dramatically in recent years. There are a lot of significant reasons today to have your home listed for sale during the holidays.
1. Seller Competition Is Lighter During the Holidays
While these new crops of international and mobile American home buyers are searching for homes at odd times of the year, home sellers are often still reluctant to list their homes during the holidays. This creates a shortage of inventory and a strong seller’s market in many cases. The home seller who is on the market in an area with very few comparable homes can often stick strongly to the price they’re hoping to get. Without a reasonable number of similar, competitive listings for buyers to visit, the seller is in a unique position of power because of the scarcity of comparable homes.
2. Holiday Home Shoppers Are More Motivated
Take the average American home buyer who isn’t relocating. They’d just like to buy a home in the town they live in. Those who aren’t particularly motivated by time will often take a break from searching during the holidays and start again in the spring.
Those home buyers who remain active in their searches, however, are the extremely motivated buyers. They’re willing to alter their holiday schedules and brave bad weather to get into a home. These are the kinds of buyers that home sellers dream about. They want to move right away and are willing to spend significant money to relieve their anxiousness about getting on with the home buying process as quickly as possible.
3. Internet Searches During the Holidays Surge
Many home buyers devote a larger portion of their house hunting time during the holidays to searching online, as opposed to seeing homes in person. The added convenience of whittling down a list of preferred homes from the warmth of the buyer’s home during bad weather makes real estate website traffic kick up significantly when the overall market sales might be slowing down.
To have your home discovered during this timeframe, it must be on the market. Word-of-mouth, drive-by sightings, and other forms of direct-contact marketing diminish significantly in effectiveness during bad weather periods. Homes advertised correctly online during this time get significantly more exposure than the average home, and those sellers that are taking a break from being on the market are as good as non-existent to the online buyer.
4. Homeowner Mobility Continues to Increase
Consumers are far more mobile in their lifestyles than they used to be. Occupations change at a higher rate. Companies relocate more often.
Home buyers employed in these business sectors are called to move across the country at any point in the year. Their employers often reimburse them through a relocation package to sell their home and buy a new one. When they arrive in a new city, it doesn’t matter if it’s January or July. They’re going to buy a home fairly quickly.
At Wallace Realty, we are always here to help you with the home selling and home buying process. Give us a call today!