When Is The Best Month To Sell A Property? (Ep187)
Many believe that the spring months of September, October and November ought to be the best time to sell your property or your house. But when is the best month to sell a property? Well it may surprise you that it actually depends a great deal on the area your property is in more so than the seasons of the year.
That’s right the best month to sell your property isn’t necessarily based on a season or based on the weather but it’s more likely based on variance in the local area that you are in. Let’s look at this in more detail.
Is Spring Really The Best Time To Sell Your Property?
It is very common for people to say the best time to sell your property is in spring and in some cases this is true.
We do see a lot more activity in the spring months as a general consensus and there’s a lot more people up and about because obviously the weather has eased up from winter and it’s going into summer and just nice all around.
One the reason spring isn’t always the best time to sell your property is because even though there are often more buyers in the market there’s also a lot more sellers in the market. Because there’s more supply and more houses on the market it means that the buyers have a lot of different houses that they can look at and choose from if they want to purchase a property in the next month or so.
This oversupply of houses means that spring isn’t always the best time to sell your property.
Why The Autumn Could Contain The Best Months To Sell A Property
Another great time to sell your property apart from spring could be the autumn months of March, April or May. Early on can be great because often the surroundings of your property looks fantastic with the colors of the trees and the sun drops a bit lower in the sky so you can get more sunlight into your property in some circumstances.
And another reason that people have said that autumn might be a good time to sell a property is that people have come from the December and January holiday months and they may thought about what they want to achieve in the year. What kind of property they want to buy may be one of those goals.
Now that they are through February and into the swing of things with work they may now be in a position to buy and they have the knowledge from spending that time at the start of the year thinking and dreaming about the property they want to purchase this year.
So this could mean more buyers in the autumn months and because there’s none of that stigma that autumn is the best time to sell your property it means that the oversupply that we can sometimes see in spring doesn’t always necessarily happen in autumn.
Are December and January Bad Months To Sell?
The months of December and January are generally considered pretty bad months to sell your property but again it does vary on area.
They are considered bad months because obviously it is coming up to Christmas and people winding down and they’re not really thinking about the goals and the properties they want to purchase.
Everything just seems a shutdown on Christmas time. And in January there are a lot of people who are on holidays and who aren’t really looking at property in their local area at that time.
Winter Is Advised Against
Winter is often seen as a poor time to sell your property as well because truthfully I don’t know why and I haven’t actually looked into the statistics as to what the winter months are like but obviously people stay inside malls, people are more conservative in winter and so maybe that’s why winter has that stigma about it.
But truthfully choosing the best month to sell your property is more about your local area than it is about the seasons across your country and specifically we’re talking about Australia.
Your Market Will Determine The Best Time To Sell More Than Any Month In Particular
Supply and demand are often going to determine whether it’s a seller’s market or whether it’s a buyer’s market. If you’ve got a lot of properties on the market and not many people willing to buy well it’s a buyer’s market and to sell your property you need to negotiate more.
If you don’t have many properties on the market and you have a lot of people wanting to buy well that makes it a seller’s market and it means that you can negotiate harder as the seller and you can also push up prices.
But this fluctuation of supply and demand does happen on a very local basis. It could be as a result of new developments that have been released, it could be as a result of the general market feeling. If things are optimistic then more buyers are in the market and it can push prices up.
If the government does a grant like the first home buyers grant or the the first home buyers boost that we used to see in New South Wales that can push prices up for a season making it a great time to sell even in the winter months.
And also interest rates can affect the supply and demand as well. As interest rates go down houses become more affordable. People then often increase how much they would be willing to pay for a house because interest rates are so low and so that can drive demand and help you get a higher price for your property.
There Is A Lot To Take Into Account
There are a lot of different factors that you need to take into account where on seasonal factors is just one of many. Talk to your local real estate agent. Keep researching the areas so that you can keep your finger on the pulse. And try and decide when is the best time to sell your property not by what the sun is doing or by what the weather is doing but based on how your area is performing and how much you can get for your property at a certain point in time.
I hope that this has been helpful for you choosing your month. Really the answer is you need to go out and you need to do more research in your specific. The easiest way to do that is to talk to a couple real estate agents.
Obviously don’t just talk to one because they might just decide that the best time to sell is now because they want to sell your property and get the commission so talk to a few different real estate agents see what you can find.
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