Should you keep your home on the market during the holidays?

This time of year, home sellers typically ask us if they should keep their home on the market during the holidays, or if they should take it off the market and put it back on after the first of the year.

According to our MLS, in New Tampa there are 689 single family homes listed for sale. For the entire month of October, our MLS system reflects 39 single family homes sold in New Tampa. Similarly, Wesley Chapel, currently has 817 single family homes on the market, with 58 sold in the month of October. Of course, these stats do not include all the new homes for sale with builders, or FSBO's (For Sale By Owners), etc.

So, clearly the statistics are pretty grim, even when it isn't the holiday season. This is what I say to sellers. "The competition is fierce because inventories are extremely high. During the holiday period, we typically see a decline in the number of homes that go under contract, BUT the Buyers who are out there, and looking are usually pretty motivated."

Taking your home off the market has no advantages in terms of freshness to Buyers, in my opinion. Now, with our MLS system, if a home is taken off the market for a short period of time, and then goes back on, we realtors see something referred to as CDOM (Consecutive Days On The Market). So, we automatically know that the home has been on the market a while. A new listing doesn't "reset the odometer" on a home that has been on the market. Not too long ago, if a home was taken off the market in the multiple listing system and then re-entered, we did not have the visibility of CDOM. We now do.

My recommendation is to keep your home on the market during the holidays. In this market sellers need EVERY showing that they can get! NEVER turn down a request for a showing! It only takes ONE buyer, and the showing you don't allow could be THAT buyer for your home.