Today, I’m going to share with you some real benefits to listing your home during the holidays. Let’s start with what you probably already know. Making the decision to list a home during the holidays means preparing to sell a home during one of the busiest times or year. Yet, for many of you, there may not be a lot of flexibility to list. Some of you are moving to a new home or even relocating to a new city, some are involved with settling estates and some of you need to sell your current home before you can close on your next home. One final reason could be that right now, the real estate market remains strong and interest rates remain low. None of us can predict what will happen in the coming year. Many buyers are still eager to buy and inventory is low. In fact, there are several big reasons to sell now, especially during this time and in this year. It will help you to understand how these benefits fit into your decision to list.
First, less Competition Means More Attention!
One core reason to take advantage of the current housing market is that there are fewer homes listed for sale during this time. That means there may be even fewer properties to compete with yours for available buyers. It’s true that there are fewer people willing to buy during this time, but for others, it’s necessary. When you couple that fact with the extremely low inventory of homes for sale in many areas in Greater Cincinnati, the stars line up just fine. It could also mean that the home sale transaction will be done faster. In some sought after areas, home prices will remain high through the winter months, ensuring sellers get their full value.
Second, Buyers Are Serious Now
Whether they are a first time home buyer or have purchased other homes previously, those who are shopping for a home during the holiday season are typically very interested in buying. That means sellers will spend less time on the window shoppers and tire kickers who may not be ready to buy just yet. For the right home they’ve been waiting for – believe me- buyers will bundle up and brave a cold blustery day to take a look.
More so, these buyers are more likely to be financially qualified to purchase, too. During the busier months, it’s common for people to start looking at homes long before they have made the decision between rent versus buy. Even if they are not renters, people tend to shop (not that I recommend that) before they have financing in place, and that slows down the process for sellers. During the holidays, that’s less likely to happen. Last summer, financing took longer due to a longer than usual wait time for home appraisals. That is not the case in winter months.
Thirdly, Market Value Remains High
Homeowners may be debating if they should sell now or wait because they’re unsure of home prices in the coming months. For example, they may know now, based on existing home sales and pending home sales, that their home is worth a significant amount. If they wait until next year, will that still be the case? Real estate agents like myself are happy to help you get a good understanding of the current prices of comparable homes in your area, and advise you of any signals from the real estate market indicating a change is in the making.
Also, consider mortgage rates. For sellers who plan to buy a new home, including working with builders on new home construction, it may be beneficial to act now while mortgage rates remain low. As I mentioned earlier, we don’t know what next year will bring. It may be possible that those rates will increase in the coming months, adding to the cost to purchase a home and making your home just out of reach to some buyers.
Finally, Recognize the Opportunities in Selling Now
It’s worth investing in a conversation with a local real estate agent like myself for more insight into what’s happening in a specific area or market. Consider both existing and new home sales in the previous few years to get a good idea of how long it may take to sell. Also, recognize that the housing market is always changing.
Again, I’m Dan Hendricks with Keller Williams Advisors. If you are interested in discussing the benefits to selling your home now or perhaps taking the first steps in buying a home, please give me a call. I look forward to hearing from you soon!