The holiday season is here and Thanksgiving, Christmas, and New Year’s are usually big holidays. It may be a surprise to learn that these days can be a great time to sell real estate. As real estate attorneys in Illinois, we have found that there are actually some good reasons to sell around the holidays.
Buyers may be more motivated during the holidays
People want to buy during the holidays. You may have heard about how many people are moving around the holidays or about how many people like buying houses as gifts for their families and there’s plenty of truth in those rumors. During this time of year, many people want to move into new homes and settle down with their families for the winter season.
In addition, many job transfers happen in January, so there are people looking to relocate before the new year. In our experience as real estate attorneys, sellers can get more money if they sell during the holiday season because buyers are motivated and may be willing to pay a little extra.
Buyers who are looking to buy a house during the holidays are more likely to be serious. They’re planning ahead, so they can afford higher prices or require less negotiation on your part. As long as you accept this situation and don’t overprice your home, you may end up with more money than if you had waited until the new year.
You might have less competition in the market
You might have less competition in the market when selling around the holidays. Sellers typically take their homes or property off the market during the holidays. They assume nobody will be looking. That means the serious buyers that are out there have more limited options, so your home has a better chance of standing out.
That also means that real estate agents will be more likely to show their clients your home. Business slows down for agents at this time, so the clients they do have will want to spend more time with them and see as many available properties as they can.
You can take advantage of the season and stage your home accordingly
You don’t need it to look like the North Pole, but holiday touches can really appeal to buyers. With the right touches, people who walk through your home should be able to imagine themselves sipping cocoa or wine by the fire. They should be able to envision that family holiday dinner, their children opening presents on Christmas morning, or frying traditional dishes for Hanukkah.
Don’t cover up your view with an excessively large Christmas tree and avoid filling your living room in snow globes, nutcrackers, and a large nativity scene. You want to accentuate your home with holiday décor, not bury it. Create an environment that makes prospective homebuyers feel comfortable and warm the moment they walk through your front door. You want them to feel at home. Once they have settled on their future home, our real estate attorneys at Sethna Cook Law are here to help you close the deal.
Winter sales can be quicker
Nothing is easy, but the holiday season can offer you an advantage over other times of the year. According to a study by Redfin, the chance of selling a home in the winter held steady at 65% — higher than any other time of year. On top of that, homes sold from December 21st to March 21st actually went off the market closest to the original asking price, and spent the lowest number of days on the market.
The fall, where Thanksgiving fits in, sees those numbers drop a little, down from 65% to 57% with an average of 34 days on the market. But as a property moves toward spring, according to the study, the potential for a solid, financial gain from a home sale remains steady.
Our Real Estate Attorneys can help you with buying or selling during the holidays
If you’re planning on selling your home, the holidays might be a good time to do so. You’ll find fewer looky-loo’s and more serious buyers who are ready to bid on your house. Of course there are challenges and no time of year is absolutely perfect. However, the holidays may present opportunities that other seasons may not offer. At Sethna Cook, our real estate attorneys have the experience and knowledge to ensure your real estate deal is finalized quickly and correctly. Contact us today for a consultation.