Spring has sprung! If you’re in the process of considering listing your home for sale, is spring the best time of year to sell?
So, you’ve decided to put your home on the market? With spring around the corner, you may
be wondering whether you need to hurry to get your listing in front of those spring-going house hunters. Because spring is the best time of year to sell your home, right?
Well, maybe. Property researchers have conducted studies on the Australian real estate market concerning the effect of seasonal changes and have made some interesting discoveries. Is spring the best time to sell a property? Let’s find out.
Spring in bloom
Spring is often considered the best time to sell your home. Why? The advantage of warmer weather, floral displays and bright sunshine make spring seem like the best time to sell. Gardens and lawns are at their best, and there is more daylight to illuminate the home’s best features than there was in winter.
Warmer weather also brings out crowds of house hunters to view those blooming gardens and beautifully staged homes. Besides this, potential buyers may be looking to buy their new home and get settled before the start of the school year.
All of this gives the impression that you should wait out winter to list your property in spring. But is that the right move for you? Let’s look at some other factors that affect the property market before you decide to list your home in spring.
The competition
If you choose to list your home during spring, it’s worth remembering that you won’t be the only one looking to take advantage of the benefits of selling in spring. More homes are listed in spring than at any other time of year, meaning your home could get lost in the market. People listing their homes in cooler months may find they have one or two competing properties in the area, whereas listing in spring may have more than ten properties to compete within their area. That is not necessarily an issue in this seller’s market climate, considering how many enthusiastic buyers are out there. It is, however, worth remembering when getting your home ready for sale.
An illusion
The hordes of house hunters trekking through your open house in spring may appear to be an advantage. It certainly isn’t a disadvantage to get your home in front of as many people as possible. But research shows that houses listed in spring don’t actually sell for more than homes listed in winter, nor do they sell faster. So, what does that mean in terms of those crowds?
Simply that there are an equal number of serious buyers out looking at open inspections at any given time of year – the surplus is people looking for a fun weekend outing on a sunny day; an outing such as stickybeaking through open homes.
Serious buyers don’t mind the weather
The fact is, serious buyers, don’t care what the weather is. Consider your motivation when you bought your home – did you wait until spring to get serious about buying? Likely not, and today’s buyers are no different. When they’re in the market for a home, they want to find something as soon as possible – why would they wait for the weather to change?
Selling in a “seller’s market”
The best time to sell a property is in a seller’s market – that is, when the property market is geared towards sellers thanks to a high level of buyers compared to the number of listed properties. Despite the hike in interest rates making it more difficult for buyers to get a home loan, Australia is still experiencing a seller’s market, making now a perfect time to sell.
How to get your home ready for market
If you’ve decided to take the leap and sell your home this spring, you need to get moving to get your home ready for market! Here are some useful tips to help you prepare your home for sale.
Declutter
Throw out, store, or give away anything that makes your home look cluttered;
Remove as much furniture from the house as you can; and
Empty the backyard of rubbish, brick or green waste piles and old patio furniture.
‘Spring’ clean
- Scrub kitchen and bathroom tiles and grout;
- Clean glass windows and doors;
- Thoroughly dust the blinds; wash the curtains;
- Have the carpets professionally cleaned; and
- Wipe down all cupboards and surfaces.
Repair surface issues
- Replace cracked tiles;
- Fill holes or cracks in plasterboard;
- Repaint stained or outdated walls;
- Re-stain timber decks; and
- Repair leaking taps.
Beautify your garden
- Regularly rake up the leaves;
- Spruce up garden beds;
- Prune back dead winter growth;
- Fertilise lawns and garden beds;
- Keep up a regular watering schedule; and
- Plant flowers for instant colour.
Styling the house
- Consider having your house professionally styled;
- Research the latest design trends;
- Style your home to suit your ideal buyer; and
- Remove anything overly personal – take down family photos, and hide away your medications and toothbrushes – this allows potential buyers to see their own belongings in your home.
Is spring the best time to sell your home?
Most people think that the best time to sell their home is in spring because that is the time of year when homes are at their best and more people attend open home inspections. Spring is also the time that your house will come up against the most competition as many other sellers want to list once the weather turns warm.
In summary, it’s more important to consider the overall market conditions and the real estate agent you choose to sell your home – those factors can have a far more significant impact on the success of your property’s sales campaign.
Are you in the process of buying or selling a property? In either case, it’s strongly advisable to seek the assistance of an experienced property conveyancer to guide you through the transaction. Jim’s Property Conveyancing can provide you with comprehensive advice and service moving through your real estate sale. Please call our friendly and professional team today on 13 15 46 for more information.