Once Halloween hits, many sellers will wait until the following year to sell because they think, why list in November and December when the holidays are in full swing? What may be surprising is that our winter sellers do almost better than our spring/summer sellers.
To follow up on my last video and post about misleading real estate news, I wanted to crush another myth out there about listing your home in the winter months. The data is compelling, and if you need to sell, the winter market may be hotter than the spring and summer markets for sellers.
Here’s why you shouldn’t write off the winter months if you are planning to sell.
- Buyers are looking for homes year-round. Buyers do not take time off for the holidays. The ratio of buyers to sellers stays relatively constant throughout the year.
- Decembers have more buyers than sellers. What’s interesting is for the last twenty years, most Decembers had a better ratio of buyers to sellers than in our peak July months. The twenty-year average of buyers to every seller came to 0.54 buyers in December to 0.48 buyers in July. But last year blew this average out of the water!
We saw this most dramatically last December where there was double the number of buyers than sellers.
What Buyers Can Expect this November and December
For this December, I expect we will have fewer listings than this summer, therefore increasing the demand from buyers. Buyers have had a little breather these last couple of months with less competition however that competition may intensify come November and December.
As always, be ready to see that new listing, have your financing in order, and work with me to understand the circumstances of each seller and listing so you can submit a winning offer.
What Sellers Can Expect this November and December
Sellers shouldn’t automatically write off the winter months if thinking about listing and selling. Some properties, of course, would benefit from a spring and summer list date. For example, waterfront properties or spring-blooming yards may be in their best light in the spring and summer months. The downside is there will be more competition with other sellers who are doing the same.
Timing the market is nearly impossible but it is a myth that real estate stops in November and December.
So if you’re thinking you should wait until the spring to sell, just know that the winter market has been just as robust if not more than the summer.
Call me and let’s chat about your situation and determine the best timing and strategy for you.