Many of us have heard that it’s not a good idea to try and sell your home during the holidays, and in fact, at some point have probably been discouraged to sell your home during this time by a real estate agent. Well, I’m going to let you in on a little secret. This myth has way more to do with the fact that most agents don’t want to work during the holidays. Now I totally sympathize! The last thing I want to do is work when I could be hanging out with family and friends or stuffing my face, but this may not be the best answer for selling your home.
While listing a home during the holidays may not be ideal in some markets, this is not the case for Las Vegas. In fact, December is probably one of the best times to sell your home. Now many of you are probably thinking, “Laura, come on now. You’re crazy!”, but I’m not. I swear!
Listing your home November through December has some surprising benefits that you may not have thought about. I’m going to cover some of my favorites here.
1. Less Competition:
There’s actually less competition for buyers to choose from because so many people decide not to list their house during the holiday season.
2. December Buyers Mean Business:
People hunting for a house during the holidays are serious buyers and are motivated to make offers and move.
3. Get Your Loan Faster:
Lenders can potentially process loans faster since they are dealing with less volume and have more time to dedicate to your loan. In addition, mortgage money is more readily available.
4. Out-of-Town Buyers:
There are many out of town visitors and snow birds that are in the area visiting family or looking to get away from the snow. These potential buyers are only in town a limited time of the year and can be looking to make a purchase now.
Many companies look to relocate their employees prior to the New Year.
Still not good enough for you? Well, what if I showed you some numbers, proving that listing your home during the holidays was more likely to result in the sale of your home?
Coldwell banker runs a report every year to debunk the myth that you shouldn’t try and sell your home during the holidays, and I’ve got the inside scoop. Sell all the numbers here.
Year over year the number of homes listed for sale in November and December drops pretty significantly in comparison to the rest of the year (a little over 30%). This is to be excepted since most people have it in their head that they should not list their home during the holidays. However, what is not excepted is that the volume of sales made in November and December remains almost the same as they were throughout the year. This means that in November and December inventory drops and the number of homes that are available for an interested buyer goes down significantly. This is extremely good news for those whole have their homes listed as it means higher exposure and less competition.
Now, if that's all you need to hear and you're ready to list your home, then great! Contact us now! But if you're more like me, you want hard evidence, so I’m going to use numbers from November and December 2016 to get a little more specific for my ultra-analytical folks.
Listings vs. Sales 1-Year Comparison
In November and December 2016, 5,034 homes were listed and 5,323 were sold. Yes, you’re seeing that correctly. The number of homes sold was greater than the number listed! On top of that, in January, the number of listings taken jumps to 3,603 (1,362 more than December) and the amount sold drops to 2,149 (571 less than December).
The average ratio between listings taken and listing sold over the past year is, on average, 82%. This means that of listings taken, 82% are sold. Well in the months of November and December, that amount jumps to 106%. This means that there’s a 24% greater chance of selling your home during the holidays than any other time of the year!
I don’t know about you, but that’s reason enough for me to want to list my home during the holidays.