What Is The Best Time of Year To Sell Property?
You want to sell your house in the future, and you want to get the most money you possibly can for it. So can you plan for the perfect time to put it on the market? As with so many other aspects of selling a property… It depends. There are so many variables with some even resorting to astrology to give them the edge. The fact is, there is no perfect science or alignment of planets that will give you the answer. More people list in the NZ spring/summer, less people list in winter. In the summer months, people are in a rush to secure the right home, in winter, buyers have more time to consider options.
How can you tell if the current property market is strong?
Before beginning the home selling process, take notice of market commentaries from multiple sources. Real estate agents will often send regular emails updating the market conditions in your area. These are important but it’s also wise to take multiple viewpoints into consideration. Also be aware, that in times of a strong market, commentators are more than willing to provide their opinion, but in slower markets you will see less headlines. This is often a good indicator of a slow market.
Being informed about the market is an important aspect of your selling process. The more you know and understand, the better informed and prepared you can be when discussing strategies with the professionals you have hired.
It’s also important to note that if you are buying and selling in the same market, it’s unlikely that you will be significantly impacted. It’s possible you may not be able to make unconditional offers without first selling your home in a slow market as bridging loans may be harder to come by.
Do houses sell for more at different times of the year?
Time of year is definitely something to take into consideration when listing your home for sale. Don’t be fooled into thinking there is only one time to sell your home though.
Should I sell my house in Winter?
In the winter months, selling your property can be slower, but with less stock, your property can get more attention. Sellers who decide to sell in winter often have homes that get good winter sun, have outdoor areas not affected by damp or rain and have well insulated, warm homes.
The Spring Rush
Traditionally, selling in spring has been the most popular time to sell and buy homes in New Zealand. Sellers tend to want to get their house on the market at the time when buyers are most active, however, recently the market has shown that spring might not be the only time to sell.
Having your home on the market along with dozens or hundreds of others might take interest away from your place. In the scramble, homes can get lost. In the spring and summer months, the cycle of homes or being on the first page of trademe results can last less than a week. If your marketing or pricing is even a little off, the risk of being buried is high.
Does location affect when I should sell?
Your location within New Zealand can actually make a difference in when you should sell your property. Having a local expert on your side can make a big impact on the end result for your homes sale price. This means that finding the right Real Estate Agent can be a big decision. Thinking about the market your home is in can lead to the right results. Selling a home in Northland vs Wellington or Christchurch can mean different times of years are most profitable. Are you listing in a hot market like Tauranga or Hamilton? Or a reasonably static one like the West Coast? With New Zealand being so diverse in climate and market conditions, thinking about your situation and how your home fits in is the best place to start.
Does the type of property affect the best time to sell?
When thinking about the best time to sell your home, you should always consider how your property fits into the NZ market. Batches, holiday homes and lifestyle blocks are better marketed in the summer, but an investment property can be just as successful outside of the summer months. Think, is your property likely to be best marketed in a summer or winter month? What time of year best shows off the primary assessets of your property.
That being said, with the current market conditions, New Zealanders are eager to buy at any time of year if the property is in good shape, well prepared and marketed.
Think about holidays and long weekends
When going to market, your Real Estate Agent should present you with a plan that includes listing date and open home schedules among other things. Think about how school and public holidays fit into this schedule. Having your first open home on a long weekend can reduce numbers significantly and ultimately lead to less offers and lower sale price. For example, if you are selling a family home, avoiding school holidays when families are away is a good idea.
What are some helpful resources that can aid me in my decision to sell my property?
The Real Estate institute of New Zealand publishes monthly statistics and reports, including the monthly NZ house price index report. You can find them here: https://www.reinz.co.nz/residential-property-data-gallery
Realestate.co.nz also publish their own report on trends, listing count and property prices. You can find their report here; https://www.realestate.co.nz/tag/new-zealand-property-report
Find your Real Estate Agent with Aframe
All of these factors can be discussed once you find your Real Estate Agent. Finding a local expert who can assess your property is the best way to decide when you should sell. A Real Estate Agent can also give best advice on marketing strategies, help you prepare your home and advice on staging.
The easiest place to start your search for a local expert is aframe.co.nz.
When you list your property on Aframe with some basic details, Real Estate Agents will provide quotes. You can even specifically ask for advice on the best time to sell, then chat with agents in an anonymous, pressure free environment using Aframe Chat. Aframe allows you to compare Real Estate Agent commission and cost structures, as well as get you know your agent and compare advice.