Think spring market is the only time to make a move in the holiday housing market? Think again!
While spring and summer may feel like the optimal times for your suburban search, there are plenty of perks to continuing your search when the temperature drops. Not only are people out and about in many communities during the holiday housing market but lots of fun, family-friendly activities are also happening (hello, holiday cheer!). Get a peek of what future holidays could look like by visiting festive markets, tree lightings, and checking out local shops.
And if you’ve already zeroed in on a suburb? Winter could be a great time to buy. Here’s why…
#1. Less Competition in the Holiday Housing Market
The holiday season is bustling with festive activities, leading many families to postpone listing their homes in the holiday housing market until spring. However, not everyone follows this trend. Some homes have been on the market since spring or summer and are still waiting for the right buyer, possibly you, during the holiday season.
Due to generally lower inventory around this time, many potential buyers take a break from house hunting, which can benefit you. If you find the right home in the holiday housing market, you’ll face less competition with fewer offers.
One Long Island mom, who relocated from Forest Hills in December, shared her experience:
“After searching throughout spring and summer and constantly facing outbidding or high prices, we finally found a house in early winter in the town we had been eyeing for months. The house had already seen a 5% price reduction when we discovered it. Amazingly, we purchased it for $100,000 less than the asking price and closed the deal within four weeks… just days before Christmas.”
#2. Motivated Sellers in the Holiday Housing Market
If a house has been on the market for a while – since spring, for example – owners are likely eager to sell it. This could be good for you. Because they want to sell quickly, you can talk them into throwing in some extras, making concessions, or doing repairs. It’s not always a sure thing, but often, owners are more willing to budge on the price or be flexible with the timing if they’re still trying to sell their house during the holiday season.
#3. Even MORE New Sellers
Again, if a house has been for sale for a long time, the owners are likely very eager to sell. But what about houses that just go on the market during the holidays? Usually, there’s a strong reason for this, such as the owner getting a new job somewhere else or they’re about to move into a new house themselves. These sellers are often in a hurry to sell, too. So, it’s smart to watch for houses that pop up for sale during the holiday season.
#4. Closings Could be Faster
In the hectic spring market, finalizing the purchase of a new home can take weeks — with banks, lenders, and other parties involved being swamped, this can slow things down. However, with the holiday season typically seeing fewer home sales, you might find an opportunity to speed up the closing process on your new home.
#5. Think Ahead to Spring
In the holiday housing market, especially in colder regions, you might encounter homes at their least glamorous — think bare yards, absent greenery, and heaps of snow. But this can actually be beneficial. Experiencing a property during winter means no surprises when the cold season comes around. Plus, if a home still appeals to you in the holiday housing market’s chill, just imagine how wonderful it will be when the weather warms up and everything blossoms. Don’t let the colder weather keep you from finding the perfect fit in the holiday housing market. Get started today! Schedule your FREE Suburbs Strategy Session to learn how we can help.
