The Common Myth-Understanding
If you are considering selling your within the next year, what are you waiting for? The myth that most people believe is that the 4th quarter is a bad time to sell. This no longer appears to be true.
In the 4th quarter of 2014 19.4% of the homes for sale in the antelope valley went into escrow, and the number of homes to close in the 4th quarter of 2014 was the equivalent to 19.6% of the available homes for sale in the antelope valley.
2015 saw a significant increase in both categories. 30.9% of the homes for sale went into escrow, and the number of homes to close was the equivalent of 31.9%. That is more than a 10% gain for each category year over year.
2016 also saw growth over the prior year in both categories. 35.5% of the homes for sale in the 4th quarter went into escrow, and the number of homes that sold in the 4th quarter was the equivalent of 35.7% of the available homes.
2017 is looking to show another significant growth. We only have the final numbers for October so far, but for October 45.3% of the homes for sale went into escrow, and the number of homes to close escrow in the antelope valley was equal to 44.6% of the homes for sale.
There Are No Seasons In The Internet
It is safe to say that nearly all buyers are now doing the majority of their home searches on the internet. This means that, from the comfort of their own homes, they can shop for their next home at any time of day, and regardless of weather conditions that would typically cause them to stay home and go shopping another day.
And with the top end marketing tools we use like the 3D virtual tours of homes, and aerial imagery, buyers typically are only viewing homes in person to get a feel for the neighborhood if they don’t already know it, see what their drive will be like to and from their most visited locations, and to make sure the house feels like it could be their home.
Homes On The Market During 4th Quarter Stand Out
There are a couple reasons why homes are more memorable for buyers during the 4th quarter. First, it is because the is much less competition for you as a seller and buyers are seeing fewer homes that meet their criteria. Secondly, with there being more national holidays celebrated during the 4th quarter than the rest of the year, homes are typically decorated for the season in addition to the normal furniture. This really helps buyers envision what their holiday celebrations can look like, and if the seller does an above average job, the buyers will become more emotionally attached to the home for what it could mean for their family during the holidays.
Applicable Reasons Why 4th Quarter Is A Good Time To Sell
Tax Benefits – many buyers are looking to take advantage of the perks of owning a home, such as write offs, to offset income tax for the year. Sellers also could see some tax benefits if they know of some large financial events that may be in their near future, and find that it would be advantageous to sell a property and take in the income this year, rather than next year in addition to another uncommon finical gain which would bump them into the next tax bracket.
Time Off Of Work – most people get additional vacation time, or paid time off during the 4th quarter than during the rest of the year. This allows more time for buyers to shop for homes, and it also gives sellers more time to be home and prepare for showings which in-turn makes the process less stressful.
Extremely Serious Buyers – The buyers that are in the market in the 4th quarter, who are willing to uproot and move during the holidays, are determined to buy a home as soon as possible. The window shoppers are no longer out dreaming of their next move, as they have other things to be shopping for during this season. And most importantly we are currently seeing a surge of relocation buyers coming into our market now for Lockheed and Northrop, and they typically only have 90 days of housing allowance before they need to either be in their new home, or start footing the bill for a rental or hotel room.
Ready To Take Advantage Of The Market?
If you feel like now may be a good time to sell your home, or at least start the planning process, feel free reach out to us below, or request a market evaluation for your home.