Market Conditions in 55376>Question Details

Schaupp, Home Seller in 55376

Could the holidays account for no showings on our house?

Asked by Schaupp, 55376 Thu Dec 27, 2007

We have had our house on the market for 1 month and haven't had a single showing. It is my understanding that our house is priced to sell. Should we be concerned now, or is it possible that the slow response is due to the holidays?

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According to the stats Edina Realty has for MLS distric 341, which is all of Wright County excluding Buffalo, there have been approximately 250 showings on Edina Realty listings for December. December is historically the slowest month for activity. For comparison, in January 2007 there were approximately 420 showings in the same area.

Albertville/St. Michael area is suffering from a huge glut of inventory and some segments of the market there have 18+ months of inventory! I would look to see what kind of web activity your listing has been getting and keep up hope for a couple more weeks but if by the 15th of January you haven't seen something you really need to go back and re-evaluate your strategy and competition.

This is not intended as a solicitation.
Web Reference:
1 vote Thank Flag Link Thu Dec 27, 2007
You didn't mention what discussions you have had with your Realtor. He/she will have the best feel for what is going on in your part of the world. Here in Houston, we are coming off a very busy December, as some of our buyers wanted to be closed for the new year. Real estate is local. Consult your Realtor.
Web Reference:
1 vote Thank Flag Link Thu Dec 27, 2007
We just got our first showing scheduled for this weekend since the start of November. The scheduling service called us at 8:30 PM .. and apologized for calling us so late but they have been working overtime catching up with calls - there was a flood of calls for showings this weekend! Hope this extends out to you Schaupp!
1 vote Thank Flag Link Thu Dec 27, 2007
Many great points are listed below, and in short, yes, it could be the time of year. However, one thing I have seen a lot of recently is listings that have been priced just a little high to start (in an effort to try it at a higher price) and no results, so the home is then reduced, but in the meantime the home has become slightly market worn, and the Seller has to reduce again to get some action. This is called "chasing the market". Be sure you are priced! Homes that are priced right, and show well, do sell!

Web Reference:
1 vote Thank Flag Link Thu Dec 27, 2007
Yes, December is the slowest time for real estate so that could be the problem. It is frustrating not getting any showings but give it a few more weeks before getting too concerned. If nothing happens then you'll have to look at pricing, marketing and staging to determine why no one is looking at your home.
Michael Doyle
1 vote Thank Flag Link Thu Dec 27, 2007
Holidays are always culprits that drive showings down. The current market has more to do with it though, most properties have very few showings in this market. The winter time is typically a slow time as well. All of those things coupled together are probably why you are not seeing a lot of visitors.
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1 vote Thank Flag Link Thu Dec 27, 2007
I tell my clients who wonder about having their home on the market during the slower sales months of November, December and January that they will see fewer showings, but that there is less competition from competitive sellers during those months. In any case, buyers who are out slogging through the cold and snow during those months are SERIOUS about buying a home. If you are a seller, welcome them with a well preped and staged home -- you just might make the sale! One thing is certain, your home is unlikely to sell if it is not on the market. In this challenging market, it takes patience, persistence and a good marketing plan to succeed.

Best wishes.
0 votes Thank Flag Link Fri Jun 13, 2008
The answers below are true. December is the slowest month, sometimes the house is priced to high, etc. Many people take their houses off the market in December. I believe that you should keep it on. There is less competition. Realtors are now being advised to price a home according to the other "actives" on the market as opposed to "solds". Has your Realtor done a recent comparative market analysis for you? Things change quickly, so it's a good idea. Keep the faith!
0 votes Thank Flag Link Fri Dec 28, 2007
We are still in the midst of the fallout from the subprime situation, and the newspapers are not sending "buying signals" (although I feel it is a great time to be a buyer). No matter where your house for sale is located, the holiday period (Thanksgiving to New Years's) is typically slower than at other times of the year. People are focused on "getting through" the holidays, shopping, and are generally not thinking as much about buying a new home. That being said, you can be sure that the Buyers who look during this time are very serious. Remember, it only takes one serious buyer to bring about a sale of your home. In the worst weather, the ones who are out there looking are serious! People might also be putting off their new home search until after the new year. At that time, job changes might be more clear, end-of-year performance reviews are completed, and people feel more secure. In some places, the "spring market" may begin in the dead of the winter months. This all depends on where in the country houses are located. I would also suggest that many home sales are driven by the school year and buyers with children in school are less likely to move during the middle of the school year. This does not apply, however, to those who are relocating, due to job or personal life changes.
(Frank Ledermann/ Associate Broker with Houlihan Lawrence in Scarsdale, NY (914) 261-8888
0 votes Thank Flag Link Thu Dec 27, 2007
Schaupp - hopefully it's the holidays - we haven't had a showing since Nov 10 !!! We have high hopes for our realtors in January...
0 votes Thank Flag Link Thu Dec 27, 2007
Holidays have been busy this year and a fresh onslaught of snow, people waiting for 2008 for the market to change, Keep the faith and price accordingly.
0 votes Thank Flag Link Thu Dec 27, 2007
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