Per calendar, the winter comprises the months of December through February, which includes major holidays that Americans and people around the owl celebrate, including Christmas, New Years, Martin Luther King and President’s Days. These distract prospective buyers from the home search, which is why many sellers prefer to wait until the start of spring to consider selling their property. However, here in the DMV area, the market has demonstrated year after year to remain strong and highly competitive throughout the year. The explanation for this is that, in general, the housing market has been increasing as there are more buyers for every season of the year.
Zillow reports that homes do stay in the market longer during the winter season when compared with the summer and spring seasons. However, this could also be a result of winter reports the least number of properties listed in the year. Our local market has demonstrated to stay strong with demand so high that homes are sometimes listed in the market for only a day before going under contract as the inventory is so low and the mortgage rates to lower. If you are thinking of selling your home in the near future, your property might be exactly what buyers are looking for…
Think about it, who really is looking to buy during the holidays?….
- Only the motivated, ready to buy buyers! These buyers have different motives than those searching in the spring or summer. They may need to relocate, have a change in family or financial needs, or simply could not find their perfect home before the season.
- Time off-work: These buyers also have more time off; thanks to three-day weekends and vacations that buyers take during the season, they will have more time to look at properties, and your agent could organize more open houses.
- Buyers are attracted to Christmas decorations. During the preparation to list your property in the market, do not be afraid to incorporate some Christmas decor; this will make your home look comfy and homey, creating an emotional connection for buyers.
- Tax Benefits for buyers: Tax deductions can be significant if buyers close on buying a home before December 31st, as they can deduct the mortgage interest, property taxes, and interest costs of the loan. Although this is not the main reason buyers look at properties during the holidays, it is a motivating factor.
No matter when you are considering selling your property, it is always important to partner with an experienced real estate agent you trust and feel comfortable with. Your agent will guide you through the process and provide you with the necessary information on what the best move to make depends on your necessities to sell.
Interested in learning more about the home selling process? Contact Us!
Please fill out the form below and we will be in contact shortly