Thanks to La Nina, the recent weather patterns have made it hard to believe spring has actually sprung, and that we’re at the start of the peak real estate selling season.
One of the most common questions asked of a real estate agent is why spring is the best time of year to sell? At our agency, we see that spring brings out the buyers. The days are warmer and longer, and there’s always a sense of renewal and optimism.
The rising inflation and mortgage rates may temper the mood, but sellers should be confident that our local market remains buoyant. There’s more volume coming to the market, and well-presented properties are achieving great results.
The exuberance of the past two years could never last forever. Yet, we continue to enjoy strong interest from buyers seeking to move into the area.
So, choosing a spring or summer sale will still work in your favour if you’re looking to sell in the short to medium term.
But don’t be overly influenced by Mother Nature’s seasons. It’s important to sell at the time that best suits you. For example, you may need to synchronise your move so your children can begin at a new school with minimal disruption.
However, spring is an optimal time to test the market because it has traditionally achieved the fastest selling cycle and best prices.
These key points may help you decide whether you should go to market this spring or bide your time and wait for summer.
Talk to a trusted agent
Economic dynamics have changed, affecting demand for real estate. Ask local agents about the buyer behaviours they’re witnessing and the features of a property that command a premium price.
Make sure you’ve rectified any structural issues with your home before putting it on the market. Don’t rush into a spring campaign before your home is ready for buyers.
Presentation is key to selling a home and achieving a great price. That’s never more true than for a spring sale. Declutter your home, tidy the garden and give any tired rooms or a weather-worn exterior a lick of paint. Do it now, and you can still launch a spring campaign.
With more people looking to purchase, you should receive more offers. This competition among buyers can help sustain your asking price or achieve a great result at auction.
Spring attracts more properties against which you must compete. Be prepared to be flexible on price and even settlement dates if you need to cut a deal. Holding out for a higher offer may see your property languish and lose value. Your marketing campaign must target the correct buyer demographic.
Curb appeal is critical
When preparing your home for sale, focus attention on the street appeal. A great-looking garden full of spring blooms can be a real winner.
Light it up
Do everything possible to bring spring indoors. Ensure the maximum amount of light is coming into your home. Cut back any shrubs or trees that might filter light. Pull back the drapes and move furniture away from windows.
Be an entertainer
An entertaining area is a huge plus in the spring and summer months. It’s worth enhancing or creating a barbecue area. And why not add some stunning pot plants to soften any dark or empty corners of the garden.