This is why now is the best time of year to sell
Don't wait until the winter passes and the weather warms up again before you list your home for sale – now is the best time of year to sell.
And the figures back it up.
Analysis of more than 5000 auctions throughout Australia by online real estate auction streaming group Gavl has revealed more bids are placed on properties auctioned in March, April and May.
Auctioneer Justin Nickerson said the figures backed up what he had seen during ten years of working in the real estate market.
Mr Nickerson said because there were not as many properties listed for sale in Autumn it meant there was more competition from buyers and the potential to maximise results.
This also put those sellers in the box seat when it came time for them to buy, because they would most likely be buying in Spring when more properties were listed and competition was not so high.
“It’s all about timing,’’ he said.
“I think the kind of myth that has been perpetuated about Spring being the best time to sell has been borne out of a situation where the most properties come to the market at that time, so people actually see more listings and see more signs,’’ he said.
“But that actually then becomes a counter productive situation you have a lot more properties come to the market but not a lot more buyers, which actually means conditions are less favourable at that given time.’’
"We tend to find that March, April and May tend to be the time that where you have got that nice balance, where there isn’t as many properties on the market, but buyer activity is at its strongest.’’
The Gavl figures revealed the average number of bids in those months, were 24.1, 20.42 and 20.46.
The only other month of the year to exceed 20 bids was February.
Mr Nickerson said the average number of bids was one indication of market activity.