October is the sweet spot for booking travel for the holiday season, according to the experts.
A domestic round-trip ticket for Thanksgiving currently averages $298 and for Christmas it is $406, according to new figures from travel site Hopper.
But prices will begin to drop in the next few weeks.
In order to get the best deals, Americans should plan to book flights for both holidays by October 14, according to Hopper.
‘The most important thing is for travelers to continue to think about planning now and booking in October,’ Hayley Berg, Hopper lead economist, told CNBC.
‘That window of low prices is brief, but it can really pay off.’
October is the sweet spot for booking holiday travel, according to a new report from Hopper
Prices for Thanksgiving trips will fall by around $40 on average until they hit a sweet spot in early October, according to Hopper.
At the same time last year, typical prices for a round-trip fell to around $250 – and 2024 costs are likely to be in line with this.
But travelers need to act fast, Hopper warned, as costs will be at their lowest through the first two weeks of October, before rising rapidly as the holiday approaches.
‘Prices will spike by 5 percent to 10 percent each day, or by as much as $30 per day, in the final two weeks before Thanksgiving as flights sell out and travelers scramble to book last minute trips,’ the report said.
Although Christmas is still more than three months away, Americans should also consider booking flights in the next month to get the best deal.
While Hopper recommends booking flights for both Thanksgiving and Christmas by October 14, travelers have a slightly longer window to secure cheaper tickets for December.
Prices for travel for Christmas will begin to drop in the next few weeks before reaching their lowest point between mid October and early November.
On average, prices should fall by about $80, aligning with 2023 levels of around $300 for a return trip.
In November, prices will start to rise quickly before skyrocketing by more than 32 percent in the last three to four weeks before the holiday.
Alongside making sure you nail down low prices, travelers should be aware that holiday flights often sell out on peak dates if you book too late, the report warned.
Hayley Berg, Hopper lead economist, said: ‘That window of low prices is brief, but it can really pay off’
In order to get the best deals on holiday travel, Americans should plan to book flights for Thanksgiving and Christmas by October 14, according to Hopper
But there is also a last-minute option for any travelers who miss the prime October window for booking.
So-called ‘Travel Tuesday’ – which is the Tuesday after Thanksgiving and Black Friday – could be a handy last resort, Berg told CNBC.
This year, Travel Tuesday – which includes deals on airfare, hotels and rental cars – falls on December 3.
‘You might get lucky and swing something last minute,’ Berg added.