Why List Your Home in November?
If you are considering selling your home or if you are already in the throes of getting it ready for marketing, you might want to get it listed now. Yes, now, in November. Or December. Why list in November or December?
Many sellers think that the holiday season is an off-peak time to sell. The idea that homes don't sell during November and December comes from outdated historical trends. In fact, several studies show that homes are more likely to sell, sell more quickly and closer to list price than homes listed earlier in the year. The month of November, in particular, has some unique advantages that make it an ideal time to sell.
|Fall photos in our North Georgia area typically depict homes beautifully.|
Most sellers list their homes in the first part of each calendar year. That is statistically when the bulk of listings hit the market. However, we are currently facing a housing inventory shortage in most price points not just in Hall County, but all over Northeast Georgia.
|Five year history of FMLS listing inventory shows Hall County has half the number of listings in latter part of 2016, compared to January 2011.|
Here are four reasons why November might be the best time to get your home on the market.
- Less competition - Winter months are less competitive for sellers since most people tend to wait until spring to list. A smaller inventory of active listings means more attention to the fewer listings on the market.
- New hires and corporate relocations - Many companies transfer employees or hire new ones early in the year, creating opportunities for winter sellers from very motivated purchasers. Northeast Georgia has a robust economy with a constant influx of new hires and relocating employees. My experience has seen most of this activity (as to closings) take place in December and January, which means the buyers began looking in November.
- Tax benefits - Year end tax benefits are a factor that influences buyers who are looking in November and closing in December. The points, interest and property taxes are typically tax deductible costs paid in a home purchase.
- Open views - If you are on or near the lake or you have a seasonal mountain view, having that view open up is a selling point that is hard to visualize when the leaves are full of summer foliage.
|Views that are covered up with summer foliage open up when the leaves fall.|