Although the answer to “when is the best time to sell a house” isn’t exactly clear cut, the good news is that the numbers don’t usually lie.
What we refer to as a seller’s market is when demand exceeds supply, meaning vendors can usually sell their homes or properties quickly and at a favourable price. Time on the market tends to be low, settlement turnaround times faster, and auction clearing rates high, making it the ideal time to sell a home or property. Market conditions have to be “just right” – such as the economic fallout of the pandemic. In Australia, we’ve been fortunate enough to both bounce back relatively quickly, and better than ever.
However, there are plenty of reasons as to why you may not be quite ready to part with your property just yet to take advantage of this market boom. After all, the driving factors for selling a home or property are just as diverse as those who are looking to buy one, so there’s a whole medley of variable factors to consider if you’re pondering when is the best time to sell a house.
What The Data Says About When To Sell Property
Traditionally, Spring has long been regarded as the most favourable time to sell property, as gardens are looking their best, the weather is usually good and there are plenty of buyers wanting to move into their new homes in time for Christmas.
On the flip side, in the past this has also meant more competition on the scene when it comes to the amount of homes potential buyers are comparing yours against. It’s for this reason that the Autumn months have also grown in popularity – potential buyers are back on track after Christmas, and want to be settled for the Winter.
However, this is seeming less and less relevant in the current Australian property market. With record low interest rates and increased consumer savings, our economy has successfully stabilised after a turbulent 2020. Thankfully, the results are being reflected in the domestic property market, with property prices well and truly back on track. For those wondering when is the best time to sell a house in the not so distant future, the good news is that things are shaping up to stay golden for a while yet.
It’s also important not to discount the thought process as to why you are looking to sell your home, as these variables can play an enormous role in regards to how quickly and how much you end up settling for. A few key examples include the below situations that many of us will encounter in our lifetimes –
- A growing family
- A job transfer
- A need arises to unlock capital
- Realising profit from an investment
- You can no longer afford to keep the property
- An opportunity arises that is too good to refuse
- Funding retirement
- Finalising finances after the death of a loved one
Generally speaking, it’s considered best not to try and sell a property during times of significant upheaval in your life, or when you are unable to showcase the property in its best possible light. While selling a home or property shouldn’t be stressful in theory, sometimes you may not be in the best frame of mind to deal with the additional upheaval on top of other major life events that may also be going on in the background.
Before listing your property for sale, make sure that you are genuinely ready and willing to sell – and if you’re not sure as to where you stand, it’s always helpful to speak to a property adviser before committing to big real estate decisions.
Sourcing Advice On Selling Property
A completely free service, Emergency Services Property Advisors provide property advisor services to Police, Fire, Ambulance and S.E.S personnel and their families right across Victoria.
If you are an emergency services worker looking to potentially buy or sell property in the future, please get in touch with Emergency Services Property Advisors today to discuss how we can turn your real estate dreams into reality, or call Luke directly on 0414 757 705.
