The holiday season is officially here! While we may not yet have snow that has stuck to the ground here in the Madison area, storefronts are festive, lights are up, and holiday shopping is well underway. It is a common thought that the real estate market slows down this time of year – after all, who wants to move when it is cold out, in between weekends filled with holiday parties, gift exchanges, and travelers coming to/from to see friends and family.
The truth is that there is still a lot of activity going on in our local real estate market. People need to buy and sell all 12 months of the year, and we’ve found that while this time of year does have a degree of seasonality with fewer overall buyers searching in the bitter cold, the market is still very active. The purchasers that are looking in this market may not have a rigid timeline coming up fast (i.e., a lease ending in June), but they are particular in what they are looking for, and they are smart in that they are trying to get a head start on what we expect to be a busy, competitive 2023 buying and selling season.
Selling a home during the holidays can be tricky because it is important to still have the home’s décor appeal to the greatest number of buyers. Yes, holiday décor often brings warmth and joy inside a home, but there are varying degrees of decorations and many different styles that, unfortunately, can come off as tacky and cluttered to hopeful homebuyers.
If you have found yourself in the situation of selling during the holidays, we recommend minimalist décor that matches your current interior aesthetic. We also recommend staying away from any religious items, as that may deter a purchaser with different perspectives. Holiday decorations such as white + sage/emerald green printed pillows, throws, and minimal surface accents are always a tasteful choice. It is also important to ensure that if you have any bulky décor, like a Christmas tree, the buyer can still easily flow from room to room and that it isn’t obstructing any walkways.
If you are a home purchaser looking this holiday season, now is often not the time to put in your best attempt at a low-ball offer because you think the market is slower and that sellers are desperate. There are fewer homebuyers out there as competition, yes, but there is also less inventory – meaning, there is still competition for the active inventory. Move-in ready inventory that is priced right continues to be in high demand, as is most inventory in that first-time homebuyer price point under ~$350,000. It’s an opportune time as a home buyer to get under contract before the spring craziness hits, that is, if you are willing to dive into the winter market and take action with fewer options available.
