Selling your home during the Holidays–Good idea or bad?
I’ve recently been a part of some very good conversations, both in person and in some online blogs, regarding home sales during the holiday seasons. There are seemingly two camps in this discussion; those who say it’s a great time because you’re competing with fewer other homes, and those who say it’s a terrible time because there are no buyers.
One argument that was given online by another area real estate agent was that it’s a great time because so many people are taking their homes off the market. I wanted to take a look at that, and here are the numbers for Gig Harbor according to the NWMLS.
|
Months |
Listings Cancelled 2006 | Listings Cancelled 2007 |
| Jan-Mar | 46 | 74 |
| April-June | 59 | 83 |
| July-Sept | 88 | 117 |
| Oct-Dec | 82 | 135* |
*2007 Oct-Dec is projected (There have been 90 cancellations MTD)
Looking at these numbers, it’s tough for me to agree that the holidays have a significant impact on sellers cancelling their listings. In 2006, the summer months of July-Sept saw the largest number of cancellations. It is possible that the same will hold true for 2007.
So what about selling during the holidays? My thoughts are to sell when you need to sell. There are ALWAYS buyers looking for homes. You never know when the buyer who is looking for your home will come by. If having your home on the market during the holidays doesn’t pose a major inconvenience to you and your family, I say stick it out. Do you gain an advantage over those who cancel? Only in the sense that your home is for sale and theirs isn’t.
There are certainly some real trends in terms of “hot” and “cold” times to sell, but the numbers will tell you that homes sell at any time of year. Looking at this chart of home sales in Gig Harbor, you can see that there is clearly a drop off of sales in the winter months.
|
Months |
Home Sales 2006 | Home Sales 2007 |
|
Jan-Mar |
145 | 146 |
|
April-June |
247 | 220 |
|
July-Sept |
214 | 186 |
|
Oct-Dec |
159 | 93* |
*Projected number: Currently 62 homes have sold MTD
As I said, sell when it’s convenient for you. A good realtor will price your home correctly and market your home appropriately at any time of year and get your home sold!
