'Tis the Season to Sell Your Home

The holidays are once again upon us.  This time every year I am asked by homeowners whether they should try to sell their home during the holiday season, or if they should wait until early spring to sell. I answer they should definitely contemplate putting their homes on the market now rather than later.

The industry measures the percentage of sales to the total number of new properties on the market - new properties being those that have been on the market for 30 days or less.  November and December have the highest amount of sales relative to the number of new homes that are listed on the market. What this means for the home seller is that if they list their home during November or December, they have a much greater potential for exposure within the first thirty days, than they do during the rest of the year. 

A large part of what contributes to this high rate of exposure is that there are fewer homes listed during November and December, resulting in fewer “new on the market” properties. In other words, there is not as much competition for sales, so homes have the potential to receive much more exposure than it would during the spring and summer months when there are significantly more homes on the market.  Some sellers think that their chances of a good sale will be better in the spring. But there's no guarantee that next year's market will be better than this year's.

Simply put, the percentage of home sales compared to the total number of new listings on the market, make the holiday season is a great time to sell your home.

Predictions on how next years sales will compare have been mixed. Opinions range from a relatively flat year as far as appreciation goes to a slightly slower market.  Much of this depends on the health of the economy overall and on the stability of interest rates. If rates go up then home sales will decrease. If you wait until next spring to bring your home back on the market, you'll surely face more competition and possibly a market that is softer.