Many have often wondered if it would be a good idea, or if selling during the holiday season is the right time? The below article I have written will address this question, but in the end of course it is a personal decision. Of course the decision should be based on correct information and the need one has to sell their property.
Let us get to the point real quick and answer the question “Is it a good time to sell during the holidays?”. Simple answer, the quick and to the point response in my opinion is yes.
The holiday season and selling a home
First to answer to this question let us give the holiday season a definition. I did a quick google search for time frame of the holiday season, and the over whelming response for the time frame of the holiday season was late November through early January. So we will define the holiday season as being the time frame from late November to January.
The time frame of in the above definition covers the more than one holiday, namely Thanks giving and of course the Christmas and New Years. This is a time where many families get together to enjoy time together.
It is very common to see large family gatherings, which of course can make it hard for home showings. Getting a scheduled showing during your Thanksgiving feast, I’m sure would be inconvenient. Yet, when selling a home one can set times and boundaries – so it really does not have to be inconvenient, and one does not have to MISS the potential opportunities of showings and of selling.
Is there buyers during the holiday season?
The best way one could tell if there is buyers, would be proof right of buyers buying. What would be the best proof one could use or provide to demonstrate the fact that homes DO sell during the holiday season. How about we look at sales during the holiday season, for a couple of different areas within Metro Phoenix:
Sales during the Holidays season 2016-2017
South Phoenix & Laveen 416
Sales during the Holidays season 2015-2016
South Phoenix & Laveen 386
Sales during holidays season 2014-2015
South Phoenix & Laveen 320
Sales during the holiday season 2013-2014
Phoenix MLS 10,881
South Phoenix & Laveen 337
As you can see we have pulled sales information for the last 4 years. While there is some small fluctuation in the different areas, there is CLEAR evidence that homes sell during the holidays.
Take for instance South Phoenix and Laveen for last holiday season, they saw 416 sales! Keep in mind that for the last several years it has been a seller market, which means inventory has also been low. We may have seen more sales if buyers had more choices. Regardless, above is clear evidence that one CAN get homes sold during the holidays.
Benefits for buyers to buy during the holiday
Are there any benefits to being a buyer during the holiday season? Wow what a great question, and I think the short answer is indeed yes there is benefit.
Let me state the best benefit in my opinion right off, which is less buyer competition. During most of the year, one will always have to contend with other buyers competing for homes. Also chances are that they WILL like the same home you like as well, right?
Yet during the holiday, many buyers will decide to hold off on their purchase until after the holiday season. So again, less competition.
Another great benefit for buyers, is that homes on the market for sale ARE from home owners that ARE indeed interested in selling. The small distinction is that some want to sell while others need to sell. As a buyer, it is always better to have a home owner that needs to sell. The home owners that need to sell will still be marketing their homes during the holidays, and will be open to offers. Could be a great opportunity to negotiate, depending on the market and need seller has to sell.
Benefits for a home owner in selling during the holiday
Much like for buyers, there is benefit to a home owner that is wanting to sell during the holidays. We have already established, homes DO sell during the holiday season, so why not yours? If considering selling, or need to sell it is a good time to place your home on the market and let me tell you why.
One of the top reasons for placing your property for sale during the holiday season is because there are buyers that need to buy. There are buyers that need to buy, but also there are fewer sellers that are on the market during the holiday season.
There are generally fewer homes placed on the market during the holiday season and there are many reasons. It could very well that this is due to either the inconvenience or belief that no one buys during the holiday. Of course one also may just not want to worry about the showings, negotiating, the inspection periods and would rather hold off placing their property on the market till after the holidays.
The short of this all is: that a home owner or property owner will have less competition during the holidays. With fewer homes on the market, there will be less competition from other home owners. This could actually even be of greater benefit during a seller market.
In addition, there are buyers looking for homes. Not only is there buyers looking for homes, most buyers that are looking are SERIOUS buyers. Buyers that look for properties during the holidays tend to be buyers that NEED to buy a home or that must have a property and generally by a certain time frame.
Conclusion- Based on information from historical sales in the area, one should indeed consider selling their home during the holiday season. One could be sure to have serious buyers look at their home. Buyers that have a need to buy a house and generally have a shorter amount of time for the purchase.
Also as a seller, you will face less competition from other home owners. With less competition, and serious buyers, my suggestion is to go ahead and place your property on the market for sale. Your home, may be like many of the others that have sold before.