General Real Estate News November 20, 2023

Unlocking the Power of Year-End Moves in the Real Estate Market

Year-End Moves in Real Estate Market, as the year comes to a close, you might be contemplating the idea of putting your house on the market. The question arises: Is it better to sell now or wait until January? While the allure of waiting until after the holidays may be strong, here are three compelling reasons to consider making your move before the new year.

  1. Get One Step Ahead of Other Sellers: Traditionally, in the residential real estate market, homeowners tend to be less inclined to list their properties towards the end of the year. The holiday season tends to keep people busy, causing some to postpone selling until the start of the new year when schedules and social calendars settle down. This presents an excellent opportunity for proactive sellers.

By deciding to sell now, when others might delay until after the holidays, you position yourself a step ahead of the competition. Initiate the process with a real estate agent promptly to ensure your house hits the market before your neighbors decide to do the same.

  1. Get Your House in Front of Eager Buyers: Although the supply of homes for sale has increased compared to the previous year, it remains relatively low. Despite some buyers postponing their plans until January, others may have urgent reasons necessitating a move, such as changes in personal circumstances.

Buyers active later in the year are often highly motivated to make a move promptly. An article from Investopedia suggests that if your house is on the market between Thanksgiving and New Year’s, those interested are likely serious buyers. Listing your home during this period can lead to a quicker sale due to the increased seriousness of potential buyers.

  1. Use Your Equity To Fuel Your Move: Current homeowners are enjoying record amounts of equity, with the average equity per mortgage holder reaching nearly $290,000, according to CoreLogic. This substantial equity could potentially cover a significant portion, if not all, of the down payment for your next dream home.

As you contemplate selling before the year’s end, it’s essential to recall the reasons motivating your desire to move. Whether it’s a desire for a new home in a more suitable location, a space better suited for you and your loved ones, or evolving needs over time, your local real estate agent can assist in evaluating your home equity and devising a plan to achieve your moving goals.

Bottom Line: Listing your home before the new year presents unique advantages, including less competition, motivated buyers, and the potential to leverage your equity gains. To capitalize on these benefits, reach out to a local real estate agent and set the wheels in motion before winter arrives.