Coming into the last couple of months of the year, the real estate market has a tendency to turn off a little as people prepare to wind down. In today’s day and age, things have shifted significantly and the misconception that people turn off from December to February is common amongst sellers. Though, over the years, we’ve found that the increase of activity throughout the summer months and especially leading to Christmas, has been quite strong and the owners that choose to take advantage of a pre-Christmas sale find that Santa comes into town in the way of a contract of sale.
Firstly, it is business all year round. Real estate is not seasonal as it once used to be and people accept transactions on every day of the year. The best part about end of year sales though, are the buyer’s mentality. Many buyers feel that the rush is on to secure a new home before the year is out. Whether they have literally been looking for a year or maybe only a couple of months, when we start pushing toward the close of a calendar year, buyers think more about having to sacrifice another year looking and can put pressure on themselves to secure a property beforehand.
The reason why results throughout this time can move north a little, is not only because of strong competition from external buyers, but the competition buyers have within themselves to beat the countdown. This means, for the sake of starting the new year fresh, they will pay more money than they initially budgeted for to have a means to an end.
If you’re thinking that waiting until mid-January or even February to sell is because you will get the best out of the market, I would suggest bringing your thoughts forward to now. The only thing that goes on break are Auction campaigns, but hey, the juries still out on whether auctions bring the best price or just the next best bid.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.