Is December a Good Time to Sell Your Home?

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Filed under: Market Comentary

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Every year during this time, we hear about the same topic from homeowners: is it a good month to buy or sell? Or, should I wait until the new year?

Volumes tend to nosedive in December when it comes to real estate transactions. Is that what will happen again this year? We see volumes dip during this time, which makes sense because everyone is thinking about the holidays – not selling their homes.

Both Parties are Motivated

When you have a buyer and seller this time of year, both parties are pretty motivated. Then, you add in the craziness of 2020, and you have what may be a great time to sell. If you are considering it, now’s the time to act. You can sell your home quickly, then move after the holidays. At this point, it’s not likely that the transaction will be complete before the end of the year.

December offers opportunities for both sellers and buyers. On the buyer’s side, the rates are so good! It’s a great time to look at your options. On the seller’s side, inventory is low, which means that you can find a buyer quickly.

Median Income is Increasing

We saw numbers earlier this week that indicated how median income is up by about 15%. Barry Habib looked at it a little closer, and he showed that this data is a bit misleading. Remember that median means that 50% of the houses sold for more, and 50% sold for less. What it doesn’t show is that the higher end of the market has been pretty lively – which can pull up the median.

Even though home prices are higher, it looks like we are still more affordable because of the drop in the interest rates that offsets the increasing price points.

December is a Great Time to Buy or Sell

Should you sell in December? This year, there are tons of buyers interested in the market. If you are willing to ride it out through the holidays, it could be an amazing time to get a good price for your house.

If you are a buyer, it could also be a good opportunity because some of your competition might be on the sidelines for the season.

I’m always here to answer questions if you need information. Reach out any time!

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