Memorial Day is just about here, meaning the United States is just about ready to finally welcome warm summer days.
This holiday is also an important date in the realm of real estate for several reasons. If you’re a homeowner who wants to sell your house, Memorial Day is a great time to do so. Real estate experts have done some digging to show why this U.S. holiday is a prime time for selling and here’s what they’ve found.
A longer weekend plus the end of spring selling season
Weekends, for more working people, are for running errands, cleaning the house, and spending time with friends and family. Because real estate transactions, for both buyers and sellers, can be a long and time-consuming process, weekends often don’t offer enough time for both parties to finish everything up quickly.
The three full-days-off that many Americans have on Memorial Day weekend presents a perfect opportunity to finish up the steps that need to be followed before selling your home.
The long weekend, in addition to Memorial Day marking the unofficial end to the spring selling season, makes this time ideal to finish selling your house.
Data has shown that Memorial Day has been a popular time for selling and closing for many years in a row. Last Memorial Day, 15,564 homes were sold in the country.
This amount is significantly higher than that of other national holidays, such as the Fourth of July. Spring is a hot time for real estate, and Memorial Day proves itself to be the perfect time to finish off the season!
The competition increases after the holiday
Take the logic of Memorial Day offering an extra day off of work and now apply it to the idea that other sellers in the area will be using it strategically as well; in this case, listing their homes on the market.
Last year, nearly 20,000 people listed their homes for sale over Memorial Day weekend, vastly increasing the selling competition in the United States.
Because the data shows that houses sell on Memorial Day at a high rate, use the holiday to finalize the selling process instead of starting it. This will assist you in selling your house quickly before the flood of competition comes in for the summer months!
Summer is a busy time for people
The months leading up to Memorial Day are usually less busy than the summer months. Kids are still in school, the weather in specific regions is still cold and chilly, and people tend to plan vacations in the summer.
Take advantage of this by selling your home because potential buyers will likely plan their house hunting process before the summer.
Planning to sell your home Memorial Day Weekend can lead to a quicker process and a more valuable sale. We always recommend consulting with a real estate agent before listing your home on the market and working with them from beginning to end to prevent bumps in the road.
If you’re a real estate agent or agency, Jason Fox offers reliable marketing services and IDX websites to help boost your business. Contact us today!