- Selling over the holidays can be a great option for the right homeowner.
- While spring and summer buyers move at a slower pace, winter buyers are typically highly motivated and ready to close.
- Hoping to celebrate your holiday without worrying about closing? Winter sellers can work language into their contract to ensure their holiday is peaceful and free of real estate dealings.
Selling over the holidays may seem a bit stressful. Or you may wonder if buyers will bite during such a busy time of year. In reality, serious buyers are searching year-round and the holidays may be a great time for you to list your home. Let’s look into the benefits of selling during the holiday season.
Highly motivated buyers
The simple truth is this: No one really wants to move all their belongings in the middle of winter. You can usually assume that winter buyers are highly motivated and have a timeline they need to hit if they are actively searching this time of year.
Plus, holiday buyers are no different than the rest of us this season; they want to enjoy some downtime and to see friends or family if possible. This means that they may also be ready to act quickly, so they don’t spend the whole season at showings and open houses.
Low inventory and high prices
Winter buyers expect to compete over a smaller inventory of homes, but in today's already low inventory market, this holiday season may be especially tight.
According to the NorthstarMLS, this year's October inventory for the 16-county metro area was down nearly 35% from September. In the lower price points, the drop was even more drastic — the number of homes under $250,000 dropped 38% from September to October.
Meanwhile, sellers won’t need to lower their price or accept a low offer. On average, sellers have been recouping 100% of their original listing price at the closing table since March 2020.
Sellers can set the timing
Even the most eager buyers tend to allow for holiday boundaries. If you receive an offer close to your holiday, you can always delay (or restrict) your closing date to allow your family the celebration you all deserve.
Your REALTOR® can walk you through how to add this language to the contract. (And they’ll probably thank you for giving them holiday downtime, too!)
Thinking of selling?
If you were planning to sell this spring, it may be smart to get a headstart while a small pool of eager buyers are ready to make a move. The best way to get started is to see where you stand. Reach out to Edina Realty or your agent for a free, no-pressure home value estimate.
*Data courtesy NorthstarMLS for the 16-County Twin Cities metro area
for October 2020 and previous months.