November! A Great Time to Sell or Buy!
November is a great time to list with market changes happening near the end of the year.
One of the biggest myths in Real Estate is the notion that November is the least favourable month to list your home. The onset of the winter months quickly approaching along with the perceived distractions of the upcoming busy holiday season causes concern that adding a real estate transaction in the mix is an off-peak and inefficient decision.
This is a myth.
Studies show that this is an outdated mindset. Forbes has even declared November as a great time to list with market changes happening near the end of the year.
There may be some very key elements that make November a great time to sell or buy.
Here’s why.
Homes listed during this time sell faster.
Perhaps that busy upcoming holiday season is the reason but buyers want to get the deal done and envision the holidays or new year beginning in a new home. There is less hesitancy to act or offer during the month of November. Buyers are motivated and serious if they are taking the time to trek over to see your listed home. Buyers may be ready to buy just due to the imploding holiday season, wanting to have their real estate needs resolved before the year’s end.
House hunting is a great November activity!
More than half of buyers do not have school-aged children to consider, so the notion that summer is the best time to buy or sell may not be relevant. With our beloved and short summer months, people who do not have school calendars as criteria in their real estate search may be far more excited to house hunt when the days are cooler and yet snow isn’t on the ground causing winter weather barriers. Shopping for houses or visiting open houses on November weekends is a far more appealing idea than giving up a summer weekend where there are a million other things competing for our leisure time.
And let’s face it, internet searches are an equally great activity for those early cold weeknights, curled up with a drink and a blanket, the MLS listings can be a great way to get through drab November.
Less Competition
Seller’s around you who have been attempting to sell may decide to take their home off the market to take a break from real estate which means your new listing is a rare commodity! This makes your home possibly the differentiator for a buyer needing what you offer. Taking advantage of a quieter market in November could give you a speedy sale and exciting new year ahead.
Why not move in the winter?
Winter may be the best time to move. Moving can be time-consuming and exhausting. A buyer may see the winter months with a closing date that allows time to get a new home set up before the spring chores and outdoors becomes more appealing. First time home buyers have the cash flow benefits of moving into their home in the winter and getting adjusted before the new chores and expenses that come with homeownership in the spring.
Tax Benefits
Serious buyers may have additional motivation in buying before the end of the year. The tax benefits! You may find that listing your home in November pushes a quick closing to ring in the new year with tax deductions. There could be great tax benefits to you as the seller as well as for the buyer, resulting in further motivation to make that deal.
Thinking of selling your house in the winter months? Why wait?
November may be the best time. Your time.
