The sales season: when is the right time to sell your property?

Congratulations! You have decided to take the leap and sell your first property! This is a momentous and life-changing decision in the very best way. But, there are 365 days in a year and every day there are properties for sale all across Melbourne, so when is the best time to sell yours? How can you set yourself apart?

Unfortunately, without knowing specific details such as location, property type or age it's not possible to give you a definitive answer, but what we can do is arm you with some general information on the market trends throughout the year.

The easiest way to segment the year is into the four seasons: spring, summer, autumn, and winter. Let’s dive deeper into each season to get an understanding of how the market reacts during each time of the year.

Spring

Many believe that spring is the best time to sell your house on the basis that after the long hibernation of the colder months, there will be an influx of buyers returning to the market looking for property. The more buyers there are, the more competition there will be to make a purchase inevitably driving up your selling price.

All that being said,yes, a large increase in home buyers to the market will indeed increase the overall prices of property, if the supply stays the same. But that’s the catch. Undoubtedly, you will not only be the only one wanting to capitalise on the increased buyer activity. Many other sellers will be jumping into the market at the same time. What does this mean for you?

Think of spring as Boxing Day sales for the property market – all buyers and sellers will be competing loudly in an overcrowded market. It will be very hard to stand out from the crowd if the market is oversupplied, even when there are more buyers. This is especially true in cases where your property does not have any distinguishing features; - listing in this market may not be ideal for you.

On the flip side, if your property is unique and really stands out from the crowd, spring is your season.

For example, if you have features such as an airy courtyard, an in-ground pool, or light-filled north-facing living space, these are desirable selling points that would help you capitalise on the abundance of buyers in the market and their competitive natures. During spring, gardens are in full bloom and the weather is ideal. This is a great time to showcase your home if you have a beautiful well-tended outdoor area to show off. Also, if your house is poor at regulating indoor temperature during the hotter or colder months, it may be better to list your property during the spring months, as the temperature will be moderate and your buyers will not need to sweat or freeze while they view your property.

Summer

The days are long, and the weather is hot. Many see this as a bad time to sell for these very reasons.Beyond that, summer lands at the start of December, which is the lead up to Christmas. People are wrapping up their search so they can enjoy the festivities (and not to mention, spending extravagantly on gifts and getaways that the last thing they would want to consider is spending more money). Then the New Year rolls in and people are struggling to emerge from their holiday haze.

However, not all of summer is a no-go.In late January through to February, there is traditionally an undersupply in the market due to the stigma of selling property around this time. But this is your chance to really stand out from the crowd and to maximise the exposure that your property will have on page one of popular real estate websites.

Also, take into consideration any summer-oriented features your property might have. This season can be perfect if you are looking to sell a waterfront property or one with a pool. You might even have the perfect backyard for barbecues. This will show the property at its best and buyers will be envisioning themselves cooling off in the water or having friends over for beers and sausages as the summer temperatures hit a high.

When the temperature starts to get uncomfortable, make sure turn up the aircon inside the house to make it as enjoyable and comfortable for potential buyers as possible. If it’s hot outside but cool inside, buyers will spend more time inspecting the interior of your home..

Autumn

The warm colours of autumn make for your best allies, as they will showcase your home against an inviting backdrop of beautiful fall tones. This is especially true of homes in leafy, well-kept suburbs as your ‘curb-appeal’ will be through the roof. Also, the cooler weather off the back of the hot Summer is an appealing time for home buyers to resume their search at a more leisurely pace. While not as busy as spring, there is still plenty of action though on a more relaxed scale. With the market activity turned down and fewer listings to compete with, this is an ideal time to sell your property. You will find less seller competition, meaning that the buyers that are leisurely trawling the listings for a property to buy will have an easier time to find you.

Let me emphasise again, that with the warm appealing autumn tones, your property will be especially appealing in suburbs lined with trees and plant-life. You’ll find buyers will be more drawn to your property but it’s important to ensure that any excess fallen leaves are swept and thrown away – you want your buyers enjoying the aesthetics of autumn and not thinking about the huge gardening job ahead of them. Just like spring, the weather will be more moderate and for properties that don’t have climate control or tend to get unbearable during the winter or summer months, this is a great time to showcase your property.

Winter

Days are shorter, darker, colder (and grimmer) and overall, it's a fairly quiet time for the property market. These months generally see the lowest activity from both buyers and sellers. In terms of perception, this time is seen as the worst time to sell your property. But this just isn’t true for all of them.

Despite the market being quieter, this could be an ideal time to list your property if you’re looking for a quick and fair sale. There are significantly fewer for sale, which means less competition for your listing making yours more visible to potential buyers. On top of this, buyers that are searching during this time of the market generally are looking to secure a property within a short period.

The main challenge is that it can prove difficult to showcase your property as days are shorter and sunlight is limited. However, if your house has features such as a fireplace or a rustic and cosy timber structure, this time of the year may benefit your sale. Making your house warm by preheating before any inspections will also show your house at its best, and potential buyers will struggle to leave and brave the cold outside. You could even go the extra mile and bake cookies or put on a pot of coffee to give your home that extra inviting lure.

Hopefully, by reading the above, you have come to the realisation that there is not one single season that is definitively better than another when it comes to property. The ideal time of sale really depends on your individual property, location, and circumstance. Meditate on the unique features of your house and consider what features (and what deficits) would determine what time of year is most suitable for your sale. Most importantly, seek to understand what sets your property apart by thoroughly researching your suburb, evaluating your competition, or seeking professional advice.

Some other key factors to think about when looking to sell your house include preparing and staging your property as well as finding the right agent to sell your house.