BOULDER – Conventional wisdom tells us that homes sell faster and easier in spring and summer. This is most often attributed to the fact that parents don’t want to move their children during the school year. However, the demographics of modern homebuyers are changing, (only 40% of first-time homebuyers were married in 2015, compared to 52% in the late 1980s), so the decision to purchase a home is not affected by the same factors as a homebuyer with school-aged children. So, when is the ideal time to sell?
While you might not immediately think of the months between Halloween and New Year’s Day as an ideal time to sell your home, listing your home in November and December does have some unique advantages over other times of the year. In fact, some studies show that homes listed during this time are more likely to sell, sell more quickly, and sell closer to the asking price. Here are some reasons why you should consider selling your home during November and December:
Buyers choosing to house hunt in lieu of shopping for holiday gifts are obviously highly motivated. They will not be easily deterred by shorter days and cold weather. Buyers during this time of year are often moving due to a job relocation or a difficult situation that is forcing them to move; they’re often in a crunch to find something quickly. Nobody is lacing up their snow boots to look at houses unless they are serious about buying.
Year-end tax breaks
As the year comes to a close, many buyers are enticed by the variety of tax benefits that accompany closing on a home. Buyers can deduct several home-related expenses, including mortgage points, interest, home improvements, and property taxes. These are all nice incentive for buyers who are hoping to uncover some extra cash at the end of the year.
Less competition on the market
When it comes to competition on the market, you can actually take advantage of the misconceptions about selling during the winter months. Many sellers do not think it is worth their time or effort to try to sell this time of year, so they opt to take their home off the market and wait until spring. Their loss is your gain! When motivated buyers have fewer homes to choose from, they are more likely to check out your home over the holidays, which means there is a greater chance that you will receive an acceptable offer.
Today’s buyers come from all walks of life, and the traditional “rules” of selling your home in the spring and summer months no longer apply.
Jennifer Egbert is an award-winning, top-producing Realtor with more than eleven years of experience. She is a licensed residential agent that specializes in the Boulder market. She is an expert in Boulder Luxury neighborhoods, home builders and most current market conditions. To learn more about the Boulder real estate market, visit jenniferegbert.com, follow her on Twitter and Facebook or call 303.442.3180.
By Jennifer Egbert, RE/MAX Alliance