If you are thinking about selling your house but have decided you need to wait until spring, think again. November is a wonderful time of year to sell your home and has some unique advantages. From December 2019 to February 2020, a little over a million homes were sold. For the “slow” time of year, that’s a lot of homes! Which means, people are searching for homes all winter long.
If you are thinking about putting your home on the market this month, here are the top 3 reasons November may be the best month of the year to sell your home.
Often, the main reason spring is a busy season is due to the fact that parents want to time their move with the school year. However, more and more sellers aren’t basing their timing on the school year. Many older couples and young couples without kids have discovered the fall is ideal.
There are definitely fewer homes on the market in November which means there is less competition. But that’s not a bad thing. You’ll have even more buyers checking out your home meaning you’ll be more likely to get your asking price. It will be easier to catch the eye of the right buyer and oftentimes less inventory means a faster sale. Without an endless list of homes to choose from, yours is more likely to stand out.
More motivated buyers
Buyers in November tend to be more serious in their search. They aren’t looking at your home on a whim. It’s likely they didn’t find anything suitable during busier months or they may be up against work related time constraints. Bad weather and a busy holiday season isn’t a deterrent for them and shouldn’t be for you either.
Buyers want year-end tax benefits
Some buyers are looking to snatch up a property before the year end because they want those tax breaks. They want to deduct the home purchase cost on their taxes for the year including points, interest, and property taxes.
Investors who sold a home during the summer selling season may be trying to avoid capital gains tax. They need to close on a house within 180 days which makes them highly motivated to buy and November the perfect timing.
Selling in November doesn’t come without challenges. Bad weather may mean potential buyers dragging snow through your house and the holidays can be busy and stressful without selling a home. Here are a few tips for showing your house during the winter months.
- Protect your flooring – While you may not usually use rugs, consider purchasing some inexpensive ones for the high traffic areas through your house.You may also want to provide a place for buyers to leave their shoes and encourage them to tour your home in disposable footies.
- Decorate for the holidays – That’s right! Selling in November doesn’t mean leaving your home free from decorations. In fact, during the snowy months it may give your home a more inviting feel. Try to keep your decorations neutral but stylish. A wreath on the door, white lights, and a centerpiece will give your home a warm holiday glow.
- Keep it warm – While you don’t need to crank up the heat, you don’t want buyers to feel your home is cold and dreary. If you have a fireplace, turn it on and bump up the heat a degree or two. You might even want to bake a batch of cookies to give the kitchen a warm, homey feel.
There are many advantages to listing your home in November. People are searching for homes all year long and there’s never a bad time to put your home up for sale!
Whether you are ready to sell your house or just have a few questions, we are always happy to help. Contact us (801.210.0819) and we’ll answer any questions you may have.