Market Update & Selling During the Holidays

It’s the end of the year, but you still need to move. So, what do you do? You can consider the following advantages and drawbacks to trying to sell your home during the Winter months near the holidays.

Advantages

• Less competition of homes on the market

• Tasteful holiday décor can appeal to buyers emotions

• Buyers continuing to house hunt during the holidays are often serious buyers

Drawbacks

• Logistical challenges with showings and moving around holiday commitments

• You’ll need to stay on top of keeping access points clear of snow if winter weather presents itself

• Some buyers press pause on house hunting during the holidays, so you may see a decrease in activity

General market update

So, how’s the market? Things have certainly changed in comparison to 2021 and 2022. We still have an inventory shortage which bodes well for sellers on the surface, but interest rates are keeping a lot of buyers from pulling the trigger. From a ‘boots on the ground’ approach, we are seeing less multiple offers which means less over asking sales. We are seeing offers including a home sale contingency come up more frequently. We are overall seeing a lot of buyers interested in making a move but holding off on making decisions. 

Our prediction is that as we get into next year, either slowly the rates will continue to change for the better OR buyers will begin to accept this as the new normal. At that time, a lot of folks who have been on the sidelines may re-enter the market. However, a lot of folks who would be move-up buyers may feel inclined to stay in their current homes where they have a favorable interest rate. 

As always, it’s tough to time the market. Every market has both advantages and drawbacks so you need to consider your specific goals when thinking about making a move.