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Some tips on timing your sale for spring

Real estate & property news
06 October 2018
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Make no mistake, timing your sale can be important at any time of year. However, it becomes an even more important factor at this time of year, as the end of the Spring selling season gets closer by the day.

What many home sellers don’t realise is that there are actually two ‘Spring markets’ each year, and those who want to make the most of the best market conditions when selling will need to consider timing your sale to suit. That means getting the wheels in motion as soon as possible.

History has shown that those vendors who sell earlier in Spring tend to achieve better results than those who leave their sale until later in the year. This has certainly been the case in recent years, as was very clearly the case in the recent sale of a vacant homesite in Keilor East’s ever-popular Valley Lake Estate (pictured).

Each year in September the market experiences an increase in buyer numbers, and this year was no different. This produces increased competition, (which is reinforced by a shortage of available property), particularly as many sellers tend to wait until the school holidays and football finals are finished before preparing their property for sale. In fact, it was clear this week that the market has stepped up a gear following the conclusion of the football, with attendances at many of our Open Houses this week two to three times the numbers of the previous week. So all the signs are indicating that we are in for a busy month or two ahead.

But make no mistake, as we head towards December, the market will change:

  • The pool of buyers decreases with each sale;
  • The number of new listings increases as successful buyers put their own properties on the market; and
  • Additional sellers hit the market in response to strong early-Spring sales results.

As a result, over time competition between buyers will decrease while competition between sellers will increase, particular as many of those sellers will need to get a result to complete a purchase.

The message for anyone considering selling is clear. If you want your property on the market when the odds are stacked most strongly in your favour, you would be wise to start the process in the next week or two. Of course, if you would like any assistance or advice regarding timing your sale, don’t hesitate to contact us.

Real estate & property news
06 October 2018
Save Article

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