Buy Thanksgiving Flights Before Labor Day, Experts Say

PHOTO: Labor Day falls on Monday, Sept. 1, 2014.Getty Images
Labor Day falls on Monday, Sept. 1, 2014.

It's not yet Labor Day, but the time to buy Thanksgiving weekend flights is right now.

It makes sense, from a psychological stand point. Summer isn't over yet, and the majority of travelers' thoughts are concentrated on a last-minute beach getaway, not getting home for turkey dinner.

But this isn't guess work. Travel web site Hipmunk has the data to back up the claim that waiting past this week to book for Thanksgiving will mean paying more. Those who buy before Labor day will save $140 on average as compared to those who wait until the last minute.

Average flight price for Thanksgiving travel booked this week is $424. Those who wait a few weeks and book the last week in September will pay 5 percent more. Won't be sure of your plans until late October? Prepare to pay a 17 percent mark up.

If you wait until the last minute hoping to score a deal, you'll pay big: $561 on average, or a 32 percent increase over what you would pay for the same flight booked this week.

Skyscanner, a global travel search engine, concurs. Their data suggests that flight prices for Thanksgiving have dropped 8.3 percent this week and are at the lowest right now.