Why year end is the best time to buy or sell a home
Winter is usually the best season for home buyers
Contrary to popular belief, spring, while the busiest home buying and selling season, is not the best time to buy or sell a house.
For serious buyers, the best months are late November through year end. It’s true that there is typically less inventory to view, but more importantly, there is less competition for every property listed.
Most people become pre-occupied with the holidays, so both listing and shopping for a new house gets sidelined until after the holidays. Those buyers who are out shopping often find that sellers are as motivated to close a deal as buyers are to find a house. With fewer competing offers, you will have a better odds that your offer will be accepted.
Winter months are great for sellers too
At the same time, the winter months are great for home sellers. All too often sellers decide to wait until after the holidays to list their properties. If this is you, you are missing out on a great opportunity to get ahead of the competition.
People who want to view your home at this time are years are generally serious buyers. They want to make their decisions and know that shortly before or after the new year, they will be able to settle into their new homes while the masses are just beginning their search. Because most people are so busy, you will not have to open your house to so many lookers, and buyers will be more understanding when you tell them today at 10am is just not a good time.
Did you know that most businesses make decisions about relocations and/or hiring during the late months of the year. In Portland, with so many businesses opening outposts here recently, we do expect to see the influx of people relocating here to continue.
- Homes tend to show as warm and welcoming with holiday decorations, making it easier for people to attach emotionally.
- Most people affected by relocations or new jobs prefer to get into their new homes prior to their start dates.
- According to realty company Redfin, homes listed during the months of December through February tend to sell more quickly. People looking at this time of year are looking because they need to move; not just because they want to see what’s out there that might strike their fancy.
If you are listing your house during the holidays it’s important to remember to NOT go overboard with decorating. You want buyers to see the house, and that there is room to decorate for the holidays, but not overlook those features that make the house desirable.