Spring is traditionally seen as the best time to sell a home, when the weather is warming
up and buyers become more active. However, there are a number of studies which have
revealed that autumn is equally as good, if not better than, spring to sell a residential
property.
We look at the reasons why below and provide some tips on preparing your home for a
sale in autumn.
The benefits of selling in autumn
The primary reason why autumn can be an advantageous time to list your home for sale
is that there are often less houses on the market at that time, so there is less
competition.
As spring is the time when most home owners put their property up for sale, the market
can become flooded with stock. An increase in stock can discourage buyers from paying
premium prices because there are many other buying opportunities. In contrast, reduced
stock in autumn increases competition between buyers.
Another benefit is that, by autumn, many buyers have recovered from the busy
Christmas holiday season and are ready to focus on progressing their property search.
Buyers may have made resolutions for the new-year to purchase a property and will
actively start looking in the early months of the year.
Tips to selling in autumn
The key recommendation for selling in autumn is to list your property as early in the
season as possible. The weather is still warm in March and people are inclined to go out
and attend open houses. April is less favourable, because of the many national events
which take place (Anzac day, Easter often falls in April, school holidays) and due to the
fact that many families choose to go away at that time. Furthermore, as the weather
cools down in May, buyers start heading indoors.
Sellers should be mindful of changes to daylight savings in some states in April,
particularly when booking times for open houses.
The weather can be unpredictable in autumn, so care should be taken to keep the home
comfortable during open for inspections. This might mean checking that both your
heating and cooling systems are in good working order before arranging inspections.
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Finally, thought should be given to the presentation of your garden. This might include
planting flowers that bloom in autumn and ensuring that all dead growth and weeds are
removed.
Conclusion
The real estate market is impacted by a number of factors, including the state of the
economy, local supply and demand and interest rates.
However, consideration should be given to listing your home for sale in autumn, when
less competition and mild weather can facilitate a speedy sale.
The legal process for selling your property involves some forward planning and
preparation. Our team of property specialists can help by preparing the documentation
and advising you on the process.
If you or someone you know wants more information or needs help or advice, please
contact us on 02 9191 9293 or email mail@rnlegal.org