A common question from home sellers at this time of year is “Should I list my home during the holidays? The answer is Maybe. Depends on your situation, your tolerance, your entertaining schedule, and of course your local market.
Most people think there are more buyers in the spring, so that is the best time to sell their home. However, while there are usually more buyers in the Spring there is also more inventory to choose from, and more competition for your home. As far as waiting another four months to list your home, no one knows what the future holds, where interest rates will go, what changes the government will make, etc. But there are three things that could happen – The market could stay the same, the market could go up, or the market could go down. You just don’t know, and no realtor can safely say what will happen.
The answer to this question is quite simply a personal choice. We sell houses all year-long, and there are always buyers looking to purchase. However, buyers reasons for looking for a new home can vary greatly and can happen at any time of year. Certain life changes like a growing family, an increase in income, a change in employment, job relocation, or children’s school districts, etc… There are a variety of reasons and they happen all throughout the year. If contemplating putting your home on the market during this holiday season, there are several pro’s and con’s that you should take into consideration and see if it’s right for you.
Pros
- There are buyers looking because they need to. Serious buyers will not take a break at Christmas. They are motivated to buy and are usually a higher quality potential buyer. Not many window shoppers or nosy neighbours at this time. And remember, all it takes is one buyer!
- And in this current market there are still a lot of buyers who have been searching for a while and are keeping our local market in a “Sellers market”. If it’s a Seller’s market now, and you’re a seller – take advantage of it!
- There is traditionally less inventory of homes (aka. less competition) at this time of year.
- The most common month for corporate relocations is January. If your home is on the market in December – you’ve just made their search easier.
- Buyers are emotional during the holidays and buying a home is emotional. A home decorated for the holidays can play on home buyers emotions. But keep holiday decor to a minimum – don’t go overboard like the Griswolds!
- Most likely if you are selling, you are also buying. With your home sold, you can get a jump on the spring market yourself e in a better position to purchase a home with confidence that your home is already sold.
Cons
- Inconvenient – Let’s face it you’re busy! The holidays can be the busiest most hectic time of the year for many. You may not have the time to keep the house in showing condition and you have other things on your mind.
- If you like entertaining at home, it could disrupt your enjoyment of the holidays.
- Access to your home in the Winter. If you are going to invite home buyers into your home, it is a must you keep all walkways clear of snow and ice. You never know when the next showing will be requested.
Work with your realtor and see what works for you. If you do want to sell in December but like to entertain, your Realtor can always block off times so that specific days are not allowed for showings if you have a family gathering scheduled. This is certainly not uncommon during the holiday period and buyers are respectful of this. However, if the holidays are extremely chaotic for you then maybe it is not a bad idea for your sanity to keep it off the market until the new Year.
Either way, a great Realtor with an exceptional marketing plan will be able to guide you based on your needs and personal preferences. If you have any other questions about this topic, feel free to reach out!
Guelph Real Estate Gal Blog 