For a variety of reasons and motivations, this is a time of year when a lot of home sellers will consider putting their sale off until the New Year, maybe even temporarily withdrawing from the market altogether. There are often understandable circumstances behind this decision - everyone's getting busier, after all, and lots of people will most likely be visiting the house.
While the decision to take a break from being active in the market is one only you can make, I'd like to point out that there are some really compelling reasons why it is actually incredibly sensible to press on with your sale in the build-up to the holidays.
Statistics show that the market does weaken overall as Christmas approaches - see our graph below. Indeed it won't pick up significantly until the New Year is under way. All that said, it's equally incorrect that no-one will buy at as the end of year draws eve nearer. Even better, there's less competition in terms of the number of homes on the market in your area.
Buyers who are actively still looking for a home are among the most motivated that we see throughout the entire annual home buying cycle.
They have a range of contrasting incentives for wanting to close a sale. For some, there is a need to complete before year end for financial reasons. Others simply want to have their new home in time to host their relatives during the holidays.
The one thing all buyers seem to have in common as the end of the year comes into sight is strong determination to close in a very condensed timeframe.
Remember too that this year there is a huge extra incentive for buyers to close. The Fed housing market stimulus program is widely expected to end some time soon, maybe as early as the turn of the year, meaning that mortgage rates are likely to rise more steeply, in comparison to current rates, which are still not far off record low levels. This could also potentially make it more difficult for you to hold your current asking price. Waiting to enter the market could be expensive...
Another small but important point is that homes are often in their very best showing condition in November/December. Great smells from the kitchen and decorations help make your house look even more attractive to buyers.
My team and I will be working as hard as always to close sales, so contact us now to discuss the many merits of the winter homes market.