Well…it is that time of the year again. Thanksgiving is right around the corner and soon after, Christmas followed by New Years. This is a joyous time of the year to give thanks, celebrate family, and to remember the reason for the season. Soon after the holidays, local areas that Chincoteague Island and the Eastern Shore will be seeing it’s coldest temperatures of the year…and perhaps some snow. That is why most consider mid November until around the end of March the slowest time of the year for real estate sales.
But whereas the market may be slower…that is not to say that there is no activity during this time period. A few things to consider…
A home might be shown less frequent during the off season, as compared to the summer months, but during the off season, EVERY showing tends to be serious buyer. This is because potential buyers looking in the off season have visited the area primarily to look at property. This is compared to summer months when potential buyers split there time between not only viewing homes, but enjoying the beach, shopping, and seeing other sites in the area.
Another item that needs to be considered is the unpredictable weather on the Eastern Shore. A typical winter is an average temperature of 35 degrees (give or take) and only a random inch or so of snow here or there…which often melts in less than 24 hours. But some years have seen extreme cold with lots of snow, whereas, other years have seen warmer temperatures with little or no snow. So we as Realtors, as well as sellers, need to be prepared for both options. I, like most Realtors in this area, tend to get our Spring busy time in April and May. But I often refer to Winter 2013, which was a very warm winter. In that year the month of February was personally my busiest month for that entire year. That was completely unpredicted, but was clearly earlier than normal due to the warm weather.
So how does a current or future seller prepare for this unpredictability? Each situation is different. Some sellers say…I am going to list in April. Or I am going to take the house off the market from November until April. As a seller you need to understand that it could very well be April or May before you see increased activity and more showings, but you still need to be prepared for a warmer winter, like 2013, and should have your house on the market ready for buyers. If we do have a warmer winter…with lots of activity, by the time a house is put on the market in April…you may have missed those early bird buyers we tend to get each year. Especially 2017, which is expected to be an improving year with lots of activity.
So in summary, what do you do? For starters, you call me, your local Realtor. Each situation is different. But chances are waiting 4-5 months to call to get your house on the market may not be the best option for you. That is why Dockside Properties, and I, continue to advertise houses and promote our seller’s homes as much as any other time of the year. There is definitely a difference in the market during different times of the year. But with an improving market like ours, taking your home off the market during the off season or waiting until late Spring or Summer may not be the best action to take.
Give me a call at 757-894-1479 so we can evaluate your situation.
Also online at http://www.chincoteaguehomes.net