Selling in Winter is a Golden Opportunity Not to Miss!
Real estate is an oddly seasonal business in Australia, yet that can work against those sellers who just follow those trends. If you’re a seller, you have a golden opportunity to get a premium price for your home in the winter season.
Some people believe winter is not a great time to sell. We at
Paul Hill Realty Hope Island are here to tell you that this is not so, we have data that backs our claim.
Buyer Demand Typically Outweighs Property Supply
The winter season tips the supply-and-demand scales in favour of sellers. This maybe because many still subscribe to the idea that winter’s a bad time to sell, which means they are less likely to place their house on the property market during that season.
Yet we can presume that we inherited this idea from our northern hemisphere cousins and it’s just not relevant to Australia because it’s not like we get extremely heavy snowfalls or any snow for that matter in Queensland.
Winter is as good a time as any to sell. It all really comes down to the market.
It stands to reason, then, that sellers looking to get top dollar would want to list at a time when there’s less stock on the property market, yet buyer demand remains strong.
Looking at REA Group’s data from 2018 to 2021, it clearly shows that from June to August there were on average 17 per cent fewer listings than there were in the months of September to November.
That suggests that supply on the market is considerably reduced during the winter season than in springtime. While that mythical spring selling season that you have heard a lot about does draw a substantial increase of listings at once, this isn’t necessarily going to coincide with a surge in buyer activity.
According to REA’s statistics, winter listings were -14 per cent lower than in spring in 2021. Comparative, CoreLogic data reveals that the number of sales in winter was only -8 per cent less than in springtime.
It’s essential to keep in mind that while these two data sources do have their distinctions, they do together paint the picture of winter being a stronger market than spring for sellers.
Additionally, we need to mention here that buyers aren’t seasonal. People are looking at buying a home in any season. We know that during spring and summer that there are typically a great deal more supply on the property market, so the potential buyer pool tends to thin down a bit.
Motivated Buyers are Easy to Spot!
A major part of the house selling process is finding a genuine buyer who will remain solid until the end of the settlement.
During the winter months, separating hot as well as motivated buyers from the cold ones ends up being much easier. Vendors can usually safety assume potential buyers that come to an openhouse on a grey rainy day are motivated and seriously looking to buy.
Numerous Agents Advise Selling in Winter to Achieve Top Results
Winter to lots of agents presents a golden opportunity to beat the spring rush and secure an excellent sale price.
Many sellers have the mindset that listing in the warmer months is the way to go. The trouble is, that everyone has the exact same idea, which makes vendors unnecessary competitors.
The best results in the property market happen most often in winter. In winter there aren’t many properties on the market, so your potential buyers are fighting over what is available and they get good results.
People often forget the supply and demand rule. If I’m a vendor I want to be on the market in July, before everybody else.
Buyers don’t suddenly need to not buy a home in July… they still need somewhere to live. We just have this preconception that spring is selling season and it becomes reality because we make it a reality. Don’t wait for the oversupply to hit!
Winter is normally when one achieves the best prices. Really the less competition you’ve got when your property is on the market, the better off you’re going to be.
It’s Just the Best Time to Upgrade or Downsize
If you are wanting to either upgrade or downsize from your present home, a sale in the winter season can boost your chances of scoring your ideal home in the springtime when more stock comes onto the property market.
You Might Ask … Should Sellers List Now or Wait?
Of course, every seller’s circumstances are different, and generally, the right time to list your property is when you’re ready.
For sellers wanting to attain a top sale price, coming onto the property market this winter may be ideal – not just for the reasons that were mentioned above, but also due to the fact that an widespread property price correction is on the horizon.
With interest rates tipped to reach as much as 2.5 per cent or more, prices across Australia might drop between 10 to 15 per cent over the 18 months ahead.
It has been forecasted by Westpac that for the rest of 2022 and throughout 2023 there will be significant price falls.
Sellers that are additionally aiming to purchase in the same property market can be ensured that both sides of the process will certainly balance each other out as conditions change.
A reduced list price can be countered by a less expensive acquisition. Decreased buyer demand likewise means less competition when looking for a new home to purchase. Effectively, it all comes out in the wash.
The two of the best ways to get ready to sell this winter is by; getting an estimate of your property’s value and speaking with a top local agent who can advise you on your home and the current market.
Remember experienced property managers can save you time, money, and headaches.
If you are a property owner looking for an experienced property manager with your best interests at heart – look no further than Paul Hill Realty Hope Island! You won’t find a team that is more respected, reliable, and trusted in residential property management.
Paul Hill Realty office is located at Hope Island, we manage residential properties anywhere on the Northern end of the Gold Coast. Paul Hill Realty Hope Island is your best choice in property management.