Pictured home: 338 Naniakea St., Hilo
It’s that time again! It’s time to remind sellers that, especially in Hawai`i, property does in fact sell during the holidays!
Hawai`i’s Hot Holiday Season
Conventional wisdom would indicate that the holiday season is the worst time to sell. In Hawai`i, however, this has not historically been true. While home sales in the rest of the nation lag during the holidays, here in Hawai`i, the period between Thanksgiving and the New Year is one of our heaviest selling seasons.
Wanna know who looks at property during the holiday season? Buyers, not lookers, that’s who! It makes perfect sense. Because so many of our buyers traditionally travel from off-island, they typically combine their buying trip with their holiday break.
We don’t know how COVID will affect this, but based on recent activity, brisk sales are still expected. Local buyers usually have extra time off during the holidays as well. You can bet the ones who take time out to view property during this hectic time are very serious.
If selling your home is on your “to-do” list for 2021, you may want to back your time table up a bit. After all, think how much nicer your home will show with the holiday decorations. Take time to bake those holiday cookies; that “homey” smell helps create a sense of nostalgia. It’s a great “staging” opportunity. It helps mentally move a buyer into the home…which is exactly where you want them to be during this busy selling season!
Stay on the “Nice List”
Buyers can be sure that sellers willing to list at this time of the year are very serious. Buying opportunities are still great, but one word of caution to buyers; be careful that your Christmas shopping does not give you a “holiday hangover.” Just $100 of additional credit card debt will impact the amount of mortgage you can qualify for by $15,000 or more. Don’t forget that new debt or credit inquiries might negatively impact your credit score. Interest rates remain near historic lows and there’s new inventory daily. These are all reasons that buyers will be buying and sellers should be selling.
So shop ‘til you drop but don’t forget to book time with your REALTOR®. Whether buying or selling, your agent will be happy to assist with your holiday real estate needs. After all, we know that there’s still time to “wrap up” your transaction in time for Christmas!