What to expect when buying or selling during the holiday season
Searching for a home to buy in 2021 has been a challenge for many given the limited inventory and scarcity of available homes for sale here in the Waxhaw and south Charlotte area. Combine our limited inventory woes with the Holiday season and we’ve got a recipe for the lowest inventory levels of the year.
November and December are traditionally the slowest months with respect to sales in our Real Estate market. Typically, in Waxhaw during any given month we have between 400 and 500 active listings across all price points. In 2020 we began to see those numbers trending closer to 300 thanks to COVID and an increased influx of relocation buyers moving to our area. In 2021 those numbers have dropped even lower with only April and May averaging over 300 active listings.
As we enter into the Holiday season of 2021 we’re likely to have the lowest housing inventory we’ve experienced in the last 6 years. In December of 2020 we averaged 251 listings in Waxhaw, down from 312 in November of 2020. This year we averaged 243 listings in the month of November which is down 23% percent from 2020. It can be calculated that in December 2021 we are likely to see less than 200 active listings on market for the entire month. This would result in the lowest average active listing inventory for the last 6 years!
It’s important to understand that these numbers are historically low and are an indicator of what we will be experiencing in our housing market for the remainder of the season and into first quarter of 2022. Finding a home over the holidays is always difficult and this year it doesn’t appear that it’s going to be any different.
If you’re looking to make a move in the near future, whether you’re a buyer or a seller, you need to consider all of your options and the condition of the market. For obvious reasons November and December are not ideal times for buying or selling a home, but sometimes it can bring together some of the best transactions between a buyer and seller. If you find yourself in the market for a home over the holiday season you want to consider being as flexible as possible with closing and taking possession of your home. The flexibility can be a key criteria for a seller that’s considering multiple offers or trying to decide the best offer to plan their move.
As a seller, you’ll want to consider the impact on yourself and your family trying to move this time of year. If you find yourself in the position where you need to sell, whether it be for financial reasons or a job relocation, you’ll want to carefully plan out your showing schedule and marketing plan with your Realtor. Knowing that most people still want to see a home before they buy it, you’ll want to plan ample time to allow for buyers to have access. Also, because of holiday travel and the general business of this time of year you’ll want to make sure your realtor will be available to assist with showings if needed.
If you’re considering buying or a selling a home in the Waxhaw area and would like to learn more about the process, please don’t hesitate to call us at Briggs American Homes at (980) 250-2795. We would love to help you and your family with all of your real estate needs!
Happy Holidays from the Briggs American Homes Team at Keller Williams Ballantyne Area!
Matt Lawson, MBA is the Owner and Broker in Charge of Briggs American Homes, a real estate team at Keller Williams Ballantyne area. Matt lives and operates his business right here in Waxhaw, NC and is passionate about all things Real Estate.