When talking about the best season to sell a property, fall isn’t exactly the crowd’s favorite season.
With clement weather, gardens in full bloom and optimism often at its peak as the winter chill fades, spring has long been favored for property marketing campaigns, traditionally making it one of the busiest times for the Australian property market.
But while spring is often considered the best time of year to sell real estate, fall can also be a good time to sell real estate. — especially if done under the right circumstances.
Here are the top reasons why it might be a good idea to sell your home or investment property in the fall.
Christmas frenzy is over
The arrival of fall means that the Christmas frenzy is well and truly behind us.
This means that most people have returned from their respective vacations, the children have returned to school, and everyone is carrying on with their normal pace of life. This return to routine can also signal a shift in attention to major life decisions, including buying a property.
Some potential buyers also take advantage of their free time during the summer to plan, research the real estate market, get their finances in order, and even make some New Year’s resolutions. This means that in the fall, these potential buyers know what they want and feel confident in their buying decisions, making them strong contenders for a property.
Busier selling times like spring also tend to attract more tire-breakers and time-wasters to open homes, which are less likely to commit to buying property.
Autumn will undoubtedly be the season of choice for the legendary Goldilocks – it is neither too hot nor too cold. After all, viewing properties or attending auctions or open houses in extreme heat or freezing cold or in a downpour is no one’s idea of a good time.
With the hottest months of the year (December, January and February) behind us, the milder months of March, April and May can make the prospect of buying a home more attractive. The fall season tends to bring beautiful clear skies and stable temperatures, which can make the home viewing and shopping experience more comfortable for shoppers.
The cooler weather is the perfect time to show off a property’s garden and appeal to those who want a nice backyard on their property.
At the heart of it, buying a property is an emotional affair, and sellers need to tug on all the heartstrings they can to close a sale. What other season can better evoke a nostalgic and warm atmosphere like autumn can? While spring is synonymous with blooming flowers, fall is a time of year when the trees offer rich, colorful foliage unique to the season, as well as lovely scents that can entice buyers to close the deal. .
More likely to land a buyer
Most experts believe that the best time to sell is when demand exceeds supply.
In the fall, demand is likely to be higher, as there will likely be fewer properties for sale during the season.
Fewer homes on the market means there will be more eyes on the proverbial price, which in this scenario is your property. A competitive bidding may also begin between potential buyers, which can help you secure a competitive price.
Fewer properties to compete with
In spring and summer the market can be flooded with properties, which depending on market conditions can create what is known as “buyer’s market”, which occurs when supply exceeds demand.
In other words, a buyer’s market occurs when real estate inventory is high and there are plenty of properties for sale, but there is a shortage of interested buyers. These conditions give buyers leverage over sellers because when supply is higher and demand is lower, the market is forced to respond (usually by lowering prices).
Sometimes when there are fewer properties on the market, sellers have less competition and the chances of converting a listing into a successful sale can be higher. In the fall, there are generally fewer properties to compete in the market than in the spring, giving a seller’s property a greater chance of finding a buyer.
Top tips to consider when selling your property in the fall
If you decide to sell your property in the fall, here are our top tips for doing so:
- Don’t base your selling time solely on the season. While selling a property in the fall has its merits, your decision to sell shouldn’t be based solely on the time of year or the weather. The best season to sell your property will depend on various factors, such as property type, location, streetscape, etc. For example, if the property is located near a waterway or the coast, late spring or summer might be a better time to sell.
- Market conditions are important. Market conditions have a much bigger impact on the market than weather and seasons. Ideally, you want to sell in a “ask market” when demand exceeds supply.
- Sell strategically. If you choose to sell your property in the fall, it is advisable to sell in March rather than April or May. Australians are known as big football fans, and in early fall the AFL season hasn’t started yet, so potential buyers have time to attend an open house. In April this year there are also school holidays, Anzac Day and Easter holidays; all distractions for potential property buyers. Sellers should also note that the days get shorter and the weather begins to cool in May, especially in southern states, so it is advisable to start selling during the early months of the fall season. Therefore, it may be a good idea to put your home on the market in early March, when the weather is very favorable and potential buyers have a chance to see it.
- Summer time. If you are selling a property in New South Wales, Victoria, South Australia, Tasmania or the ACT, avoid having inspections open on the first Sunday in April, which is when the summer (DST) ends. This change in weather often confuses people. Instead, consider having your inspection open on Saturdays.
Disclaimer: The information provided in the article is general and should not be construed as personalized investment advice. It is strongly recommended that you seek financial advice from a suitably qualified advisor.
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