There’s no place like home for the holidays, and for many potential Oregon homebuyers, that means your home. The holiday season isn’t typically considered the optimal time to buy and sell a house, but with Oregons’s market still on fire – even when (baby) it’s cold outside – there’s no reason Santa can’t bring you the perfect buyer this winter.
In fact, there are many reasons to consider selling during the holidays. Here are a few.
There’s less competition
November and December are certainly known for gatherings, but generally speaking, those gatherings aren’t open houses. According to Bankrate, the months of May, June, July and August make up 40% of the year’s home sales. But don’t write off November and December just yet; according to Redfin, median home prices in Beaverton climbed 6.9% this year, with no end in sight.
In what was already a seller’s market, that means you could face even less competition during these historically slower months of the year as well as getting top dollar for your property.
Your home is homier than ever
From lights hung outside to the festive music heard from homes, the holiday season makes having the perfect home for your situation feel even better. Homebuying is already an emotion-driven experience, so a home that’s warm, cozy and festive can really make difference in your life.
You don’t have to worry about setting up the Santa on your roof if you’re looking to sell your home as-is. Save that for the next house!
Buyers are serious
The holidays might be the most wonderful time of the year, but they’re arguably the craziest time of the year too. From shopping to parties to family gatherings and other festive events, it can be difficult to take a breath this time of year. With that in mind, homebuyers out and about in November and December are more likely to be serious about making an offer on a property.
During December in particular, you’ll find buyers who need to relocate by January or buyers looking for a tax incentive prior to the beginning of a new year.
You can sell for more
While it may seem counterintuitive to anticipate selling your home for more money during the holiday season, if it’s going to happen any year, it’s likely to be 2021. That’s because home prices have skyrocketed in Oregon over the last several years, and those numbers continue to rise, especially with mortgage interest rates still near historic lows. Less inventory on the market makes the homes that are all the more competitive.
That said, interest rates may be rising soon – possibly before the end of the year, according to The Mortgage Reports – making buyers more serious about getting in while rates are low, even if prices remain high.
It doesn’t have to be inconvenient
Before you write off a holiday home sale because your calendar is already as full as your belly after Thanksgiving dinner, consider selling your home as-is for a cash offer. These don’t use traditional financing and you could have your funds with time to still do some shopping!
With no need to stage your home or get it ready for the market, you can head to that ugly sweater party without needing if you’re not getting something done around the house.
Buyers are motivated
Buyers are looking to get these homes ready for next year. They want to put as much as they can into this houses before years end so they can put it on their taxes. You know that you hold the power when it comes to selling your home!