What time of the year is the best to sell?
19-Apr-2010
The adage that fewer properties are presented for sale in winter rather than in the warmer months is true. But this doesn’t mean that it is a bad time to sell.
No matter what time of year, people still buy and sell homes and investment properties.
The impact of timing is felt more during the summer holidays, Easter and weekends with events such as the AFL grand final, spring racing carnival and Anzac Day.
This is not really surprising given Melbournians love of sporting events and long weekends.
REIV figures confirm that the number of properties in Melbourne that are listed for auction and private sale in winter drops when compared to the warmer months.
Buyers and sellers may find that the winter period can present opportunities.
Looking at 2009 the months with the highest listings for auction per weekend were, in order, December, November, October, September and August – the traditional spring selling season.
There was quite a variation, over those months, for instance in December there was an average of 869 auction listings per weekend and in November there were 771 listings. The next highest, October was 587. In winter this dropped to 331 per week in July and 421 in June.
Just because there are less listings doesn’t mean that there is a lower chance of selling your property, in fact the reverse was the case. The highest monthly average clearance rate was 85.5 per cent in June followed by July 84.4 per cent.
This shows that unless you need warm weather to show off the best aspects of your property, there is no reason you can’t sell your house at a time that suits you and your circumstances.
Whether you are looking at buying or selling a home or investment property you don’t need to do it alone. Contact our advocate, Warwick Brookes on 9853 5599 and set up a time to get the best advice.
If interested in learning more about this update please contact me today!
Tags: Auction, auction listings, clearance rate, investment, October, property, spring, spring racing carnival, warm weather, winter period
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