The holidays are here and bottles of champagne are popping! With all the hustle and bustle, it’s traditionally not known for being a hot time for real estate. However, it is the season of miracles, so if buying or selling a home is on your “wishlist,” there’s a lot to be learned from the past that affect the present and future.
The Past
In Newport Beach, there were 58 home sales in December of 2015 and 69 home sales in December 2014. Each year there has also always been a noticeable plummet in the number of homes listed in the month of December.
In Newport Coast, there were 18 home sales in December 2015 and 12 sales in December 2014. Again, the number of new homes listed for sale declined in the month of December.
In Corona Del Mar there were 22 home sales in December 2015 and 15 sales in December 2014. December was the month when the least amount of homes were put on the market for the year.
Laguna Beach is no exception to this trend. The fewest homes were listed in December, but home sales did still take place. There were 31 homes sold in both December 2015 and December 2014.
Since homes do sell at the holidays, this is a good time for homes that have been on the market to get more interest; it’s simply the rule of supply and demand in effect. For those who are looking for homes, this is a good time to not feel pressured since less people look for homes at the holiday as well.
The Present
Buyers have plenty of options if they want to find a home for the holidays. As of Nov. 29, there are approximately 300 active listings in the Multiple Listing Service in Newport Beach, 110 homes in Newport Coast, 90 homes in Corona Del Mar, and 200 homes in Laguna Beach.
The Future
It’s likely that several home sales will be completed in December. Looking at the number of homes under contract and in pending status, we’re sure to see quite a few homes transfer hands this month. As for new listings to look forward to, if the past is any indication of what the future holds, there will not be a ton of new inventory to check out. However there is good news – if you want to find a new home for the holidays, there’s still time to do so! And, if you’re dreaming of a home sale this holiday season, be prepared to make your home available for showings. Remember, the more eyes, the closer to the prize! A final tip for sellers, it’s a good idea to be tasteful if you decorate for the holidays. This is not the time to dress your home up like the set of National Lampoon’s Christmas Vacation. First sell your home, then look to the future for that!
By Holly Schwartz
Holly Schwartz is a realtor with Villa Real Estate who lives in Eastside Costa Mesa and has been featured on HGTV’s House Hunters. She can be reached at HSchwartz@VillaRealEstate.com.
