Written by Cara Fitzgerald | 10 December 2023
Timing makes a big difference to the number of potential buyers in the market, the price you may get and how long it may take to sell your home. Your local real estate market is influenced by a number of factors, so identifying the ideal time to list your property for sale can make a substantial difference to your outcome. Let’s explore the best time of the year to sell your home and why.
When is the best time of the year to sell your home
Does the property market spring into action?
In the world of real estate, spring is often hailed as the season of buyer rejuvenation. With flowers in bloom, pleasant temperatures and longer daylight hours, potential buyers are more inclined to view homes during this time.
Spring bestows a natural beauty upon our gardens, which can work to a seller’s advantage in enhancing the street appeal of your property. A well-maintained garden showcasing its vibrant colours and foliage can make a lasting impression on potential buyers, setting your home apart and creating an emotional connection.
The psychological effect of spring on possible buyers cannot be underestimated. The season is associated with new beginnings, and this positive mindset can translate into increased interest and enthusiasm among home buyers, encouraging them to venture out, attend open houses, and make decisions more swiftly.
What about when the wind blows?
While spring often steals the spotlight in the real estate calendar, don’t overlook the hidden gem that is autumn. Many real estate experts will agree that the amber hues of March signal one of the golden times to sell.
With the kids settled back at school, autumn inherits the lingering energy of the summer real estate market. Many potential buyers who weren’t actively exploring options during the busy summer months may now be more active in the market, offering a continued pool of motivated individuals looking to make a move.
‘Tis the season?
Typically speaking, many buyers have switched into holiday mode and will take a house-hunting break coming into Christmas and New Year’s. They can often be districted with arrangements for the festive season, family get-togethers and going away on holidays, leading to a potential decrease in the pool of prospective buyers. South-east Queensland’s scorching temperatures, which can reach uncomfortable highs, can also dissuade potential buyers from actively engaging in the home-buying process at this time of the year.
HOWEVER, we are currently in the strongest sellers’ market in 15 years, according to @ap-realty Property Development & Investment Consultant, Rick Hayter.
Rick says the best time to sell is when market conditions confirm the following key indicators are present – and these are all in play right now!
High levels of demand: This occurs when there are more buyers in the market than there are available properties. This increased demand often results in multiple buyers competing for the same property.
Low stock levels: The number of properties currently on the market is limited. This scarcity of inventory puts sellers in a stronger negotiating position.
Quick sales (days on market): The number of days a property is on the market is a very accurate indicator. Compare this year to last year, this quarter to previous quarters. Stock moves quickly in a seller’s market.
Rising prices: Property prices tend to increase when there is both high demand and low supply.
Competitive bidding: This is when buyers engage in competitive bidding wars, where they offer higher prices than the asking price to outbid other interested parties.
Overall, the best time to sell is in a sellers’ market – where conditions exist that empower those selling their properties, creating an environment where sellers have more leverage in negotiations and can often achieve more favourable outcomes.
While real estate experts often observe the first half of the year, particularly late summer and early autumn, to be the more favourable time for selling, the winter months can also present an opportunity for sellers who embrace strategic pricing and marketing to stand out in a less crowded market.
Understanding the annual property cycle is crucial for optimising your selling strategy. It is also important to consider broader economic factors such as interest rates and employment rates, as these can influence the real estate market. Ask your real estate agent for a free property report that includes trends of sales in the area.
What’s going on in the neighbourhood?
Many of our local areas play host to events which could impact the success of your selling campaign. As a starting point, check out Brisbane events and public holidays. Also consider pending infrastructure developments and the amenities you have nearby – schools, sports grounds, retail. Consider how these can impact traffic (avoid any event that has the potential to turn your local streets into a car park), noise, parking at different times of the year and week. Set your open inspections and auction times to avoid these inconveniences. If you live near a busy road, traffic lessens during school holidays.
While understanding the seasonal nuances that characterise the real estate market is a good start, it’s equally important to consider broader economic factors and interest rates in order to make an informed decision about when to list your home for sale. It’s also necessary to consider the specific features of your property and neighbourhood to fine-tune your timing and maximise the chances of selling your home for its maximum price.
If this all sounds a bit hard, remember that you don’t have to do this on your own. Your local real estate agent will know the best time to sell a house in your suburb and be familiar with the specific dynamics of the local market to provide you personalised advice and insights.
Rated the number 1 agency in the suburb 8 years in a row, our team at @ap-realty will help you navigate the selling process with confidence and achieve the best possible price for your home. We take great pride in delivering a personalised service that provides you the best results. Get in touch and let us show you what makes us so different.