Forbes rates turkey time as excellent home-sale time
Nov 17, 2014, 11:31 AM | Updated: Mar 4, 2016, 5:46 am
Homeowners might question the idea of listing a home for sale in November and December. But sometimes the "off-peak" time to sell can actually be the perfect moment for sellers. (AP Photo/file)
(AP Photo/file)
Homeowners might question the idea of listing a home for sale in November and December.
After all, aren’t potential buyers sidetracked with the holidays and likelier to postpone their house hunt due to bad weather and shorter days?
But sometimes the “off-peak” time to sell can actually be the perfect moment for sellers. Several studies show that, on average, homes listed in November and December are more likely sell more quickly and more closely approach the asking price, according to an article in Forbes.com.
Thanksgiving is particularly good, the article notes. Buyers may have held out through the busy summer months hoping to find a better deal, but now they may be searching with increased urgency.
Some buyers may be motivated to close before the end of the year for tax purposes. They can purchase a home late in the year to deduct home purchase costs on their taxes, such as points, interest, and property taxes.
A 2011 study conducted by realtor.com found that 60 percent of real estate professionals advise their sellers to list a home during the holidays because they believe it’s an opportune time to sell. Nearly 80 percent of the real estate professionals surveyed said that more serious buyers emerge during the holidays, and 61 percent say less competition from other properties makes it an ideal time to sell.
