We are a week out from Christmas and like most Winter markets, activity has eased compared to fall — fewer buyers are actively looking, and fewer sellers are listing as the holidays take precedence. This is a normal year-end trend across local markets. I just ran the listing count this morning and we have about 35% fewer listings on the market as compared to the Spring and Summer – also what we expect at this time of year.
Through late December and into early January, real estate activity typically drops off. Many potential buyers pause their search for the holidays, and sellers often hold off on new listings until January/February. This means …
- Fewer transactions will close. There simply won’t be as many offers or accepted deals.
- Price movement tends to be muted. Without competitive pressure, prices stay relatively steady rather than moving sharply up or down.
- Negotiation Opportunities for Serious Buyers. With fewer buyers in the market and some sellers who do want to close before year’s end or even January, motivated buyers may find opportunities to negotiate — especially if properties have been on the market through the fall.
But, the slower Pace Doesn’t Mean Weak Demand Long-Term. Winter slowdowns are a normal seasonal pattern. While sales volumes dip, there’s typically a rebound in February or March as activity picks up toward the spring market.
The number of sold properties is down from the peak market but it’s not bottomed out. Buyers are still out there but they are cautious and the lenders are also cautious. I’ve recently worked through a few deals that took multiple extensions so that the bank could get comfortable with the buyers but perseverance paid off and they are moving in before Christmas.
I can’t tell you how much it means to me that you have placed your confidence in us to market your property. We know that there are many choices and we don’t take it lightly that you’ve stuck it through with us.
We wish you and your family a beautiful holiday season. Whether you’re enjoying it at home, traveling, spending time with family and friends…wherever you are, may you find joy.
Warm wishes
Martin & Andrea
