The greater Louisville, KY area experienced 30 percent more home sale transactions in September 2013 than September 2012 with more than 1,400 homes sold in 2013 versus slightly less than 1,100 homes in 2012. Those prospective homebuyers looking to take advantage of the growth of home sales should consider the Black Friday deals being offered on real estate. While not heavily advertised outside of the real estate arena, there are sellers offering deals and very enticing perks on Black Friday. Black Friday home sales and open houses offer benefits for buyers, sellers and realtors who put forth an effort to participate. A realtor.com survey of 344 realtors indicates that close to 70 percent of realtors thought sellers were serious or very serious about accepting a Black Friday offer and more than 60 percent thought buyers were of the same serious or very serious mindset with respect to making an offer.
More than 40% of the realtors who participated in the survey indicated that they intended to show homes and close to 14 percent indicated that they were planning to host an open house during the Black Friday weekend. Realtors, like buyers and sellers, will have to give up participation in the tradition of the holiday shopping frenzy at local stores and malls. However, they will likely engage those serious buyers and sellers who are most likely to engage a deal. More than 40 percent of the realtors surveyed believe sellers are serious about accepting an offer and almost 45 percent believe buyers are more likely to make a serious offer. In addition, more than 46 percent realtors indicate that there will be less competition with other houses on the market. Even though realtors will be working on Black Friday, there is a good chance that the workday will be more profitable than not.
The benefits to those serious buyers who are seeking a home for sale on Black Friday, are the perks offered in addition to the reduced sale prices on homes. Since homes generally do not sell well during the winter months, serious sellers are willing to lower the asking price in order to get a sale. Those serious sellers who are wise enough to sell during the holiday period are also more likely to offer perks that may range from hundreds of dollars to thousands of dollars in order to entice serious buyers to make an offer. One source quotes reduced asking prices in the range of $2,000 to as much as $10,000. Perks, such as washers and dryers or big screen televisions and entertainment centers, may then complement the reduced asking price. The extent of these types of perks is dependent upon of the seller and receptiveness of the buyer.
Throughout Louisville, home sales are up more than 18 percent and prices are up more than 14 percent for the year. Those sellers who have had a property on the market for some time, sellers who have plans to relocate and want to complete the selling process in advance of relocating and sellers who otherwise want to sell during the winter are more likely to engage in a deal that they would not even consider during the spring and summer selling seasons. In the spirit of the holiday season, sellers are in a position to offer perks and other extras in order to get an offer.