Contrary to conventional wisdom, the best time to sell your property isn’t necessarily during Spring. While this might be the most pleasant time of year to hold open homes, the numbers show that this doesn’t necessarily translate into higher prices or more sales.
With that in mind, if it’s not Spring, when is the best time of year to sell property?
The best time to sell your property
CoreLogic analysed close to 10 years of sales data and found that the busiest month for house and unit sales in Australia was March – just after the holiday downturn. This may indicate that Autumn is the best time to sell your property.
There are several possible reasons for this. Buyers and sellers may be more motivated at the start of a new year and fewer listings may make the market more competitive. The weather is also still fine during March so properties will appear bright and airy during open homes.
The worst time to sell your property
Choose an excellent agent, who puts together an effective marketing campaign and your property will sell for a good price regardless of the season. However, the data tells us that generally homes sell for around 1% less on average during Winter.
For that reason, if you’re not in a hurry to sell it might be best to wait out Winter and sell when the weather starts to warm up in Autumn.
Selling property in Spring
Spring is the busiest time of year for property sellers, and there are consistently more homes on the market during this period than any other.
That means buyers have a wide range of choices when it comes to the property they eventually buy. The fact that buyers have so much to choose from can make it difficult for your property to stand out from the competition, which may make achieving a good price and successful sale difficult.
Sell when you’re ready
Selling your property is a huge life step. It can take months to complete a sale and then you’ll have moving to a new house to worry about.
Because selling your property is such a big task you shouldn’t worry too much about the time of year during which you sell. Instead, focus on making sure now is the right time for you, your family, your investment and the property market in general.
If you’re completely flexible Autumn may be the best time of year to make it happen, but don’t stress if that doesn’t work for you. With the right real estate agent and a solid marketing campaign your home should sell even in the depths of winter.