The air is cooler (but maybe not drier), the homes are bedecked with lights, the stores are buzzing with activity and everywhere you look the signs are obvious – the holiday season is upon us! But while many turn their thoughts at this time of year to family fun, food and festivities the holidays are also the perfect time for buying or selling a home. Just ask any REALTOR® and they’ll tell you – for many in the local market this is the season for real estate.
The ending of a year is for many the perfect time to sell or buy their new home. The children are on their winter break and thanks to the Nanaimo area’s mild climate getting about to check out properties is a breeze. For those wanting to sell their home the year end may be a motivator to reduce price, especially if they plan to move in the New Year. This factor alone could find some unexpected bargains appearing on the marketplace.
Another advantage for the seller is that traditionally at this time of year the number of homes on the market will be lower. Stats from the Vancouver Island Real Estate Board (VIREB) clearly show that the available inventory of homes on the market is lower than it’s been for years. This means there are fewer homes competing with yours, as a result serious buyers will be more inclined to purchase now, rather than risk losing out later one.
The holidays are also good for buying or selling as the public are simply in a more festive and positive mood at this time of year. The blazing of the Christmas lights, the lilting tune of a classic holiday song drifting through the cool air, the bustle of shops and traffic so common during the season all combine to put people into a mode to buy.
One thing for seller to consider is if you have decided to sell during the holidays, don’t overdo the Christmas decorations. A few twinkling lights and an artfully decorated tree will put people into a positive frame of mind. But too much will just appear as clutter, turning off many potential buyers when they come to view your property. Moderation during the holidays is always good advice, whether it be from celebration or excessive Christmas decoration.