Getting your timing right is easier than you think
As trusted property advisors to so many homeowners across the City of Moonee Valley and beyond, we get asked a lot of different questions. However, one of the most popular topics we get queries on is how to pick the right time to sell.
A lot of people in Melbourne assume that Spring is the optimum time to sell, an assumption that is understandable when you realise that the media tends to refer to Spring as the ‘peak season’ for real estate in Victoria. However, this is actually a little wide of the mark when you look at the numbers.
For example, whilst people assume that the weather in Spring is best suited to house-hunting, it’s worth remembering that September and October are actually the wettest two months of the year in Melbourne…not Winter as many people think.
For those that like to operate with real numbers, a ten-year study conducted by Corelogic a few years back found that whilst Spring is the season that has the highest average number of properties hitting the market, the season when the highest average number of sales are made is actually Autumn.
What’s more, (and this is probably the most important statistic of the lot), the difference between the season with the highest number of sales, (Autumn), and the season with the lowest number of sales, (Summer), is actually pretty marginal. The study found all four seasons have more than 20% of the year’s sales, so the difference is not that great, and if you’ve been following our recent results, you’ll know that this Summer has been a particularly good one for property sellers in our area.
What does this mean if you’re considering selling in 2021? Simple…the best time for you to sell is the time that suits you, your family and your individual plans the best!
Having said that, it’s worth keeping in mind that the coming Autumn, (it’s only a few weeks away folks), looks set to be a really positive good one for local home sellers. Buyer demand is extremely strong right now, interest rates are at record lows and there’s some good Government incentives out there for buyers in general, and first home buyers in particular.
So, if you are weighing up whether now is the time to act, and you’d like some obligation-free advice on how to make the most of the current market conditions, feel free to give us a call at Barry Plant Moonee Valley a call this week on 9373 0000.
We look forward to making a difference to your results.
Cheers,
Bill Karp
Director – Barry Plant Real Estate
Essendon & Keilor East