Don't miss the boat this spring!

What many home owners don’t realise is that there are actually two ‘Spring markets’ each year, and if you want to make the most of the best market conditions when you sell, you may only have a few weeks to get the wheels in motion.

Experience has taught us 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, where the market saw a gradual transition from a seller’s market to a buyer’s market the closer we got to the end of the year.

History shows that each year in September the market experiences an increase in buyer numbers. This produces increased competition, (which is reinforced by a shortage of available property), particularly as a percentage of sellers will wait until the school holidays and football finals are finished before preparing their property for sale.

As we move through Spring, the market changes:

• 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 decreases while competition between sellers increases.

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 few weeks.

If you don’t want to be one of the many residents of the City of Darebin who’ll be wishing they’d acted sooner, give us a call to discuss the best way to ensure that not only are you selling in a sellers’ market, but you are also well placed to become a cashed-up buyer if the market swings in the buyer’s favour as well!