Not sure if you’re ready to sell this spring? There is more to buying and selling than just the season, says Frank Valentic from Advantage Property Consulting.
The traditional thought is that spring is the best time to sell your property. I think that spring has merit; but it’s important to consider current market trends and proven results, instead of making a blanket rule as to when it is the prime time to sell.
It really comes down to a combination of market trends and your personal circumstance. There is no doubt that spring and summer have been popular months to sell traditionally because that’s when properties tend to look their best. But with many people defaulting for spring and summer sales, this means that there is more competition on the market at that time.
In recent years, the winter months have also proved fantastic performers as the demand for property remains high, without as much competition from other vendors since it is a less popular time to sell.
Other things to think about when picking a date to sell include how public holidays may affect your campaign. Momentum and repeat visits are essential to a successful selling campaign. I suggest that when you are planning to sell, you should take into consideration holiday periods that may affect the foot traffic and interest in your property.
Unless you are looking to sell your coastal holiday home, I recommend steering away from dates such as Christmas and New Year’s Day in summer, when most people are on holiday. Usually the second half of December begins to get tricky if you are trying to sell before the new year, so keep this in mind if you are looking to place your home on the market towards the end of the year.
Other holidays to keep in mind include Easter and Chinese New Year. It is often a great time to sell just after the new year period, as the Chinese community considers it good luck to buy at that time of the year.
At the end of the day, I believe a combination of market trends and your personal circumstances should be considered, rather than blanket rules, when you are preparing to sell.