How late in the year is too late to list?
The Property Owner’s Conundrum
Every year we face the constant query from prospective sellers asking this question. Vendors are conscious of leaving their run too late and being left sitting on the market with no buyers in sight.
The answer to this question is dependant on 2 factors;
- The market climate and
- Supply and demand
If the market is buoyant and buyer confidence is strong, you are in a good position to list in December otherwise known as “Silly Season”. Similarly, if buyer demand exceeds supply, this also puts you, as a seller in good stead to take advantage of the current conditions by listing pre-christmas rather than post. Alternatively, if the market is weak and market demand is poor, holding off would be advisable. There will always be a certain degree of risk and uncertainty.
Often it can be a bigger risk, putting off your sale to the next year. At present, for example, our market in the local area is extremely strong, with an average turn around time of 2 weeks. Sometimes we head off for Christmas break experiencing a hot market and return in mid January to a supressed market.
We know from experience, that post Christmas, for at least 2 weeks, the market is fairly dormant. The market is reduced dramatically, with most people signing off for the year. The only buyers you’re left with are those who’ve sold and motivated to buy.
In summary, you need to ascertain from your selling agent, what is the probability of the property selling prior to Christmas. If it is weak, I would be listing mid to late January when you have 90-100% market to appeal to.
Good Luck with your decision making and have a Safe & Merry Christmas from the team at KCRE.