York County: Why It Makes Sense to Sell Your House This Holiday Season

Dated: December 11 2020

Views: 87

Why It Makes Sense to Sell Your House This Holiday Season

Why It Makes Sense to Sell Your House This Holiday Season | MyKCM

If you’re one of the many homeowners thinking about taking your house off the market for the holidays, hang on. You definitely don’t want to miss the great selling opportunity you have right now. Here’s why this month is the optimal time to make sure your house is available for holiday buyers.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale has dropped to an astonishing all-time low. It now sits at a 2.5-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market, in which there are enough homes available for active buyers (See graph below):Why It Makes Sense to Sell Your House This Holiday Season | MyKCMWhen the supply of houses for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This means competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.

As this happens, prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. So, if your neighbors decide to remove their listings this season, your house may quickly rise to the top of a holiday buyer’s wish list if you stay on the market.

Today, there are many buyers who are ready, willing, and able to purchase. Record-low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live and to take action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.

Bottom Line

Home prices are appreciating in today’s sellers’ market. Making your home available over the next few weeks will give you the most exposure to buyers who will be actively competing against each other to purchase it.

Blog author image

Ian Drumheller

Helping People Buy and Sell Homes in Hanover, York, and Greater York and Adams County Areas. Throughout his life Ian has exercised the philosophy that “There are no problems. Only solutions” and r....

Latest Blog Posts

The Importance of Lender Pre-Approval

Why Is It so Important to Be Pre-Approved in the Homebuying Process?You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When

Read More

Have You Considered Closing Costs?

Have You Budgeted for Closing Costs?Saving for a down payment is a key step in the homebuying process, and it’s not the only piece you need to include in your budget. Another factor that&rsquo

Read More

Down Payment Assistance for Home Buyers

How Down Payment Assistance Opens the Door to HomeownershipMany people are eager to buy a home right now while affordability continues to be a highlight of the current housing market.

Read More

Writing a Strong Offer in a Competitive Market

How to Make a Winning Offer on a HomeToday’s homebuyers are faced with a strong sellers’ market, which means there are a lot of active buyers competing for a relatively

Read More