When Is The Best Time To Sell Your Property?
Traditionally, more properties come to market in spring than at other times of year.
But is there any reason they should? Does the season really matter when it comes to getting the best price for your home? Or should you simply sell when you’re ready? We look at the pros and cons of selling in every season.
Selling in Springtime: taking the traditional route
It’s little wonder that Spring is the traditional selling season: the winter chill is lifting, the days are getting longer, people are feeling more optimistic, gardens are in full bloom, and the weather is neither too hot nor too cold.
Significantly, because this is the time of year many people associate with selling property, it’s also when a lot of potential buyers start looking in earnest too.
For that reason, Spring can be a time when sellers see a lot of demand and this can help drive up the price of a property. On the other hand, there is also usually considerable competition, as your home is likely to be one of many on the market. But if you have a quality property that stands out from the crowd, you should be able to capitalise.
Selling in Spring works best when: There is a lot of activity in the market and your property compares well with other listings.
Selling in Spring is not so good when: Activity isn’t as high as usual and there is a flood of listings just like yours (or better).
Selling in Summer: capturing the holiday vibe
Conventional wisdom often says that summer is a bad time to sell – unless of course, you’re taking a holiday home to market. The reason for this is that people have fun and family on their minds – not property. They’re also more likely to be caught up at social activities or on holidays and therefore less likely to be able to attend open homes and auctions.
That said, there can be real advantages to selling in summer.
There are usually fewer homes on the market, so there’s less competition. Often buyers have a fixed deadline of wanting to nail down their purchase by Christmas or the start of the school year. This means they more be more likely to put their best foot forward.
Selling in Summer works best when: There’s little on the market and buyers are short on time when it comes to looking.
Selling in summer is not so good when: Buyers are so short on time they can’t attend your open homes.
Selling in Autumn: Tapping into New Year’s resolutions
A lot of people make moving home their New Year’s resolution and, by the time they’re looking in earnest Autumn has rolled around. That means, when you list your home at this time of year you’re putting it in front of people motivated to follow through. On top of that, the weather is often at its best and you’re “in between” sporting seasons, meaning people often have more time for house hunting. For these reasons, Autumn usually brings out more buyers than any time of year other than Spring.
On the downside, however, Autumn is also a time for public holidays (Easter and Anzac Day for instance) and these can affect a marketing campaign, reducing the number of potential buyers. As the days get shorter and winter starts descending there’s also the risk that the weather may start to turn too.
Selling in Autumn works best when: You’ve raked the leaves and your home is at its best.
Selling in Autumn is not so good when: You have to contend with school holidays or public holidays.
Selling in Winter: No frosty reception
A lot of people are reluctant to sell in Winter. For that reason, there are usually fewer homes on the market than in Autumn or Spring. However, as the days get shorter and the air becomes chillier there are often fewer people house hunting and fewer buyers in the market.
The good news is that those still attending open homes are often more motivated than buyers at other times of year. Many haven’t found what they were looking for over Autumn and won’t want to wait until Spring. And, given the lack of competition on the market, you could be perfectly placed to sell to them.
Selling in Winter works best when: There’s little competition and lingering buyers.
Selling in Winter is not so good when: Your home is dark and damp.
The reality is that there are advantages and disadvantages to listing your property in any season. A good real estate agent will point you in the right direction and make sure that you take advantage of every opportunity, no matter what time of year you’re selling.