Saturday, October 24, 2015

Should We Take Our House Off the Market for the Holidays?

Should we take our property off the market for the holidays? Is one of the most common questions my Sellers are asking right now. The short answer is: "It depends".  Here are the four questions your realtor should examine with you in determining the right strategy in the coming months.

1.  How is the level of sales activity during a holiday period, based on history?  If you live in Greenwich, CT., the answer is "Typically, low."  The Spring Market is our strongest selling season, followed by the Fall.   However, your local market may have a different pattern of seasonality in sales, be sure that you understand it.

2.  How are sales in your price segment?  If you live in Greenwich, CT, 72% of sales Year To Date have been below $3 Million.  This segment is strong.  So if your property is priced in this price range, you may not want to lose buyers that are actively in the market.

3.  How long has your property been in the market?  If it's well over the average days on market, taking it off for the holidays is a consideration.  Use the time to examine what can be done to improve any and all aspects of your marketing plan so that when you return it's not the "same old, same old" listing.

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