‘Tis the season…for selling your home? Really??
With changes in the real estate market, increased interest rates and the fact that the holiday season tends to be a slower time in the market, you’re not the only one wondering if you should just wait. This may surprise you, but some of the reasons you’re concerned about most are precisely why you should list your home now.
Home Prices Falling & Interest Rates Rising
Worried about a cooling market and rising interest rates? You’re not alone. But did you know that selling sooner rather than later means you can avoid the rate hike shrinking your buyer pool? The holiday season offers a unique opportunity to sellers for many reasons, but this year it’s especially timely as the market continues to change going into the new year.
Something that gets lost in the panic of worrying that you’re not getting as much for your home today as you would have gotten six months ago is this: most people who are selling their home also need to purchase one. If you’re selling your home for less today, you’re also buying one for less, so it’s a wash. People who sold their homes six months ago at astronomical prices also had to buy one at astronomical prices.
Serious Buyers
If you’ve put your home on the market in winter, chances are that most of the inquiries that you get will be serious – particularly as interest rates rise. December and January typically see less real estate action, especially when compared to busier spring months. This means you can expect house hunters to be more focused, financially ready, and goal-oriented, making them more attractive as buyers. Holiday house hunters are looking for a forever home during one of the most hectic times of the year. Whether they’re in a relationship status change situation or are relocating because of a job, there are always going to be buyers who need to make a purchase; this means they don’t have time to waste, which is why sales can happen faster in winter than in other seasons. If you want your home sold fast, the winter holidays are a great time to list.
Cozy Holiday Staging
Who doesn’t love holiday décor? There’s something magical about the atmosphere of Christmas – the festive lighting, comforting smells, and beautiful decorations can make any space feel warm and homey. Use your yearly winter holiday makeover to your advantage when you sell – transforming your property into a neutral but festive space can help potential buyers form an emotional connection with your home, making them more likely to commit. A street lined with charmingly lit houses will also make your neighbourhood feel more inviting to house-hunters.
PRO-TIP:
Be careful to strike the right balance with your holiday staging. While Christmas celebrations might feel incomplete without all your decorations, it’s important to remember that staging is meant to make your home as widely appealing as possible. Your home can look festive and bright while keeping your decorations tasteful rather than over-the-top. (You can always put your guilty pleasure Christmas tchotchkes back up after the house sells!).
The best way to ensure elegant, effective staging is to work with a professional. If you list with us, you’ll have an expert stager in your corner to help make your home look its best and earn the selling price it deserves.
Low Inventory
Here’s the bottom line: the holiday season is a great time to put your home on the market because there’s less competition. Winter listings see fewer prospective buyers than spring but potentially higher quality inquiries. With less inventory and more motivated buyers, homes sell faster and can command a higher price for your property.
If you’re looking to sell this holiday season, we’re in your corner. Our team of real estate experts are here to help you stage, market, and close your home, from the beginning to the very end of the process. We’ll also take the headache out of finding your next home, whether you want to downsize or find your ultimate dream property.
Click here to get your 60 second home estimate.