When Is The Best Time To Sell A Property?
We’re often asked “when is the best time to sell a property?” or "is it a good time to sell my house or apartment?" and our answer is there really is no right time to sell, it comes down to your individual circumstances, the type of property you have and the local market conditions.
Understanding the local real estate market conditions
Talk to your McGrath Agent about the local market. What are prices doing, how many properties are on the market and is there good buyer demand? They can share recent market reports, what’s sold in the last 90 days and give you an idea about what you could sell your property for in the current market.
Consider your personal requirements
There are a few key milestones in life that may trigger you to sell your property.
- You get a job in another state or region
- Your family is growing and you need more space
- An improved financial situation and you’re keen to upsize
- You want to unlock some capital
- You want to realise profit on an investment
- You want to reduce your debt
- Your Looking to downsize and simplify your life
- The perfect property goes on the market and you want to buy it.
Now you understand some of the triggers to sell, let’s look at the different seasons and the benefits they offer.
Benefits of selling property in any season
There are key benefits to selling in any season, it really depends on your property, its location and your preference.
The cold winter weather has passed, gardens are starting to bloom, and people are feeling optimistic. If you’re property has a beautiful garden this time could be ideal to showcase your outside area. It’s also a good time to sell a property that may struggle in the cold and heat or one that can be a bit dark in winter.
Many buyers who missed out in Spring, are keen to buy before holiday season begins, they want to finish off the year with a new home. Plus come January, after they’ve had time off from work we find many buyers are keen to fulfil their new year’s resolution with a property change. So, putting your property on the market at the end of January and into February can mean your property stands out in an undersupplied market.
Additionally, if your property is near the beach, or waterway, has a pool or garden, summer is the ideal time to show your property off at its best. In addition, properties that are cold and dark can look much more attractive on bright summer days.
Autumn is proving to produce excellent results for sellers. Buyers have well and truly settled back into work and school and their focus often shifts to bigger decisions like buying a property. The weather is cooling, the leaves are turning and gardens are still looking amazing.
Late Summer / Autumn represents a sweet spot for sellers as it enables sellers to miss the competitive spring selling season but sill benefit from a keen buyer market and good weather conditions.
Whilst it has a reputation of not being a good time to sell, winter does offer some key benefits for sellers. The market is often quieter with less stock on the market. Buyers however if they are keen to purchase in winter are often highly motivated and given the lack of buying options are often willing to pay more.
Homes that present well in winter, perhaps they have a fire place or a cosy and warm atmosphere do well in the colder month, you just need to make sure the open homes are scheduled when there is maximum warmth and light and the property is kept cosy.
Is it a good time to sell my house? Understanding property cycles.
What is a property cycle?
The four stages of the property cycle
The Stagnation or bottom of the market
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