As the year comes to a close, you might be contemplating the idea of selling your home and entering the real estate market. However, the question arises: should you list your property now or postpone it until January? While delaying the sale until after the holiday season might be tempting, there are three compelling reasons to consider making your move before the new year.
Gain a Competitive Edge Over Other Sellers
Traditionally, homeowners tend to shy away from listing their properties towards the end of the year. The holiday season tends to be a busy time, and many people put selling their homes on the back burner until the new year when their schedules and social commitments settle down. This, however, presents an excellent opportunity for you to get ahead of the competition.
By selling your home now, when other homeowners may be delaying their plans, you can secure a competitive advantage. Start the process with a real estate agent today to get your property on the market before your neighbors do.
Attract Eager Buyers
Despite a slight increase in the supply of homes for sale compared to the previous year, the inventory remains relatively low. This means there are not enough homes available on the market. While some buyers might postpone their move until January, others may need to relocate due to personal circumstances or changes in their lives.
These motivated buyers will still be active during the late part of the year and will be determined to make their move. However, they will face the challenge of a limited inventory that meets their requirements. According to Investopedia, a home listed for sale during the winter months is more likely to attract serious and ready-to-buy buyers. Those shopping for a new home between Thanksgiving and New Year's are often highly motivated, which can lead to a faster sale of your property.
Utilize Your Home Equity to Facilitate Your Move
It's important to keep in mind that homeowners today have accumulated record levels of equity. According to CoreLogic, the average equity per mortgage holder has reached nearly $290,000. This means that the equity you currently have in your home could potentially cover a significant portion, if not all, of the down payment for your dream home.
While contemplating the decision to sell your home before the year-end, it's crucial to revisit the reasons that initially drove your desire to move. Whether you're seeking a new home in a more suitable location, one that provides the perfect space for you and your family, or your housing needs have evolved, your local real estate agent can help you assess your home equity and how you can use it to realize your goal of moving.
In conclusion
Listing your home before the new year can offer distinct advantages, including less competition, motivated buyers, and the potential to leverage your equity gains. To achieve your objectives before the winter season sets in, don't hesitate to reach out to the Sycamore Team.
