Selling in a festive market
DOES the market stop working the month that Santa does?
Each year owners (and agents) ask me what happens to the market during the Christmas period.
Most with the assumption that the market grinds to a halt.
Most are surprised when I share that December can be one of our biggest months of the year. And similarly January can be quite strong, but it comes with a catch.
The obvious reason the market keeps moving is the number of sellers who want to sell and buyers who want to buy before the end of the year.
The majority of sellers would love to see a sale recorded this year and if they don’t then that motivation will only build into January.
Also, the buyers who have been investing their Saturdays in driving the streets, handing over their personal details and inspecting open homes each week would prefer to take their weekends back!
There are three changes that people notice at this time of year.
The first is there is a drop off in new sellers who come to the market.
New buyer inquiries also see a decline and many of the professionals that support the industry, mainly agents and lawyers, take their annual leave.
However there is still a large amount of people who are pre-existing in the market who want to transact.
And while some agents and lawyers go away, many push through.
Most agents who have been around for a number of years will tell war stories of long negotiations that have occurred late into the wee hours of Christmas morning or right up to the countdown on New Year’s Eve.
In reality most buyers have more time for inspections over December and January.
And while stock levels are high there are sales to be made by the agents who decide to keep the foot to the floor.