Timing your property sale this year.
While it may be thought that real estate is a seasonal industry, in fact, property is bought and sold all year round. However, while you don’t need to limit yourself to any particular season or time of year, there are certain aspects to selling in some seasons that may suit you better than others. If you are thinking about selling this year and wondering when might be the best time of year to do so, read on for our guide to the benefits of selling in each season.
With listings tapering off as the Christmas holidays approach, before picking up again in January, summer is often a less competitive market for vendors, making it a good time to sell if you are wanting to stand out.
Summer is also perfect to sell homes near water, like a beach house or riverfront property, especially those elevated, coastal homes that enjoy cooling breezes. If the property is located in a holiday area, it can be well suited for a summer sale when lots of tourists (and therefore potential buyers) are in town.
If you have a home that is dark and cold in the cooler months, now is the time to consider selling in order to take advantage of the maximum light and warmth on offer at this time of year.
With the heat of summer and busyness of the holidays a distant memory, and school terms in full swing, autumn is an ideal time of year to sell for many people. By now many buyers have done their market research over the summer holidays and have their finances organised, ready to check out what’s available and find somewhere before the colder months.
If your house becomes very cold and dark in winter, it makes sense to sell now before cooler weather and shorter days set in.
Read more about selling in autumn.
Despite cooler weather and shorter days in some parts of the country, there are distinct advantages to listing your property over winter.
As a rule buyers at this time of year are usually more serious and determined to secure a home, and with fewer listings generally available, your home is more likely to stand out, helping to secure a quicker sale.
Different areas of the country can fare better during this season than others. For example, some regional and rural markets may ramp up, with out-of-town buyers looking for a winter holiday escape, dreaming of cosying up around a fire in a country setting.
Tropical areas enjoy some of the mildest and driest weather of the year, making it an ideal time to list homes in those areas - especially with many holidaymakers (some of whom could be potential buyers) in town escaping colder climes.
A winter sale may also suit your property and its unique aspect. For example, properties oriented such that they receive ample winter sunshine can present at their best now.
Read more about selling in winter.
The spring season typically sees more homes coming onto the market, and buyers start to emerge from their winter hibernation, with market activity peaking in October.
With gardens at their best, comfortable temperatures and the chance to have sold before Christmas, for many vendors spring is their season of choice to list.
As a result, however, the volume of listings in spring can be very high, leading to supply outweighing demand and tipping the scales to become a buyer’s market. This can make it harder to get the best sale outcome for your property, especially if there are lots of similar homes also on the market and yours doesn’t have any stand-out features.
Read more about selling in spring.
Other factors to consider when timing your sale
It goes without saying that the best time of year to sell a house, regardless of season, is during a seller’s market, where there is more buyer demand than supply. However, here are some other aspects you should also consider:
- The climate you live in. For example, tropical summers can also mean the wet season while winter in these climates offers some of the mildest and driest weather.
- How the market is performing in your area and how many listings are there? Is it competitive? Are there many houses similar to your own? Where are you located - think carefully about when your house will present best i.e. a holiday house is well suited for a summer sale when lots of tourists (and therefore potential buyers) are in town.
- The reasons why you want to sell. If you need to sell quickly to make room for a growing family you may not have time to wait for the right season.
The process of selling can sometimes feel daunting but you don’t have to go it alone - contact your local Belle Property office today for advice and assistance with selling, including an obligation-free appraisal of your home’s current value.
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