Conventional wisdom says: Don't list your home for sale during the holiday season. In fact, if your home is on the market, consider taking it off.
Nowadays, everyone loves a rebel. Someone who will say, "Take that conventional wisdom and stuff it."
So let's take a look at how some late-2015 listings fared, and make note of late-2016 listings to track how they wind up.
Late 2015 Listings & Activity
Perhaps the most daringly timed late-2015 listing was 3617 Elm (3br/2ba, 1200 sqft.).
Not only did they intend to occupy the field alone, they also shot the moon on price, asking $1.699M. Listing start date: December 28, 2015. After Christmas!
This little cottage on Rosecrans, which we frankly described as "rental caliber" with an "awkward layout," didn't sell at once just because it was the only new listing for a spell.
No, it ran 8 months on market, including a refreshing re-list after almost 7 months. (editor: Hey there, pause a moment, Dave... doesn't "refreshing re-list" sound nicer than "bogus re-list?" Let's consider that for the 2017 stylebook. - MBW)
Also, that start price was proved to be 32% too high. Final sale price: $1.150M.
Lesson: Soaking up all the attention by being the only new listing for 2+ weeks will not overcome a massive pricing mistake.
Another December 2015 listing was at a nice (maybe even opulent?) and surprisingly large South End Sand Section home at 441 1st (5br/5ba, 4675 sqft.).
They priced it at $4.992M and just kind of kept it there for 8 months, never making the sale. There's now a sign out front again, and we saw a hint that it'd be coming at at $4.899M, but it's not live at this time.
There was also a Hill Section lot sale at 914 Duncan Place which came out asking $3.850M a week before Christmas last year. Oops, that one didn't sell either, after 2 runs on the market in 2016.
In East Manhattan, a lot sale at 1466 3rd emerged Dec. 16, 2015, and it did sell – in late April, with 85 DOM. Hm, no holiday-season boost there.
We definitely recall the sprawling East MB ranch house (upgraded/modernized) at 1321 5th, which debuted in early December and had constant open houses throughout December and the New Year.
It was always one of the more compelling offerings east of the highway. You had to groove on what they'd done to convert a one-level rancher to a would-be fancy mansion. After a start at $2.599M, this one did sell (for $2.450M) in late March.
Another East MB offering from mid-December 2015 was 907 Harkness (5br/4ba, 3435 sqft.).
Like 1321 5th, it was compelling: a sizable, warm, family home with a decent yard and one of the lower asking prices for something meeting that description within the 90266. It got exposure during the holiday season, but sold in March for $2.220M.
OK, admittedly, we've struck out here in trying to find examples of listings emerging late in the year and finding success.
Maybe we're just confirming the conventional wisdom. (Sad!)
The last listing to go into escrow in 2015, according to the MB Property Ticker, was the East MB view townhome at 1461 12th St., Unit D, a deal which did close at $1.199M in early 2016.
That deal posted on Christmas Eve last year. That means the final week of the year seems to have passed by with no new sales activity. There's that conventional wisdom, again. (So sad!)
There wasn't much going on in the week before Christmas back in 2015, either. Dave's clients made a great deal on 524 23rd (4br/3ba, 1700 sqft.) on Dec. 18, beating out one other set of buyers at the time.
Other than that, the end-of-year period was quiet in MB.
Late 2016 Listings & Activity
Let's start first by looking at the bright side of this year.
There have been 3 new deals posted in Manhattan Beach in the final 10 days of the year. (And there are still 2 business days to go.)
Those deals were at:
1154 Rowell (3br/3ba, 1900 sqft.), a new construction modern TH asking $1.449M;
3508 Poinsettia (5br/3ba, 2250 sqft.), a partly remodeled, large cottage that had just fallen out of escrow and was asking $1.595M; and
30 San Miguel Ct. (3br/3ba, 2075 sqft.), an end-unit Village TH asking $1.399M (pictured).
And hey! Guess what? 30 San Miguel also qualifies as a late-in-the-year success story.
The official listing date for this one was Dec. 14th. They're in escrow now with just 3 DOM recorded. They threaded the holiday needle! And they may have been the only ones in 2 years to do so.
The only side note to that is that the same property was exposed for 6 months earlier in the year by a different agent, and without success. What counts, though? Results.
Meantime, as of Dec. 29, 2016, there are 16 active listings sporting a December start date. That's a lot of rebels flouting the conventional wisdom! Here's the list:
(Above is just an image; to see the full list of active listings in MB sorted by date, try this link.)
Right now, the last 3 listings of 2016 are set to be:
232 30th Place (4br/4ba, 2100 sqft.), nearly new construction on Highland with nice views, asking $3.495M – began Dec. 16, 2016;
3204 Vista (2br/2ba, 1200 sqft.), a slick if unusual remodel of a smallish 1950s house, asking $1.399M – began Dec. 17, 2016; and
305 19th (4br/2ba, 2350 sqft.), a somewhat dated duplex (late 1960s) that's positioned one up off of Highland with some views; arguably near land value at $3.500M asking – began Dec. 23, 2016.
So, what did we learn?
The conventional wisdom seems to hold for good reason. This year, a crunch of December listings wound up crowding each other, not exactly getting their moments in the sun to themselves. (Sun? What's that?)
Even if listing late in the year didn't help all of these listings to sell quickly, at least they've got this going for them...
They'll be the first ones people see in 2017.
Happy New Year to you & yours!