Thursday, December 04, 2008

Does anyone really buy property in December?


Many people think that real estate just stops functioning in December. Now if we were located in a part of the country where there was 2,3 or 12 ft of snow it would stop because who really wants people covered in snow going through their home. Maybe only the most serious of sellers but for the most part people in the parts of the country where there is some real weather things tend to stop. For those on the West Coast and especially in Southern California things keep on moving in December.

So just how much activity is going to happen in December? Well we are about to find out. While we don't have any data for this December yet it always pays to study a little history to find out what things might be like. Now we don't want to go back to 2006 because that was a different market then it is today. 2007 was somewhat similar so let's check out what the past from last year and the past several months might tell us as well.


So we have a 0 so far for December (we always report those at the end of the month) but let's see how the other months have fared. We can see that November sales this year were actually better than last years sales. In fact both October and November Sales for 2008 were better than 2007. This might seem surprising to some but if you look at what is available there are some very real opportunities to become a home owner and some to become a real estate investor depending on your criteria.

What does this mean for December 2008?

If the history (although recent) holds true for 2008 it looks like we can expect sales of at least 173 sold properties and potentially even more. So how do you take advantage of this if you are a buyer? Check out the free MLS and see what kind of properties interest you. There are some very real opportunities out there and if you have been looking for a condo, home, or investment property this could very well be your time.

What if you are a seller?

If you are a seller you have to know there are people out there looking. Make sure your home is priced VERY competitively and that you have done everything you and your agent talked about. Sometimes just discussing with your agent what can be done will uncover a great idea that you haven't thought of. It isn't always price (although that is the biggest factor especially now).

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  • Long Beach Real Estate Statistics for October 2008

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