Most people following the real estate market in Hamilton have heard that if you’re going to sell a house, fall or spring are the best times to do it. If that’s the case, then it could be easy for one to surmise that winter and summer must be the worst. 

However, 2021 proved that we can’t always rely on assumptions. Last winter, we saw an unprecedented housing boom where prices reached an all-time high in February. By the time the traditionally busy spring arrived, rising interest rates caused the market to falter. 

It just goes to show you that you can’t predict the market. Your decision to move should be based on when it suits your lifestyle and not on what the market is doing or trying to time it. 

In fact, there are often compelling reasons to sell a house during slow times. Yes, that even means right before the holidays. Let’s take a look at what is happening in Hamilton right now.

A Snapshot of the Hamilton Market

After months of critically low supply and soaring prices, Hamilton is now enjoying a much more stable market. As of the last report by the Canadian Real Estate Association (CREA), the housing supply in Hamilton has risen to 3.5 months’ worth of inventory, which is excellent news for buyers. As a seller, you may have to be more patient since buyers have more options now. 

Buyers tend to have less competition and are not rushing to make a decision like they were earlier in the year. However, as a seller, you can rest assured that plenty of people are still searching for housing. We are already seeing demand start to increase as the market adjusts to the new interest rates. For the second year in a row, the cold months may shape up to be busier than anticipated! Prices may have fallen  from their February peak, but the average cost of a house is still more than $200,000 above pre-pandemic values in 2019.

If you’ve owned your home longer than two years, you stand to make an excellent profit by selling now.

Do you want even more advice for a successful sale? Some of our other recent posts can help:

• Should You Wait Until the Timing is Better to Sell Your Home?
• How to Negotiate a Real Estate Contract
• Fact vs Fiction About Working with a Real Estate Agent

Sellers Face Less Competition in the Winter

In the past, more people have listed their homes for sale in the spring than any other time of year. It makes sense because that’s when most people are looking to buy. On the other hand, it’s also when you’ll face the most competition. Prospective buyers then have many listings to choose from, which gives them more negotiating power.

Depending on the market, you may actually get better results when conditions are slower, and there are fewer houses for sale.

Buyers Are More Motivated

The holiday season may be when the fewest people are looking to buy. That sounds like a disadvantage, but it could work in your favour. Why? 

Anyone buying a house now is doing so for a compelling reason. 

For example, they may be recently divorced or have accepted a new position and need to move quickly. In any case, they are highly motivated to act now. 

As a seller, you’ll have far fewer tire kickers who just want to browse through your home with no intention of buying.

While you still should do everything in your power to maximize your results, it’s nice to know that your position is stronger than you may have believed. 

The Unique Challenges of Selling Before the Holidays

Selling a house right before the holidays presents a unique list of challenges. People are busy, and potential buyers spend more time with their families than looking at houses. When you do book showings, you must make the most of them. Here are a few things to keep in mind to make your listing stand out even when buyers are preoccupied with holiday preparations.

Decorate tastefully but with restraint. Some holiday decor will make your home seem warm and exciting. However, be mindful that not everyone celebrates in the same way. A good rule of thumb is always to keep your personal preferences out of your decor when showing your home to potential buyers. During the holidays, this is more true than ever. Your real estate agent will help you stage your home in a way that feels festive and welcoming but never overbearing.

Inclement weather can be a challenge. You never know what the weather will be like when showing your home during the winter. It might be unseasonably warm and sunny, or there could be a blizzard. You’ll have to be prepared for anything. Consider investing in a durable mat for boots and shoes and post a sign politely asking visitors to remove their footwear. Keeping a Swiffer mop in the foyer closet will help you with last-minute cleanups to keep your home show-worthy during inclement weather.

Are you selling a house and then buying? The articles below will help you enjoy a streamlined purchase:

• The Hidden Gems of Burlington You Need to Know About
• Pre-Qualification vs Pre-Approval: Which is Better?
• Interest Rates Are on the Rise: Should You Get a Fixed Rate or Variable?

Best Practices for a Successful Sale Anytime

No matter when you decide to sell, there are always best practices to help you maximize your results. Preparing your home is an obvious first step. You want buyers to stand up and take notice the minute they walk in the door. As a result, your house should be spotless, and all minor upgrades have been completed. However, you can go even further:

Set your price strategically. Overpricing your home is the most common error sellers make, especially during the off-season. Of course, you don’t want to underprice either. An experienced real estate agent always performs extensive background research to determine the optimum price to attract the most buyers in the current market.

Promote your listing thoroughly. Even during busy times, an effective marketing strategy can result in a more successful sale. When selling before the holiday season, it becomes even more imperative. Your listing should be featured on the MLS® and all major real estate and brokerage websites. Offline feature sheets and just-listed flyers can help reach an older demographic with the means to buy your home. However, keep in mind that you don’t have to attract a ton of buyers–just the right one at the right time!

Set realistic expectations. Patience is the ultimate key to successfully selling your home in the off-market. You can still obtain maximum results, but it may take longer than you realize. During that time, be sure to keep your home ready to show. You never know when a motivated buyer will come through the door!

Always Work With an Experienced Real Estate Team

A local real estate team will help you position your home to attract buyers and sell as quickly as possible. Knowing the market and the nuances of the individual neighbourhoods can mean the difference between undervaluing your home and achieving top dollar- even during the busy holiday season.

Are you ready for a successful sale regardless of what the market is doing? There’s no better way to hit the ground running than with a complimentary home evaluation. You can schedule yours today with no obligation right here.