Home Sales During the Holidays Los Angeles
Every year around this period, individuals
Those considering relocation face a pivotal choice: Should they put their homes on the market immediately or delay the sale until post-holiday season? There are even homeowners who, having listed their properties, contemplate withdrawing them until the new year begins.
However, it's important to note that numerous prospective buyers are eager to secure a new residence in time for the festive season, and your property could be the perfect match for them.
Pros of Selling Your Home During the Holidays:
Serious Buyers: The holiday season often attracts serious buyers motivated to settle into a new home before the new year, possibly due to job transfers.
Less Competition: With typically lower housing inventory during this time, sellers face less competition, potentially making their property more appealing.
Negotiating Power: The combination of fewer buyers and less competition can grant sellers greater negotiating leverage.
Warm Festive Atmosphere: The holidays provide an opportunity to create a warm and inviting ambiance in your home, which can foster an emotional connection with potential buyers. When selling your home during a holiday season, ensure that any decorations you display enhance rather than dominate the room. Adopt a 'less is more' approach for a balanced and appealing presentation.
End-of-Year Tax Breaks: While not the primary reason for a purchase, the potential for tax breaks before December 31 can motivate buyers, especially with recent tax laws limiting deductions.
Leveraging Holiday Traditions: Staging your home with holiday decorations and emphasizing a cozy, festive atmosphere can enhance its appeal.
Cons of Selling Your Home During the Holidays:
Fewer Buyers: The holiday season typically sees a decrease in buyer activity due to seasonal commitments, weather concerns, and vacations.
Unexpected Delays: Coordinating showings and paperwork can be challenging as many professionals take holidays, leading to potential delays.
Staging Challenges: Balancing holiday decorations with the need to appeal to a broad audience can be tricky. Too much personalization may detract from the home's appeal.
Constant Readiness: Maintaining your home in a “show-ready” state can be more challenging during the busy holiday season.
Potential for Lower Offers: Lower buyer traffic reduces the likelihood of bidding wars, possibly leading to lower offers.
Fortune Builders puts it this way:
“ . . . while a majority of people take a step back from the real estate market during the holiday months, you may find when the temperature drops, your potential for a great real estate deal starts to rise.”
An article from Investopedia explains it this way:
“Anyone shopping for a new home between Thanksgiving and New Year’s will likely be a serious buyer. Putting your home on the market this time of year and attracting a serious buyer can often result in a quicker sale.”
The National Association of Realtors (NAR) states:
“There’s still this gap between demand and supply because we were underbuilding for many years. . . . So now we see demand is slowing, but it still outpaces supply.
Rental prices have soared dramatically in recent times. Consequently, many buyers seek to break free from escalating rent costs and avoid being trapped in the rental cycle for another year. As highlighted in a Zillow article:
“Over the next 12 months, rents are expected to grow more than inflation, the stock market, and home values.”
Conclusion
There are numerous compelling reasons for listing your house during the holiday season. Let's determine if this is the opportune moment for you to sell.