We are used to thinking of spring and summer as the time to sell our homes. But hold on – the end of the year can also be a great time to sell. Why?
First, November-December buyers tend to be motivated buyers, ready to buy. At the same time, inventory is lower, and fewer people want to show their homes during the holiday season. This gives you more negotiating power. The end result of all this is that your odds of selling may actually go UP during this time of year! Listing now means more serious buyers, per home.
Secondly, continued low interest rates and the coming of the end of the year may work in your favor. Some buyers are driven by tax strategies or personal goals to go under contract or make a large purchase before year’s end. It is also possible go under contract now, and delay closing until after the holidays. This timing suits many buyers as well.
Third, January is a big transfer month, when workers start new jobs in new locations. Relocating corporate buyers are motivated, on a timeline, and backed by corporate benefits. We have many relocating buyers in North Texas!
Around this time, closing tasks can be less of a hassle too. The ecosystem of professionals involved in a real estate sale, including inspectors, appraisers, underwriters, and so on, aren’t juggling so many transactions. Decreased demand for movers, remodelers, decorators, installers, and so on may also help to create sale pricing on those services.
Fourth, selling now allows you to become a non-contingent buyer in the spring, when you will have many more choices as a buyer. In other words, you may increase your own negotiating power as both the seller and then as the buyer by pursuing an end-of-year sale.
Finally, bear this in mind: Part-time realtors take this time off. You may therefore get only partial support or incomplete information from them about selling during this time. So it’s up to you to choose wisely and be sure your realtor is working at full capacity for you!
In DFW, prices are up approximately 8 percent over last year, with approximately 5 percent more closed units. This means more homes are selling and they are selling at a higher price. It is a great time to sell!
Happy (selling) holidays!