Selling in December: …how do I handle Christmas decorating?

When I’m selling in December…should I decorate my home?
Perhaps not the biggest question sellers and their Realtors may have on their minds late in the year but one that warrants some consideration. Christmas is an important time of the year for many of us and a big part of the excitement is decorating the home as part of the seasonal celebrations.  So if my property is still going to be listed for sale…does this change how I choose to decorate?
Bah, humbug!…don’t decorate at all!
One school of thought might be that one should not decorate at all and let buyers see the property without all the distraction that could be associated with Christmas décor.  This argument would also suggest that adding decorations personalizes the home and may detract from the overall space.
To tree or not to tree?
Christmas trees may be an important centre piece in one’s seasonal decorations; should we forego the Christmas tree this selling season?  Trees take up a lot of space and also could be quite a distraction for visitors.  While it is one’s prerogative to “tree or not to tree”, we think smaller homes and condos may show best without a Christmas tree or opt for a very small or table top sized version.
“It’s our last Christmas here…”
There is a lot of sentiment around the Holiday season and if it won’t feel like Christmas without the tree and all the trimmings then by all means “go for it”.
Withdraw or suspend listing or restrict showings:
A compromise solution might be that one either temporarily withdraws the listing from MLS® or introduces some showing restrictions during the Christmas season.  (Your Realtor has forms for doing this.)
Bottom line:
Homeowners make their own choices of course and as Realtors we also encourage sellers to balance the listing needs with their own, as they still are living in the home and should not feel that they are in some sterile environment which is void of any personal touches.  We would generally suggest that a “lite” version of one’s typical seasonal decoration is the best way to strike a compromise.
Merry Christmas and Happy selling!
Dawn Davey, Broker
Gord McCormick, Broker of Record
Oasis Realty Brokerage
613-435-4692
oasisrealty@rogers.com  www.oasisrealtyottawa.com
@oasisrealtyOTT

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Fed spending and headcount continue to hike home sales in Ottawa

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…overall prices though…not so much!

October 2016 yielded another pretty good month in Ottawa real estate, buoyed by continued growth in Federal government headcount and spending. Sales were positive in the month of October with new home sales and condo’s leading the way.

New home sales up 18.5% year-to-date:
The new home segment has seen a major surge this year and that is good news for builders. Some of these sales may challenge the resale market which is pretty flat in average price this year, although the number residential units sold is up 6.0% so far this year. Average selling prices are ahead only .9% overall for residential at $396,109.

Condo sales much better this year, up 9.1%
Condo sales on MLS® (which also includes some new construction sales but not all) where up a whopping 27.2% in October and are showing a 9.1% increase year-to-date but average prices are again pretty flat with the average price sold at $259,925 unchanged.

Listing inventory pullback has helped the market:
The number of new listings this year is down by about 7% overall and current inventories show the number of residential listings down 16.7% at the end of October and condo listings down 14.1%.   Rental listings were also down by 28.9% at month’s end.
This has moved us away from some very high listing inventory levels experienced over 2014 and 2015 and keeps us in a much more balanced market.

How long does it take a property to sell in Ottawa?
Our days-on-market to sell the average property has increased slightly to 58 days for residential properties (up from 55) and 73 days for the average condo (up from 68 days last year). This is a key statistic for those considering a sale to study in detail for their own area, as it is critical in assessing both marketing timelines and listing pricing.  A Realtor can provide up to date and detailed information in this regard.

Most popular pricing categories:
The $300,000 to $400,000 price category is the most active/popular range, followed closely by the $200,000-$300,000 price category.
Overall, 80% of residential sales in Ottawa are done at lower than $500,000 and 75%+ of condo sales are done at less than $300,000. These types of ratios are important for sellers to consider when listing, as it determines the size of the potential market for their property.

What’s next?
We are entering the quieter period for real estate in Ottawa and while sales should continue strong vs previous years, the months of November-February are our 4 slowest months of the year. Sellers will want to carefully review pricing and competitive factors prior to listing their property for sale during this period.

Now may be best time to buy new construction for 2017 delivery:
Buying new construction may be optimal at this time of year for closings in summer 2017, as those with existing homes to sell, will be able to sell in the busy spring market.
First time buyers will have more months to save and also possibly be able to use their 2016 tax year RRSP contribution for their down payment, in addition to getting the 2016 tax break.

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
613-435-4692 oasisrealty@rogers.com