I’m going to jump straight to the point: During the holidays, you should be relaxing. You shouldn’t be selling your house. And I say this because the amount of “business” (or interested buyers) going around this time of year isn’t really high. Most people are at home, preparing to have family over for holiday meals and just enjoying the festivities. So, why spend your holidays stressing over the sale of your property while everyone else is out decorating for Thanksgiving and Christmas? Why worry about keeping your house clean for potential buyers when most of them are going to stay where they are?
If you want to give yourself a gift this year, take my advice and follow the data. As you can see from the chart below, the majority of homebuyers looking at properties in Madison, WI (represented in foot traffic) are at their lowest during December and January. If you’re looking to sell your house this year, your best chances are now. October and November are some of the highest months where buyers are looking at properties, and it’s one of the best times to get attention over your home.
October May Be Spooky, But Buyers Aren’t Afraid
Here’s the obvious advantage to selling before the holidays: There are a lot of buyers looking at homes for sale — which means more opportunity to get your home sold. But there’s an extra advantage that you probably didn’t notice yet, and that’s the competition. When there’s a large influx of buyers in the Madison area, it creates something called a “seller’s market,” meaning you have the potential to sell your home for more money. It happens when there are more buyers looking and not enough homes to meet their demand, which in return, raises the asset’s value (i.e. your home’s value). Buyers will essentially be competing over your home, persuading them to make concessions in order to seal the deal on the transaction before someone else.
So, if you decided to sell your home during October, you’ll not only have tons of interested buyers, but you’ll have greater negotiating power than you would during the summer season. During the fall, there is traditionally less homes for sale, making your land a premium piece of real estate for buyers that need to move now.
Bring the Foot Traffic to Your Home
As you can see, there is a ton of buyer foot traffic in Madison right now. If you want to get that traffic in your front door before those buyers start settling down, get our inside tips to selling your home. We’ll show you how you can “stage your home” to sell for a higher price and we’ll provide guidance on where to price your home to attract the most buyers. Download our free guide to Selling Your Home This Fall: