Come the end of October and the beginning of November home sellers start wondering “should I take my home off the market for the holidays?”
Their thinking is there are more buyers in the spring and there is usually a slight uptick in home prices in the spring.
While yes there are more buyers there is also more inventory to choose from.
As far as waiting another 4-6 months to relist your home no one knows what the future holds there are three things that can happen. The market remains the same, the market goes up, or the market goes down. You just don’t know.
Also the conventional thinking of waiting until spring is outdated. The internet has easily put homes in front of buyers in the warmth of their own home.
Should I Take My Home Off The Market During The Holidays In 2020?
The answer is more personal than strategic. We sell houses all year long. Buyers’ reasons for looking for a new home vary greatly. For some, the trigger to look can be any time of the year, like expanding family, a pending job change, a substantial increase of income, etc…
I know for me the last two houses I bought I closed between Christmas and New Years’, putting the houses under agreement in late November. The timing was just right for me.
Pandemic Holiday Season
The Holiday season in 2020 is certainly unique. We have seen a drastic drop in inventory since the start of Covid-19.
There are more buyers than there are sellers. This leaves good houses selling very quickly and often for over the list price. What home seller wouldn’t want that.
Combined with the internet in recent years, shifting the buying season as well, the holidays can be a great time to sell your home in 2020.
Also, thinking forward, we don’t know what the spring market is going to bring. More so than ever….
Home prices are pushing the outer limits of what buyers are willing to pay. Can that continue? Maybe not.
At some point, the banks can’t keep carrying underperforming mortgages. With foreclosures, comes a glut of inventory in the market, creating more inventory, making it harder for your house to stand out.
Advantages Of Keeping Your Home On During The Holidays
- You have done the work to get your home ready. Most sellers have a period of fixing, painting, de-cluttering and depersonalizing their home. Hopefully, you have maintained top showing conditions. Do you want to start all over again in a few months?
- There are buyers looking because they need to. They are motivated to buy. All it takes is one buyer! Buyers will buy all year long!
- Did you know the most common month for corporate relocations is January. Your home will already be on the market.
- Buying a home is emotional and a home decorated for the holidays can play on home buyers’ emotions.
- Potential tax breaks for home buyers if they can close by the end of the year. Yep, I have had buyers want to close by the end of December so they can take advantage of their tax write-offs for that year.
- Most likely if you are selling, you are also buying. You can get a jump on the spring market yourself as inventory levels start to climb from January on.
Disadvantages Of Keeping Your Home On The Market for the Holidays
- Your busy. The holidays can be the busiest most hectic time of the year for many. You just don’t have the time to keep the house in showing condition and you have other things on your mind.
- It could disrupt your enjoyment of the holidays. If you do a lot of holiday activities you could find yourself working around showings and you might not want to put of that holiday weekend baking marathon.
- Access to your home. If you are going to invite home buyers into your home, it is a must you keep all walkways clear of snow and ice. You never know when the next showing will be requested.
- You don’t want to tone down your traditional decorating. If you are overboard over the top decorating for the holidays, it may just be too much for home buyers. You want the buyers to look at your house not decorations.
Final Thoughts On “Should I Take My Home Off The Market For The Holidays?”
So when it comes time to ask “Should I take my Home of the Market for the holidays?” there is no right or wrong on whether you should keep your home on the market for the holidays.
It really boils down to your personal decision and timing. There certainly can be some advantages to keep your home on the market. But if the holidays are chaotic for you then maybe it is not a bad idea for your sanity to take it off the market.
Certainly the 2020 holiday season could be a great opportunity for sellers to get their house sold.
The internet has been a game-changer for real estate and how buyers view homes. Old conventional wisdom was take your home off the market. But with every buyer having all the inventory at their fingertips on their mobile phone, the old conventional thinking is being replaced.
If you are going to keep your home on the market during the holidays your real estate agent should be advising you to keep the decorations tasteful and to a minimum. Don’t go overboard with your decorating. Allow people to focus on your home and don’t sidetrack them with your decorations.
Other Resources About Marketing Your Home During the Holidays
- David O’Doherty – Can You Sell Your House Over The Holdays?
- Wendy Weir – Tips To Get The House Sold Fall or Winter
- Bill Gassett – Should I Sell My Home During the Holidays?
- Tori Toth – Avoid Turning Home Buyers off During the Holidays
This article, Should I Take My Home Off The Market For The Holidays?, was written by Kevin Vitali of EXIT Group One Real Estate. Looking to get your home sold anytime of year? Call me at 978-360-0422 to review my results driven marketing plan.
Real Estate Services in the following areas: Northeast Massachusetts, Merrimack Valley, North Shore and Metrowest including the following communities and the surrounding area- Amesbury, Andover, Billerica, Burlington, Chelmsford, Dracut, Groveland, Haverhill, Lowell, Melrose, Merrimac, Methuen, Middleton, North Andover, North Reading, Reading, Stoneham Tewksbury, Tyngsborough, Wakefield, Wilmington, Westford