The festive season is beckoning, so what does that mean for those looking to sell their property?
Typically, we see a flurry of activity in Spring as people rush to buy and sell in time for Christmas, followed by a steady drop off in mid to late December. But if the past couple of years has taught us ANYTHING… it’s that nothing is predictable.
While 10 years ago we would have told you to hold off selling during Christmas, we think it’s safe to say, don’t discount this time completely – many buyers missed out on homes in Spring and will still very much be property hunting throughout the silly season.
Thinking of selling this Christmas? We look at some advantages and disadvantages of doing so.
- Buyer competition - Listings tend to drop off during this time which actually gives sellers an opportunity – one to stand out! People always need to buy, not matter the time of the year and if there is less stock on the market, you might find buyers competing for your property, driving the price up.
- Genuine buyers - Buyers who are looking for properties during the holidays are usually serious about purchasing something, and this could lead to a faster sale – think about the families racing to get into a catchment area for school!
- Christmas is also a naturally festive and joyful time. It falls during the first month of summer, which provides a bright, cheerful and sunny setting for the home.
- One of the obvious disadvantages of selling property over Christmas is that this is a time when many people go on holidays – but consider this, less is more – 2 genuine buyers is better than 30 “fence sitters”.
- Buyers are likely to be experiencing buyer fatigue. Some buyers will end up withdrawing from the market, meaning there will be fewer potential buyers.
- Holidays can mean buyers wanting to negotiate a longer settlement to accommodate the Christmas period and with so many business closures the process could take a few weeks longer than normal.
From Administration, Marketing, Property Management and Sales to Executive Management – our team have been working hard to reach the real estate goals of our clients and will be going on a well-deserved break. Our offices will close Friday 23rd December 2022 and re-open Tuesday 3rd January 2023. A small team will be working through the break however, if you do require assistance.
We wish you all a very Merry Christmas and a fantastic New Year!