In some cases, selling off a property can be the culmination of years of work, whether it’s paying it off or investments in terms of renovation. All of these steps are made, in theory, to try and increase the value that you get when that sale comes. While some of this value can be increased by your own work, in other cases, it’s outside forces that determine the ultimate value. The time of year is a key example. So, whether you are looking for the best time to sell an investment property, or just trying to find a time to move and get the most return, here’s what you need to know.
What factors affect the choosing time to sell the property?
There are a variety of different reasons that may determine when you choose to sell the property. In some cases, it’s simply a matter of the time that you are able to dedicate the most effort to sprucing the property up and working with a realtor.
For example, a teacher may want to wait until late spring/ summer. However, the biggest reason that most people opt to choose a given time for selling property is to play the market.
It’s basic supply and demand. If you put your house on the market when there’s a lot of other people looking, you have a better chance of getting the desired price for it.
However, things aren’t always that simple. Let’s take a look at the different seasons in Australia and how they impact selling property.
Spring is probably the most popular time to sell a home in Australia. A lot of this is due to the fact that factors like gardens are looking their best, and you may have people looking to move into a home before the holiday season starts.
Summer is likely to be quieter in terms of sales, but you can take advantage of the fact that some savvy buyers will be drawn to this period specifically for that reason.
Autumn is probably second behind spring in terms of popularity. Buyers who don’t have a chance to look during spring, but still want to search in good weather, generally choose this time.
Winter is probably the least popular time of year to sell, but those that are in the market are likely motivated buyers.
The Best time of year
Statistically speaking, the best time to put your properties on the market is likely going to be between March and May. This positions your sale at a time historically when a lot of potential buyers are actively looking for properties to purchase. While this may mean you have a lot more competition, it ultimately works to your benefit to sell when there are the most buyers present.
The Worst time of year
In general, if you can help it, try to avoid selling in December or January.
The reason for this is that most homebuyers already have a lot going on leading up to the holidays, and are likely to put their property search on the backburner in favor of these other tasks.
Timing can be a great way to increase the value of your house or the homes of your clients, but this generally isn’t the only thing that you need to think about. Making sure that you use all the resources at your disposal to try and stack the deck in your favor isn’t just going the extra mile, but should be standard practice. For example, you may want to make use of a telemarketing database in real estate to try and figure out exactly what other homes near you are going for, or looking at other local figures to determine the types of clients interested in your neighborhood. Don’t be afraid to get creative as a real estate agent.