Question: What are the benefits to open houses around the holidays?
Answer: There are pros and cons to having an open house during the holiday season, including some of which may sound a bit contradictory. The advantages include very little competition (inventory levels can be about one-third of what is typically on the market), plus some of the available homes may choose not to be held open. As in most businesses, less competition and more exposure is a good thing for a seller.
Additionally, there is an influx of out-of-area buyers who are here to visit family with the intention of moving here. Often, it’s easier for them to conduct home searches around social visits during their holiday vacations.
In terms of the disadvantages, some buyers will discontinue their search during the holidays due to travel plans, social events, and other seasonal commitments, thereby reducing the buyer pool.
For sellers, it can also be difficult to balance showing the home and still find time to enjoy the season for the very same reasons. Plus, in keeping with the conventional wisdom of staging/presenting a home in a neutral way, it may inhibit them from decorating like they normally would.
These are just a few of the factors to consider whether to hold a home open during the holidays. However, with the strong market, low inventory and large quantity of buyers, if you want to sell your home, you might want to do it.
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