A client posed this question to me last week, “Are homes more likely to be on sale during the holidays?”
There is no tried and true response to this question as the answers are as individual as the sellers and their personal motivation. If the seller has attempted for some time to sell and a good offer arrives during the holidays, it will most likely receive serious consideration. On the other hand, if the listing is not seasoned and a low offer is received during the holiday season it may not be looked upon with accepting eyes and actions. When a motivated seller receives a serious offer from a buyer ready, willing and able to perform is when a property is most likely to sell, and the season matters little.
When I work with end of the year buyers I encourage them to write a reasonable offer based on the location and condition of the property. In other words, establish the value based on those factors, not necessarily the asking price. Sometimes the two are very close and other times there is a gap that must be closed. Knowledge and negotiations are crucial in achieving an acceptable outcome whether the offer is written in May or December.
If a property owner must dispose of real estate before the end of the calendar year due to tax consequences their motivation will be high if the property is still on the market in November. This is the type of buying opportunity end of the year buyers love to find. Again, the motivation is personal on behalf of the seller rather than the overall real estate market.
The end of the year is a popular time for companies to transfer employees. I purchased a home in Rancho Palos Verdes while in town over the holidays on a house hunting trip. This is a strong reason for sellers to leave their home on the market over the holidays. Real estate sales slow over the holidays but they certainly do not come to a grinding halt.
– Norma 310.493.8333