Its November next week. Depending on where you sit, this is either exciting or terrifying
Its November next week. Depending on where you sit, this is either exciting or terrifying, though I find myself a bit on the fence about it as we rush towards Christmas but simultaneously face the usual end of year rush as buyers and sellers frantically work towards finalising their property plans for 2024.
As is typical for this time of year, the crunch will be on as sellers look to get their properties on the market, under contract and hopefully sold before Christmas. In this market, that remains very doable for the most part, but it does require getting your ducks in a row very quickly as we sit here in the last weekend of October 2024.
Lets work backwards: I would expect most offices to finish up on the 20th December this year, so figure that to get lawyers, banks and sundry on board, that’s your finish line for getting settlement through. Settlement for a contract with any kind of conditions in place (especially finance) could be as little as 30 days, but figure on 42 to be safe (6 weeks). that pushes us back to somewhere between the 14th and 20th of November to get everything signed. If you are in a typical high-demand location or price point, then 14 days on market should give you your opportunity for success.
That does however mean that for those of you thinking of selling but not yet on-market, these next 2 weeks are critical. Particularly for anyone keen on staging – make those phone calls quickly because if you end up with a 4 week wait, then you’re more than likely looking at handing over the keys in 2025.
None of this is to say, of course that you can’t list later in the year and still find success. Each year I am surprised by just how late into December people are still actively looking, and it wouldn’t be the first time that I find myself sitting in the office on Christmas Eve signing contracts.
So if one less property in your name and more cash in the bank is on your Christmas wish list – start by speaking with your preferred agent to get an appraisal and strategy for success, declutter as best you can before the family arrives and book in your works to be ready in time.