TALKING TURKEY ABOUT THE 2020 FALL REAL ESTATE MARKET

Posted by Cary W Porter on Wednesday, November 18th, 2020 at 9:10am

The Thanksgiving real estate market falls squarely in the middle of, well, fall. And while it’s true the market is usually slower around the holidays; the current market trends of constrained inventory and desperate buyers have in fact made the Holidays an excellent time to put your house up for sale.

The Coronavirus appears to have delayed what is typically a busy summer selling season. Anyone who wasn’t able to buy in summer because of the pandemic is most likely looking to take action sooner rather than later. Pent-up demand, in association with historically low-interest rates, and a severe lack of inventory appears to be stirring up activity. More people are coming off the sidelines to buy with multiple offers and bidding wars becoming the norm making this the best Thanksgiving real estate market for home sellers in recent memory.

With everything going on from Holiday parties to shopping and visits from the in-laws we know that it’s easy to turn away from listing and selling your home during the holidays. Plus, almost everyone says the market slows down in the Winter and you should just wait until Spring, right? WRONG!

With fewer sellers listing during the Holiday period, buyers are left sitting around with pre-approval letters in-hand just starving for inventory!

Need more incentive? Here are 12 reasons selling your house during the holidays is an excellent idea:

  1. People who look at your home over the holidays are serious buyers.
  2. Serious buyers have fewer homes to choose from over the holidays as most sellers take their homes off the market. That means less competition for you and more money for you.
  3. Since the supply of homes will drastically increase in January, they’ll be less demand for your particular home. Less demand means less money.
  4. Houses show better when they’re decorated over the holidays.
  5. Buyers are more emotional during the holidays and tend to spend more money on getting your price.
  6. Buyers have more time to look over the holidays and can come during the weekdays.
  7. Some people must buy before the end of the year for tax reasons.
  8. January is traditionally a month where employers have to move so they can’t wait until springtime. They have to buy now so you’re there to capture that market.
  9. You can still be on the market and you can have the option to delay your close or restrict your showings during those six or seven days if you want to celebrate the holidays.
  10. You can sell now for more money and provide a way for you to delay that closing and extend your occupancy until next year.
  11. Statistics show that people tend to be more generous a more forgiving during the home inspection process over the Holidays and ask for fewer concessions which can equate to $thousands more in your pocket.
  12. By selling now, you have the opportunity to be a non-contingent buyer for next year when houses are less and you’ll have more opportunities to choose from.

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