Spring is known for being real estate’s busiest season. Buying and selling numbers go up by more than double compared to June and July, usually peaking in the October-December period.
If you’re thinking about putting your home on the market, now is the time to act.
The key to making the most of the spring selling season is preparation. Here are three reasons why getting in early will help you reap better rewards.
- Have access to the most committed buyers
You’ll get the best results if you list your home when buyers are keenest. And that means being ready in spring.
After the winter lull, committed buyers are fast to hunt for deals. They know that the market is on its way back up, and they want to beat the crowds (and the competition that comes with them).
Statistics show that auction clearance rates are commonly higher at the start of spring than in early summer. This is because the demand is there, but the supply isn’t.
It can take several weeks to get a property ready for the market, and most sellers don’t begin the process until buyers are already looking. This creates a lag period, before supply again builds towards Christmas, at which point it again goes quiet until autumn draws nearer.
Getting ready early is the smart option. Less competition means more attention for your property, and motivated buyers means better deals.
- Stay ahead of the media’s influence
It might not sound like it’d have much effect, but the media does in fact influence the property market.
If auction clearance rates lag in early to mid-spring, the market looks poor. The media then pick up on this and release doom-and-gloom predictions – and the market responds accordingly.
This creates a self-perpetuating cycle that the Financial Review says “is as predictable as it is dispiriting” – seemingly low market performance draws media attention, which in turn influences the market.
Being ready to sell before this cycle begins is a good idea.
- Have more time to buy your next home
Unless you already have a second home to move into, you’re probably going to need to purchase a replacement for the property you sell.
When’s the best time to buy? When supply has peaked and sellers are desperate to get rid of their properties before the market cools down for next year’s winter hibernation.
If you manage to get your home sold early in the season, this gives you a huge window of opportunity for finding a new one. In the best-case scenario, you could even have everything wrapped up before Christmas: old home sold, new home bought, relocation completed.
Most of the time, being prepared pays off. The earlier you get your agent picked out, advertisements created, listings posted, finances sorted and so on, the more of a head start you have on the people who are flying by the seat of their pants.
To beat the rush, contact Madeleine Hicks Real Estate today on 07 3355 6845!