*this article first appeared in the December 2019 Midland Express
Many real estate agents close between the Christmas New Year period. It’s also a time of year where families are preoccupied with school holidays, Christmas celebrations and impending trips. Predictably, property sales start to slow down.
However, for the savvy property seller or buyer, there can be golden opportunities in the lead-up to Christmas. Many of buyers are picking up the pace of their property hunt because while most people are out celebrating and enjoying the festive season and not searching for property, the hunters have a greater opportunity to grab a bargain.
One of the advantages of buying in December is that some sellers might wish to wrap up a deal before the end of year. This might mean they are more open to offers, especially if you can move quickly and settle early. This can lead to a better price for the buyer and peace of mind for the seller moving into the new year. Another potential advantage for buyers is that there can be an opportunity to pick up residual stock, as other buyers drop out of the market.
By this point in the year, many buyers are likely to be experiencing buyer fatigue. They’ve likely been looking at property after property since at least spring and can become frustrated. This can work for or against the seller. Some buyers will end up withdrawing from the market, meaning there will be fewer potential buyers.
Many vendors are reluctant to compete with new stock that comes onto the market in the new year so the opportunity to sell before Christmas is another motivating factor.
There are more advantages then disadvantages for buyers and sellers during the December period, but the greatest opportunity lies in transitioning into a new year (and decade!) without the concerns that come with buying and selling
Richard Branson once said, “When you find yourself on the side of the majority, then you’re on the wrong side”. This is especially true of buying property at Christmas.
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