Some people need to sell over the holidays, and some buyers have no alternative but to buy a home during the holidays. Whether or not it's best to put or to keep your home on the market comes down to personal preference, but there are some benefits and drawbacks you should consider as you make your decision.
Buyers who are looking through Christmas tend to be serious. Few people are ‘kicking tires’ this time of year.
Reduced inventory over the holidays generally means less competition even though the pool of buyers also dips. Canadians from snow-bound areas – meaning most Canadians outside of Victoria – might be motivated to start looking online for a house in our green-year-round city.
If you have a hard-to-sell home with drawbacks and defects, it might rise to the top when there are fewer homes for sale over the holidays.
It's inconvenient during the holidays to always be ready for a home showing at a moment's notice. Not everybody wants to keep the house spic and span when cooking, wrapping gifts, and throwing parties.
You're appealing to a much smaller inventory of buyers.
It's difficult to finance transactions in December if the offer is received mid-month. Buyers who want to close after the New Year will probably make offers in January.
Many Realtors® are taking their vacations in December and unavailable as the market moves into a seasonal slowdown.
Tips for Holiday Showings:
Scale Back the Holiday Decorations. You don't have to altogether avoid putting up a Christmas tree, menorah, or any other seasonal displays, but you should aim to keep the decorations to a minimum. Don't block or cover selling features such as fireplace mantels, stairs, or stained-glass windows. Too many decorations can be overwhelming and distracting. Don't make the mistake of thinking buyers will "see past it," because they likely will not.
Use Seasonal Smells to Your Advantage. People are motivated to buy through emotion, and some of our deepest and dearest emotions are linked to the smells of the holiday season. Setting out a plate of cookies on the counter along with festive paper napkins for guests or spicy apple cider simmering on the stove along with cups and serving utensils will go a long way to making your home smell wonderful.
If you need to sell or buy your home during the Christmas season, give me a call to discuss strategies.