Home Buying and Selling During the Holidays

If you’re familiar with general market trends then you know that the busy season for real estate begins in the spring. The holiday season, when most people are traveling, dashing around town to get all their shopping done, hosting loved ones, and planning dinner parties, is a historically slow time in the market. Most people who would like to buy or sell figure that they should just put their plans off until late—in the new year—when the market starts to pick back up and they can dedicate their full attention to their endeavors. However, for those who want to ensure that they’re moving forward with their real estate goals and start the new year with a successful purchase or sale, getting ahead of the competition and making your move now could be just the holiday present you’re meant to give yourself this December.

Sellers, know that although there are fewer buyers actively engaging in their search during the holidays, the ones who are on the hunt are definitely more likely to be serious about purchasing in the near future, otherwise they would have put off their search until the new year. You may not see the bidding wars of years past, particularly given our market’s current slowdown, but all it takes is reaching the right buyer. With the right staging, repairs, and simple and quick upgrades, like a fresh coat of paint, we can get your home looking its best so that it attracts potential buyers with eye-catching, targeted marketing. Your home’s landscaping won’t be at its most lush and green in the winter months, but holiday decorations can add an element of warmth and invitation that easily make up for the lack of a blooming garden.

Buyers, you’re dealing with less competition as you search through the available inventory. This means you’ll have more room for negotiation, and although the Seattle market is considered a seller’s market currently with 1.8 months of supply, starting your search during a season when many others opt to pause could make all the difference. I can’t think of a more exciting way to begin 2024 than in a new home. However, plan for the possibility of a slower timeline as you may run into longer waiting periods as the holidays disrupt availability for various involved parties.

Making a purchase or sale before the end of the year could offer both buyers and sellers tax advantages. Explore tax deductible costs like title insurance and fees as well as capital gain exclusions with your preferred lender. With mortgage rates now below 7 percent, buyers are in a much better position to purchase than they were just two months ago when rates were at their high. This drop should encourage some market movement.

In Seattle, we don’t have to contend with harsh winter weather keeping people indoors, apart from the occasional cold snap. Thankfully, unless we get a rare white Christmas, it will be business as usual for people to go about their business in the city. So, although the nationwide market slows during the colder months, there is still potential for an incredible sale or purchase in the Seattle region. We’re seeing just slightly fewer homes listed, with a year-over-year dip of 1.4%, than we did in 2022. Given my experience not only navigating last year’s slow market but many years of varying hot and cold conditions throughout my career, I’m prepared with savvy strategies to find you a home for the holidays. Please reach out to me today to embark on your real estate journey.