RE: Do Holidays & Real Estate Correlate?
Yes!! My favorite statistical analyst, Megan Aller at Land Title Guarantee Company, shows us in the graph below that there's a considerable drop in the number of homes going under contract on holiday weekends. There's also a correlation in the amount of less contracts on "Hallmark" holidays versus observed holidays. What does this mean for you?
--- if you're a buyer, get OUT and LOOK on holiday weekends! Less buyers means less competition, which means less multiple offers and a better chance at getting your offer accepted! As far as specific weekends, we see more of a drop in contracts on observed holidays (Memorial Day in this specific graph) than "Hallmark" holidays like Mother's Day shown here.
--- if you're a seller, WAIT! Do not list your home directly before a holiday weekend. Less buyers means less people looking at your home, meaning less offers. On top of that, in our current market, we know that if a home isn't under contract within the first weekend, people start asking, "what's wrong with it?" and "is it priced too high?".
Bottom line is Colorado is a leisure loving state. When people get a day off, they travel. Therefore, depending on if you're a buyer or seller, you need to plan accordingly for these (and ALL) holiday weekends!
I'm here to help both home buyers and home sellers so give me a call!! (303-597-6550)