Is now a good time to sell my house?
Deciding when it’s the right time to sell your house can be difficult.
Is the market likely to be slower in the extreme conditions of winter or summer? Is it better to sell in spring when your garden is looking top-notch? What about autumn?
If you’re unsure, we suggest thinking big picture and considering the trends in the market. We’ve put together a seasonal guide to give you an idea of how the real estate industry is impacted throughout the year.
Winter is often a quiet time of year in the real estate market. However, this could be beneficial as a seller as it also means less competition around.
The number one focus when selling in winter is producing warmth and creating an inviting space. Set up the fireplace or ignite the thermostat. No one can focus on a property’s beautiful spaces if they’re shivering! Consider adding rugs and blankets and lighting candles to create a cosy atmosphere. Open the blinds and curtains to let in the luxurious sunlight.
Winter is also the time of year when mould and leaks become apparent. Before putting your house on the market, ensure everything is in the best possible condition.
When the weather starts warming up again, so does the property market. And yes, this means the competition among sellers is likely to rise once more.
Open up your windows and let in some fresh air after the ‘boarded-up’ cold weather. Also check for any visible signs of mould.
Make your property stand out by enhancing your garden with bright vibrant flowers and luscious greenery. You can spruce up the rooms by bringing the flowers indoors as well.
Selling in Australia’s summer can be effective as it coincides with the Christmas and New Year school holidays. This means many buyers are off work and have more time for house hunting. It’s also that time of year when people are experiencing or considering fresh starts. So they’re ready to relocate for education or work – and discover your home.
On the other hand, many people go away during this time. Also, if your house is on the market from early December, the stresses of impending Christmas and New Year celebrations could slow down the proceedings – for both you and potential buyers.
With those factors in mind, temperature and outdoor lifestyle are two key elements to consider when selling in summer.
To keep inspections pleasant in the extreme heat, ensure the air conditioning is working well and provide refreshments. Also, aim to make your outdoor areas as impressive as possible. Set the outdoor dining table. Put umbrellas up. Place inflatable lilos and armchairs around the pool. Make the backyard shine.
According to a 2017 Corelogic study, Autumn is the best time of year to sell.
This is based on the average number of sales by month and season over the last 30 years, with 27% of all sales being transacted in March, April and May. March is actually the most popular month.
This could be due to the pleasant house-hunting weather. Or that people are in a calm and focused headspace following the new year break.
Whatever the reason, the autumn period is likely to attract increased competition from other sellers. So your home could potentially be overlooked.
Keep in mind that autumn weather can be unpredictable. So you need to be prepared with proper heating and cooling methods. Fallen wet leaves can also make a mess of your yard – so ensure you rake them all up before inspections!
Are you ready to put your house on the market? Talk to your real estate agent about joining Listing Loop. Your place can be added to a list of exclusive ‘just listed’ off-market properties – ready for eager buyers to find you, whatever the season.