One of the biggest questions real estate agents are asked is ‘When is the best time of year to sell?’ There is a perception that Spring is the best time of year to sell. The sun is out. Leaves are firmly on tree branches and not on the path. Everyone seems generally happier and some houses look better.
But statistically? Actually, really, truly? Is this the best time to sell?
For the numerate amongst us, in our 2260 postcode, 686 properties transacted from June 2015 to June 2016 which is an average of 57 per month.
(By the way, from Jun 2014- June 2015, 730 properties transacted.)
2260 covers homes in Terrigal, North Avoca, Wamberal, Erina Heights, Forresters Beach so obviously not the whole of the Central Coast, but fairly representative.
Here’s how it played out. (Statistics provided by RPData)
Clearly, in this period, there were less properties sold in Summer than in Winter – not what we traditionally believe to be true! I’d be a lot richer if I had been paid every time a seller told me they would put their house on the market in the Spring? But what if everyone felt the same way? What if every potential vendor waited until September? Anyone see a flaw in this theory?
Think about all the competition you are now facing, the choices now available to buyers.
Since every home seller’s situation is different, you should discuss the timing of your home sale with an agent. In some cases, selling a home during the autumn and winter months actually maybe better than waiting until the Spring real estate market. This is due to a combination of many factors including lower competition and that serious buyer’s are always looking for a home. Supply and demand, baby. The numbers don’t lie. 120 properties sold in Terrigal, North Avoca, Wamberal and Forresters Beach last June and July. 120 buyers saw fit to put their money where their scarf was and sign on the dotted line.
So think smart!
Put some cozy blankies on the couch. Crank up the fire. Maybe have a couple of candles adding some ambiance.
The good news is, serious buyers come out in the cooler months. Definitely less lookie lous and nosey neighbours.
No obvious leaks and a sense of how the house feels when it’s chilly is a handy by-product for buyers. And those buyers can be certain that they are seeing your home at possibly the worst time of the year.
Unless of course, you live in a west facing glasshouse and just swelter all Summer long…