We will be receiving emails shortly from sellers currently listed for sale in the Mansfield Storrs area, contemplating taking their property off the market for the holiday season. Our answer? A resounding no. You also may be contemplating putting your home up for sale during the fall/winter months.
The reasons are many and varied:
- I don’t want to have showings during the holidays.
- Prices will be better in the spring.
- No one buys homes in the winter.
- I don’t want to move in the winter and neither does anyone else.
This line of thinking is counter-productive with low inventory and favorable mortgage rates.
There is a definite upside to either placing your home on the market in the last quarter of the year or keeping it on the market if it hasn’t sold yet. Unless your strategy includes the thrill of competition in the spring when everyone else decides it’s time to sell, you may want to rethink your plan. Here are some facts to consider:
- It’s a great time to sell something that is not selling during an active market
- Less inventory equals more opportunity to sell a property that is less appealing than its peers when the market heats up in the spring and summer months.
- Lack luster listings can benefit from a shift in supply and demand
- Low inventory can produce a higher sales price for a seller with decreased competition in the winter months
- Yes, there may be less showings in the winter for a variety of reasons, however, buyers shopping during the colder months are often more serious buyers.
- What’s wrong with fewer but better quality showings that may result in a sale to a relocating buyer or a university faculty hire that needs to be in before the start of the spring semester?
- Buyers with time constraints often don’t have the luxury of waiting until spring when the inventory is plentiful and choices are many. Your home may be one of only a few that meet their criteria and under consideration simply because it is available for sale.
We have solutions. We can use blackout dates on your listing to ensure that your holiday merriment is not interrupted by showings and showing requests. We can simply designate certain times and or days that your home is not available for viewing. Buyer wants to close on December 26th? No problem. Rent backs or extended closing dates can be worked out in advance to accommodate all parties in the transaction. The holidays can certainly be kept intact for everyone with thoughtful and skillful negotiation regarding closing and occupancy.
The holiday season is staging on steroids. Could it possibly be any prettier, cleaner or better smelling than as you prepare for holiday guests and parties? A decorated dining room table, fresh greens, a Christmas tree, a festive mantle, lights, what’s not to love? Did you know that one of the first things buyers try to imagine when they view a home is where they will put their Christmas tree?
Keeping your home on the market now may be the best opportunity you’ve had all year to gobble up a higher sales price with low competition, motivated buyers and reluctant sellers who don’t take our advice!