The holiday season brings more than just cheer, it also brings unique opportunities in the real estate market. As the year draws to a close, the Christmas season picks up pace in activity and a host of advantages for both sellers and buyers. So prominent is this change of pace, it has a name, the ‘Christmas real estate market’.
During the holiday season, buyer activity experiences a noticeable uptick. Several factors contribute to this surge, including the desire to settle into a new home before the new year, the availability during the holiday time for house hunting, and the sentimental appeal of starting fresh in a new home for the holidays. As an example, we recently helped a first home buyer secure a property after commencing the search since the start of the year, simply because he had holiday leave and could fully focus and ‘sprint’ the process to secure a property. Which he did!
Another key advantage of the Christmas real estate market is competitive pricing. Sellers often strategically price their properties to attract buyers during this time. With fewer properties on the market compared to other seasons, buyers have a unique opportunity to negotiate favorable deals and secure homes at compelling prices.
Also, similar to the rest of the retail market during the holiday period, this season allows real estate professionals to tap into creative and effective seasonal marketing strategies. This feels to have anecdotally reduced over time however there agencies are still having fun in varying levels from festive staging and captivating photography to holiday-themed virtual tours.
Sellers dont get all the benefits though. Buyers also have advantages during this period too with less competition compared to other seasons, buyers have a better chance of finding their ideal home resulting in a lesser likeliness of bidding wars and competition. Additionally, sellers may also be more open to negotiations, resulting in favorable terms and conditions.
Of course, one thing you will find is that not all two property settlements are the same. Whether a buyer or a seller (and the selling agent for that matter), there is heightened motivation during the holiday period. Who this favors at the end will differ at a case by case basis. One thing for certain though, during the holiday period the rules change and the pace is amped. And in the real estate space, this could amount to tens of thousands of dollars saved.
For more information about buying property or more generally about the state of the market ‘no matter the season’, reach out to us today at Citadel Property Agency for a free consult.