Don’t wait till spring or summer to sell your home, put it on the market now in winter and reap the rewards.
With demand from buyers at strong levels and a tight supply of homes on the market, winter is looking like the perfect time to sell, according to Barry Plant agents.
They are advising owners to bring forward plans to list their homes on the market as soon as they can, with results to back this call.
Reserve prices have been smashed in recent weeks despite the cooler temperatures. Pent-up demand from buyers after lockdowns has added to the strong market conditions.
July is traditionally the slowest month for property listings and sales but in a Covid-disrupted market, this autumn saw a surge in buyer activity that is flowing across into winter.
“Owners will get their best results this winter as spring will bring more competition from other sellers,” Barry Plant Wantirna auctioneer Brett Smith said.
“Many of our clients have been rewarded with strong prices this autumn and so far this winter.”
Mr Smith advised homeowners to “bring forward your plans to sell and not wait”.
Properties are not staying on the market for long with homes selling as quickly as agents can list them, according to Barry Plant Heathmont and Ringwood agent Tamazin Edwards.
“This winter, everything is selling quickly with less competition from other sellers,” Ms Edwards said.
“As long as a house is warm and cosy inside, it will be attractive to buyers even in winter.”
The only time that clients are advised not to sell is during the Christmas and New Year period, she added.
Ms Edwards noted that lifestyle properties with pools and outdoor areas might look more attractive to buyers in warmer months.
She added that suburbs such as Heathmont and Ringwood East have a low supply of properties for sale all year round.
“Buyers don’t care when they buy, whether in winter or spring,” Barry Plant Boronia agent Adam Percy said.
“They also don’t care how green your garden looks ... they just want to buy a home.”
Mr Percy said that winter sales have achieved strong results in a “very competitive” market.
In the eastern suburbs, many areas have very few homes for sale. The Basin reported five sale listings while Scoresby had just 12 on July 1, on realestate.com.au.
Park Orchards and Wonga Park had 10 and nine sale listings respectively the same day.
Closer to the city, buyers in Essendon North had six properties to choose from while Keilor Park had just three. On the Mornington Peninsula, the suburb of McCrae had 15 sale listings.
With properties drawing multiple bidders and offers, this means there are plenty of buyers left disappointed and still searching, Barry Plant agents said.
Some markets are also reporting more investors coming back into the market, adding to the pool of buyers.
Three consecutive auction Super Saturdays in Victoria this winter, with more than 1000 auctions each week, show that many owners are already cashing in on a winter market unlike previous years.