There are plenty of tales out there about why you should not sell at this time of year; mostly based on no evidence and with outdated reasons. In today’s market place selling in December is not a bad idea at all. The majority of vendors are like sheep, they follow the flock and are scared to do what other people are not doing. I understand this entirely, because they are selling what is likely to be their largest asset and this is a scary move. But by following the crowd they all list at the same time of year, along with hundreds of other properties and their home is lost in the crowd. The buyers are overwhelmed with choice and can afford to negotiate hard to get the price down, if you won’t drop another vendor will!
Less Competition and More Attention
In December, when considerably less properties come to market, buyer have less choice and you have less competition! Think about it, people still need to buy a home; for many vendors their house was sold last month, but now their buyer is really starting to get twitched and they are under pressure to secure an onward purchase, this can’t wait until 2018!
“Serious buyers have fewer homes to choose from over the holidays. That means less competition for you — and more buyers checking out your even more desirable home, either online or in person.” (Trulia, Forbes, 2014)
Time Off Work to Browse Rightmove
Peak click through rates are recorded during the Christmas period. A large portion of buyers are looking to make the move in the new year, for new jobs, to new areas, or due to other aspects of their lives. They’ve had a hectic year and finally they have some time off, this is the time when they can really hit the house hunt hard and start making a shortlist of suitable properties, making enquires, arranging their viewings and making offers!
Just look at the stats:
- Rightmove data shows a 20% increase in views between Christmas Eve and New Year’s Day
- 14 million-page views were recorded by the property portal on 25th of December last year
- Over 10,000 people taking time out from the festivities to send emails to agents
- On the 26th over 25-million-page views were recorded
- 1st of Jan – Over 38 million-page views were recorded
Better Agency Service
The agent has fewer properties on the market and more time on their hands, they can dedicate a lot more time to proactively promoting and selling your home. They can accommodate any viewings your applicants wish for and will really want that sale to meet their monthly targets!
For investors one the key factors will be ensuring they are not paying excessive amount of capital gains tax. To avoid this, they will need some losses to off-set their gains. As the year end approaches they will be keen to re-invest the proceeds made from sales earlier in the year.
So why wait until January?