School is well under way, the days are getting shorter and many Sellers are asking their Realtors if they should keep their homes on the market or if they should take them off and wait till Spring. As it is with all things in life, there are trade-off’s to both decisions.
Many sellers are wondering if the market will pick up and be any stronger next spring, and if I had a Crystal Ball, I’d be able to tell you…but I don’t. Neither does anyone else for that matter – not even those who are experts on the economy, financial markets, etc…
But I do know this:
The Twin Cities housing market picks up momentum after Labor Day and we see an increase in showing activity and sales until we get hit hard with our lovely Minnesota winters or the Holidays, whichever comes first. Once the Holidays hit, there’s an obvious slow-down in Buyer activity. That slow down continues until the weekend after the SuperBowl which is the “un-official” beginning of Spring Market.
So, many sellers think it’s best to take their homes off the market after Halloween – but if you do – you’re missing out on some not-so-obvious benefits:
1. Holiday Buyers: These Buyers are obviously not tire-kickers – they are serious about buying a home or they wouldn’t be wasting their time – and their Agent’s time – with looking at homes over the Holidays.
2. January is the month for transferees. Many Executives are relocating and need to begin their new position in January. These buyers tend to have more income and less time – hence – they’re likely to make a quicker decision and act with a greater sense of urgency (something our local buyers seem to be missing).
3. Reduced Inventory & Competition: Since many sellers take their homes off the market in November, there are fewer homes to compete against. Real Estate is based on Supply and Demand so less competition will only help Sellers in this challenging market.
4. Holiday Homes: Most homes really sparkle and shine in December. For Sellers that celebrate Christmas and decorate their homes with Christmas Trees, Wreaths, and Lights, their homes never look better. It sparks an emotion within most buyers and all the festive decorations can really show off a home and downplay any flaws.
5. Competition heats up again when spring market begins (typically mid-February or the first day you see someone driving around in a convertible or on a motorcycle) so the Holidays are a great time to Sell Your Home!
As always, if you have any questions or concerns, give us a call! We are always available to you!
Warm regards,
Sharla & Eric
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