As summer turns reluctantly to autumn here in Sydney, some homeowners will have made the decision to sell their apartment. The next question, naturally, is when is the best time to put your apartment on the market?
What are the benefits of selling outside of spring?
While at one time spring was seen as the main selling season, this has shifted to some extent. Property buying and selling now takes place year round. So the best thing to do is to sell when you need to. In December and January the market does slow down somewhat as agents go on holidays and everyone unwinds at the end of the year. But ultimately, these days there is no set time to sell your property.
That being said, late summer is not a bad time to start researching, talking to agents, and launching your property. We find some buyers are coming back from holidays and thinking about buying, so you can catch those early.
By putting your home on the market outside the traditional spring selling period, you’ll have fewer sellers to compete with. You may also come across buyers looking to get into a property quickly. Plus, there are generally a few buyers still looking from the year before who will be interested in seeing new stock.
Autumn and winter are also good times to have your property on the market. People tend to start searching for houses online in the cooler months if they are planning a spring purchase. If your home has been on the market through the winter, you may notice more interest as the weather starts to warm up. Winter is also a good opportunity to test the market. If you have no luck, you can rethink your strategy and relaunch in spring.
Think about your buyers and what you are offering them
For inner-city apartments, the main buyers tend to be professionals and investors. These people tend not to be as impacted by school holidays disruption. Selling through autumn can be a successful strategy in the Hyde Park precinct, when the parkland is looking particularly beautiful.
Ideally, you are better to wait until the heat of summer is over. This is when people are out and about looking at property, or coming across something as they go about their business in the city. You also need to think about when your home looks its best. If it’s very hot in summer, or cold and dark in winter, you may want to go for autumn or spring sale to ensure it’s as appealing as possible.
Whatever the time of year you choose to sell, ensuring your property feels comfortable temperature wise is essential. On hot days, make sure you have cooled it down well in advance of any potential buyers visiting. And in winter, make sure it feels warm and cosy. If your home gets good winter light, open up your blinds so potential buyers can appreciate it. On this note, also think about the time of day your home feels best, and plan your open homes accordingly.
To a certain extent, the time of year has less impact than market conditions. Right now, pricing your property correctly is key to getting people through the door and hopefully creating some competition between buyers.
Talk to us
As specialists in the inner city and Hyde Park precinct, we are always happy to talk to people thinking of putting their home on the market. We can talk you through our suggestions and help you find the approach that will work for you and your plans. Please feel free to call us today if you are thinking of selling your inner-city home.