When selling your house there are several times a year when you are more likely to get a better selling price on a house than at others, and some times that you’ll sell a house faster than others.
To asses the best time to sell your property ask yourself the following questions:
- How many properties are currently for sale in my suburb? If there are only a few than your home will face less competition and get more attention from buyers.
- Are interest rates rising or falling? Rising interest rates erode buyers’ purchasing power so they can pay less for properties and you’ll want to sell now. Falling interest rates increase buyers’ purchasing power and they are more likely to pay a premium so you may to wait until rates drop further.
- Is there anything that will improve or depress the local economy & community? An improved local community and economy attract buyers. For example the State Highway 20 Waterview Extension will ultimately improve accesse into the area making it desirable for buyers. However in the short term it may cause interference with access into Waterview and affect residents’ lives making it less desirable for (short sighted) buyers.
- What is your goal in selling your property? If you are going to buy a different home then sell in winter and enjoy the selection of many properties that usually come onto the market in Spring and Summer.
- Are there buyers out there looking for a property like mine? Call your local real estate specialist and ask if they have qualified buyers interested in your style of house. Selling property need not be seasonal – if you have a great sales consultant who is marketing your property well you will get a good sale price.
(This is part 28 of my 30 day blogging challenge – 2 more to go!)