March 28, 2024 Breaking News, Latest News, and Videos

Are Holidays A Good Time To Sell Your Home?:

Is it a correct observation or a misconception that it is a disadvantage to list your home for sale during the holiday period? Conventional belief has generally been that November-December is the worst time of the year to have a home on the market. 

The reasons for this thinking are that people go on vacation, holidays distract attention, bad weather may inhibit some buyers, and many real estate agents discourage home sellers from winter listings.

A long-standing practice of real estate professionals is to take homes off the market before Thanksgiving in order to “refresh” the listing for the New Year, and then relisting it in the spring. 

Agents may also tell homeowners who are thinking of putting their home on the market to wait until March, since more homes sell better at that time of the year.

The fact is if someone wants to sell their home, there are a number of reasons and advantages to putting it on the market during the end of year/winter season. More than 90 percent of home buyers do their initial searching online, and mostly do so in the evenings. 

Even if they are out of town visiting relatives, they have internet access. A growing number of home seekers are far more mobile, and are looking for homes more frequently as relocation for professional reasons is imperative.

People who are searching online can only look at the current inventory available.  These buyers will choose from the homes that are actively listed at they time they are in the market to buy. Therefore, those that are not listed will miss consideration.

There may be fewer showings during November-December than many other times of the year.

However, potential buyers who are looking at homes then may be more motivated and serious about buying and some buyers will actually have more time to look at homes during the holiday period. Because they have fewer homes to select from with the lower inventory level, any seller whose home is on the market will have less competition.

To validate the suggestion that the end of year period is really an advantageous time to be on the market, a review of the holiday season home sales in 2013 provides substantial evidence that this is true.

Using Santa Monica as the marketplace to analyze this, an average of 11 new escrows were opened each of the two winter months in 2013, versus 21 per month average the preceding ten months.

Further analysis revealed that 40 percent of the winter-contracts were put on the market and entered escrow between November 1 and January 1, and involved multiple offers. Having reviewed my own sales record, I have found that in 15 of the last 19 years I have had transactions begin during that holiday period.

Though it may seem counter intuitive, it well may be that the end of the year/winter season is an excellent time to be in the market place.

For the past 28 years Michael Edlen has tracked local statistics and trends, and has provided real estate counseling services to thousands of prospective buyers and sellers. More tips and information are available at MichaelEdlen.com. He can be reached at 310.230.7373 or michael@michaeledlen.com.

in News
Related Posts

 (Video) Philz Coffee Set to Close Westside Location Next Month

March 27, 2024

March 27, 2024

The Franchise Recently Made Headlines for Changing Headquarters @smmirrornews Philz is closing its Santa Monica shop #coffeeaddict #coffee #coffeeshop #losangeles...

Fleurs et Sel Bakery Opens Storefront in West Adams, Welcomes Customers Three Days a Week

March 27, 2024

March 27, 2024

Indulge in Freshly Baked Cookies at the New West Adams Location Fleurs et Sel Bakery, known for its delectable cookies...

Easter Specials Guide: Brunch Spots, Desserts, and More in West Los Angeles

March 27, 2024

March 27, 2024

Discover the Best Easter Eats and Treats in LA for Your Holiday Celebration Easter is almost here, so here are...

Famous Literary Critic and Palisadian Passes Away at 92

March 27, 2024

March 27, 2024

A Memoriam Post Stated She Overturned Views on T. S. Eliot, Ezra Pound and Other Canonized Artists By Zach Armstrong...

Mixed-Use Development Set for Sloping Property along Chautauqua Boulevard

March 27, 2024

March 27, 2024

“Canyon Place” Is Set to Include Two Apartment Units and 1,415 Sq. Ft. of Office Space By Zach Armstrong A...

Over Five Miles of Venice Blvd. to Temporarily Close, Become Public Park in April

March 27, 2024

March 27, 2024

The Initiative, Which Started in 2010, Aims to Connect Communities and Promote Sustainable Transportation Options On Sunday, April 21 from...

(Video) Workers Strike at Luxury Hotel in Downtown Santa Monica

March 27, 2024

March 27, 2024

Meanwhile, Unite Here Local 11 Recently Announced a Contract Was Ratified at 34 Hotels @smmirrornews Workers are striking at Proper...

(Video) Director Adam Wingard Talks About His Influences While Making GODZILLA X KONG: THE NEW EMPIRE

March 27, 2024

March 27, 2024

Director Adam Wingard Talks About His Influences While Making GODZILLA X KONG: THE NEW EMPIRE at the Beyond Fest Screening...

Historic Union Contract Ratified by Thousands of Hotel Workers At 34 Hotels

March 26, 2024

March 26, 2024

UNITE HERE Local 11 Negotiates Agreement Ensuring Wage Increases  Hotel workers, who spearheaded the largest hotel strike in modern U.S....

Teen Kung Fu Coming to Pali Rec Center

March 26, 2024

March 26, 2024

This 8-week session, priced at $160, commences in April 2024 Palisades Recreation Center introduces Teen Kung Fu classes, fostering a...

After Securing $200K Grant, City Embarks on Action Plan for Older Adults, People with Disabilities and Caregivers

March 25, 2024

March 25, 2024

The City Will Engage Experts, Nonprofit Partners, Commissioners, and Stakeholders to Spearhead the Planning Process The city of Santa Monica...

City Commences Phase 2 of Beach Restoration Project

March 25, 2024

March 25, 2024

The Project Will Enlarge the Habitat for Significant Native Species, Including the Federally Threatened Western Snowy Plover Phase 2 of...

Caltrans Extends Closure on Topanga Canyon Boulevard Due to Mud and Rockslide

March 25, 2024

March 25, 2024

PCH Closure on March 26 Adds to Local Road Closures, Seek Alternative Routes The California Department of Transportation (Caltrans) has...

Animal Rights Groups Demand an End to Turtle Racing at Brennan’s Pub

March 25, 2024

March 25, 2024

The Organization Says Its Tried to Contact the Westside Bar for Months By Zach Armstrong Among its numerous entertainment events...

SMC Unveils Spring 2024 Issue of Acclaimed Literary Journal, Author Readings Coming in April

March 24, 2024

March 24, 2024

The Issue Presents a Mix of New, Returning, and Debut Writers, Reflecting Diversity and Enduring Relationships Santa Monica College announced...