Should you sell your property over Christmas?

While some might argue that it’s most ideal to put your property on the market during the full swing of the spring selling season, the Christmas period also often comes up for debate, with mixed opinions from experts. 

To help you have a jollier time deciding whether selling properties during the holidays is a good idea, we lay out the advantages and disadvantages of selling your property over the holiday season, as well as tips on how to successfully do it. 

Advantages of selling your home over Christmas 

While there is an expected slowdown in market activity leading up to and over the Christmas period, there are plenty of reasons why you should consider selling your property at this time of year. 

• Less competition 

Australia’s property market typically hits the breaks during December and January, with fewer home owners and real estate investors willing to put their properties on the market during the summer months. But if you’re selling, this is good news; it means that there are fewer listings your property will compete with. Additionally, having fewer options up for grabs tends to increase competition among buyers, which can help you fetch a higher price for your property. 

As long as your property is strategically priced, your listing is well-marketed and presentable, there’s a high chance that you will be able to stand out from the pack during this time and close a fast and profitable sale.

• Potential buyers mean business 

Another positive aspect of selling your house over Christmas is that house hunters during this period are more serious about their purchase, which could also help you secure a quick sale. This is because most buyers (usually owner-occupiers) looking for a property at this time want to be able to move in before the new year rolls around. 

• Great time to show off your property.

As a seller, it’s important to understand that first impression matters, and summer is the perfect backdrop to make your property look inviting for prospective buyers.

The festive season also coincides with a month of summer, which means the weather is usually good, flowers and other foliage are in full bloom, and you’ll get plenty of natural light on your property.

If you’re in a suburb where your neighbours have high Christmas spirits, homes in the area will likely be dressed to impress with festive lights and decorations. 

Remember that buying a home can be an emotional affair for some people – and all these factors combined can help them picture themselves in the neighbourhood or see the property with rose-tinted glasses. 

Again, this is all about pulling on the heartstrings. People who purchase during this time of year tend to go for emotional purchases and may be more likely to make decisions based on the feeling a house conjures up. This is an advantage only available during the summer months, as during the spring, there is a lot more foot traffic in homes that are up for sale. Some buyers may not be able to do a thorough walk-through with so many distractions. So it bodes well if there are plenty of triggers that can rope them in from an emotional standpoint.

Disadvantages of selling your property over the holidays 

On the one hand, here are some reasons why it may be best to put off selling your property until the holiday season is over.  

• Buyers may think you are desperate to sell your home. 

Buyers may question your motive for selling your property during a traditionally slow selling period. They might wonder why you are so keen to get rid of your property during this period rather than spending time with your loved ones or going on a summer holiday.

This may lead them to believe that you are desperate to sell because there is something wrong with the property so much so that you want to dispose of it ASAP, or they might think you are out to satisfy a financial debt. 

If they think you are desperate to sell quickly, this could result in haggling, which means lower offers for your property. It’s important to remember that selling at the wrong time could lead to lower profits or dragged-out negotiation as a result. 

• Smaller buyer pool 

One of the obvious disadvantages of selling your home over Christmas is that this is a time when many Aussies go on holidays. After all, many people are not looking forward to making a serious financial decision such as purchasing a home when there’s so much Christmas shopping to be done and there are other (more enjoyable) activities and sights to see during this period.

More importantly, most buyers are likely experiencing buyer fatigue after the busy spring selling season. Some buyers will end up withdrawing from the market, meaning there will be fewer potential buyers.  

• The sale process could take longer 

Because it’s the holidays, there’s a big chance that the people you need to be by your side during the sale process may also be on their respective breaks or vacations.

It may be more difficult to find the right real estate agents to work with because agents will be off work as well. If you failed to make preparations and you couldn’t find a local real estate agent who is familiar with the market, you may be in for a bumpy sale process. 

The Christmas period can also be a difficult time of year to organise finances, with solicitors usually closing their offices between mid-December and mid-January, making the property-settlement process stressful.

Tips for selling your property over Christmas 

If you’ve decided that Christmas is the most wonderful time of the year to sell your property, it’s important to note that fetching a good price will require forward planning, detailed preparation and solid execution. Sellers who don’t set the stage property for the sale make mistakes that can ring up to thousands. 

Here are some practical tips for listing and closing a sale over the holiday season. 

• Check the marketplace trends. Australia’s property markets are ever-changing, so it’s important to be sensitive about the trends in the real estate market. Make sure to check the average market price in your area and the final sale price of properties at the same time last year. Focus on drumming up interest during this time, and having a fair starting price for your listing will get you started in the right direction. 
• Patience is key. While there are several factors that could help lead to a quick sale, sellers during this period should not expect the sale to go unhitched. As mentioned, many brokers, lawyers and lenders have reduced hours of operation or are closed during this period, so the process can take longer than you initially expected. 
• Set the ambience. Presentation is important to any type of sale. During this festive season, make sure to go the extra mile and give your open house a holiday makeover. Add a Christmas tree, lights and other decorations that can help bring a sense of festivity and warmth into your property. Treat your open houses as a little get-together party so that a prospective buyer can imagine having their family or friends over when the next holiday comes around in their brand new home. 
• Don’t overdo it. While it’s important to stage your property for viewing, avoid going overboard. Some real estate agents even favour a minimalist design so that your property can provide a blank canvas that buyers can picture themselves living in. 

Conclusion 

Selling your home over Christmas can be a great decision, as long as you do your research and prepare in advance. With some guidance from a real estate agent, and strong marketing and staging, your property has a strong chance of selling quickly and for a great price.

Gearing up to sell your property? Here are common mistakes to avoid and tips on how to sell your property in a seller’s market. 

On the one hand, if you’re looking to purchase, here’s why experts think Christmas 2021 be the best time to buy a property.