When is the best time to sell?

Wednesday 14 Mar 2018

 

By Stephanie Hearne, Licensed Real Estate Agent

I am often asked the question from sellers, when is the best time to sell? The answer is actually quite simple - the best time to sell is when you are psychologically ready to move on.

If you are not mentally prepared to sell and move on with the next stage of your life/lives then there is no point investing the time, energy and money needed to prepare your home for sale.  

The best buyers often come in the first 7 to 10 days of a new property being on the market and we often hear the best offers during that first week of a marketing campaign. So you have to be clear whether you want to sell or not, as things can happen pretty quickly. Buyers who make good offers in the first week will need answers quickly or else they may move onto another property.

You can second guess market conditions by looking at seasonal and economic factors but of course there are pros and cons to each season. I’d always recommend to buy and sell in the same market, either sell first with a long settlement or buy first with a long settlement hence the need to only move once.

The beginning of the year sees a lot of buyer activity with pent up demand from the year before and you can do very well with decisive buyers. Conversely there are also new buyers coming into the market in the New Year and these buyers often need to be educated as to the market and prices. The average buyer will take approximately 4 to 8 months to eventually buy.

March brings more stock to the market so there is more competition with the same number of buyers. Winter can often be a very good time to sell with fewer properties on the market. As long as you have the right aspect and your property is cosy and warm in winter, your property will stand out from those with southerly aspect.

A lot of home owners like to sell in Spring when their garden is flowering and looking its best. October/November is the traditional (and busiest) time of the real estate year. Houses look fresh, gardens look pretty and suddenly there is a lot for buyers to choose from. Supply and demand kicks in!

Coming into the Christmas season, buyers (and agents) are fatigued and may have other priorities so from mid-December to mid-January the real estate market in the area slows down and it is not a good time to sell. This is often a good time for sellers to start getting their homes ready for sale in the New Year.

If you would like to discuss how to get your property for sale or would like an accurate appraisal of your property in this market, give me a ring on 0412 565 682

- Stephanie Hearne, Licensed Real Estate Agent