October Blog

Selling My Home During the Holiday Months (Oct., Nov., Dec.)

I’m often asked if placing a home on the market during the holiday months is a good idea. Let’s take a closer look at some of the facts and factors that can come into play for sellers and buyers during the months of October, November and December.

Q: Don’t sales of single family homes drop off significantly during the last quarter of the year?

A: Even though that sounds like a very reasonable assumption, according to actual, Austin MLS sales data for 2009 and 2010, the number of single family homes sold in the 4^th quarter of each year was 25% and 22% respectively of the total sales for those years. People are still very clearly buying homes in the 4^th quarter regardless of what you might read on the internet.

Q: What are some of the motivating factors for buyers during this time of year?

A: Late season buyers are often times more serious buyers as well which is definitely an added benefit to you as a seller. These buyers tend to be more highly motivated, as well. A number of very specific factors come in to play for buyers at this time of year: A new job or job transfer beginning January 1st; tax implications for both owner occupied as well as non-owner occupied properties; and, for families with children transferring to new schools, the start of the new semester in January.

Q: What are a few of the important considerations that come into play for sellers during this time of year?

A: Inventory often times is lower at this time of year so there can be less competition from other listings. Homes that are (tastefully) decorated for the holidays tend to show better and can have more of a ‘family’ look and feel to them. And, you can always restrict the days, dates, and times that your home is available for showing to protect your family’s time as well.

Q: What differences are there in marketing my home as well as preparing my home for sale during this time of year versus selling during the spring or summer months?

A: According to the National Association of Realtors® over 64% of home buyers now find the actual home that they end up purchasing online! “Curb appeal” still plays a significant role in marketing your home. Today, buyer’s first impressions now can also come from how they see – and perceive - your home on the internet. Whenever possible your Realtor® should use photos from the spring and/or summer that show your home in the best possible landscaping environment. Interior photos should be well lit and sunny. Flowers and plants can make a favorable impression as well.

Q: What happens when I sell my home during the holidays, but may not have purchased another home to move into?

A: Sellers have several options in this situation depending on their needs. Oftentimes, a buyer and seller will negotiate a temporary “lease back” where the seller, for a negotiated fee, can remain in the home for period time. Short term, ‘corporate housing’ can be an option as well. If you’re planning on buying a new home after the first of the year one significant benefit to having sold your home during this time of year is that you’ll be able to negotiate from a much better position of strength since you’ll be ready to close sooner than a buyer who has a home to sell first.

Best regards,

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Selling My Home During the Holiday Months (Oct., Nov., Dec.)