Historically, the number of properties for sale dwindles towards the end of the year before picking up again in January. But in many states, in the post-lockdown market, sales have continued up until Christmas. So, is summer a good time to sell? And what do you need to know before doing so?
Pro: People have more time to look (and buy)
For many people, summer means holidays, and holidays mean more time to relax and plan for the year ahead. They might start to consider their living arrangements, begin scrolling listings or moseying down the street to an auction. And who knows, you might be lucky enough to catch a buyer on their way home from the beach.
Con: Many people are on holidays
Holiday season can be both a blessing and a curse. While there may be more people around during the summer break, there’s also a chance many serious buyers, like locals, are away. So, while you may have the numbers, not all of them are likely to be serious about purchasing. Make sure you consider things like public and school holidays before listing, too.
Pro: Properties look better in sunlight
There’s no denying properties generally look better when the sun is shining. When it comes to hosting an open home, a bright interior typically excites people more than a gloomy one - whether it’s the morning light or the afternoon warmth. It can also make it easier for potential buyers to picture their lifestyle - such as entertaining by the pool or reading a book on a balcony.
Con: Buyers may ‘wait and see’ what the market does in the New Year
As summer heats up and the New Year rolls around, some buyers may be cautious of what buying conditions will be like in the year ahead. With ongoing interest rate hikes, many people may also be feeling the pinch and putting off their property plans until a more stable time.
Pro: Many people want to start the year in a new home
New Year, new home? For many people, the start of a new year signifies a fresh start and may spur them to purchase a property in the final month of the year. Also, Christmas is the time when a lot of people relocate for work. Depending on how much interest there is for properties in your local area, this could work in your favour.
Con: Expect competition
While summer is a popular time to sell - it’s also often saturated. If you’re thinking about selling in the warmer months, chances are so are many other people. This doesn't mean it’s a bad idea to sell, but you need to be strategic with your marketing and present your property to ensure it stands out above the rest.
Call or pay a visit to a Barry Plant agent and discuss your plans to sell.