The best time to sell property is in summer, as sales data shows that there is often a dip over the colder months, with more transactions being concluded in the warmer, sunnier months, according to Seeff Property Group.
In summer, gardens and neighbourhoods tend to look better, plus there is generally a better mood, and people often want to start new things.
The summer months also coincide with the lead-up to the end of the year and this period of time generally sees an uptick in buyer activity. Families tend to look to move closer to schools or universities.
Seeff said that buyers who want to upgrade their properties will start looking from Spring if they want to purchase property by the new year. People that are in the market to scale down or retire will start looking now at their options.
Those who are looking to sell their holiday properties, the summer months are usually a good time to do this as more people start thinking about investing in their own holiday home rather than paying for hotel or resort stays.
With the festive season looming, buyers may feel a sense of urgency to get their offers to purchase in as soon as possible so that they can settle into their new home before the holidays.
Seeff said that the prospect of a cut in interest rates in the next few months, and with the warmer months approaching, it signals a good time to sell.
However, the best time to sell depends on the circumstances of the seller.
Getting your property off the market
Sellers will face increased competition as there will be more property listings over the warmer months.
According to Seeff, properties are now taking longer to sell, spending on average 12 weeks on the market, from around 10 weeks at the start of the year.
If property owners are putting their homes on the market, they must consider their priorities.
Sellers can put off potential buyers by overpricing, therefore, pricing you property correctly is important.
Make sure that your property is in a good sellable condition. This means that you need to fix what needs fixing and clean what needs cleaning.
Seeff said that experience has shown that listing at the right time and correct price will lead to a faster sale, and achieve a higher price.
Broadly speaking, it is still a buyer’s market, according to Samuel Seeff, chairperson of the Seeff Group.
Sellers need to consider the factors which affect the selling of a house including:
– pricing
– location
– property condition
– market conditions.
