I am reminded by my four year old daughter every day that Santa is coming. The holidays often signal a slowing in the real estate market as buyers and sellers focus on time off and family gathering instead of buying or selling homes. It is not uncommon for the market to see this “seasonal slowdown” as early as late October. Each year is a bit different depending on supply and demand, interest rates and consumer confidence.
For the first time in my seven year real estate career, I find myself wondering when I will be able to do my Christmas shopping.
The market has naturally slowed after a fantastic fall but I am seeing more activity than I have ever seen in the month of December. It is often a struggle to book buyer’s tours this time of year as sellers begin to remove their properties from the market with the intention to re-list in the New Year. However, this year the struggle is in finding properties that have not yet sold. Merry buyers that are used to taking their time to shop during the historically sluggish December market are seeing multiple offers and properties being swept up before they have a chance to view them.
Dale and I have already written four deals in month of December and we are only mid-month. We both are busy evaluating properties for the New Year and showing properties to motivated clients who would like to purchase this month if at all possible, but with inventory on the decline due to the many sales and sellers waiting for 2014, many buyers feel as if time is running out.
As my daughter whispers, “Daddy, Santa is coming!”, many sellers are screaming from their roof tops that Santa has come early this year because of their timely sales.