When the sun finally starts to show itself, everything seems better. The flowers are starting to bloom, people are talking about the summer holidays and going to the nearest beer garden after work is almost in reach again. The question I hear, day in, day out, from people considering selling however is: should they wait until spring to sell?
It’s true, you can’t deny that you do see more properties on the market as you approach this time of year. People aren’t consumed with the madness of Christmas or the joy of the summer holidays; people suddenly seem motivated and want to get the ball rolling. However, there are some things to consider if you too have been caught up in it:
- Competition – probably one of the biggest things to consider. Yes, there may be more buyers around, but that means there are also more properties also up for sale, and therefore more houses in your price category as competition. Buyers can be pickier and less committed (on the off chance that something better is about to come up), and may expect you to be reducing your price. After all, it’s simple supply and demand economics.
- Time wasters – with more property for sale, you are bound to see more people who are ‘just browsing’ booking in to view your property. This seems much less less likely in the winter months, but as it gets warmer you see a rise in people just wanting to have a nose around houses (particularly if you have a nice garden!)
- Urgency – if you are the sort of seller who isn’t in a rush, then it might be worth holding off as people buying in spring often have more deadlines to adhere to, particularly relating to the academic year: catchment deadlines, having children settled in in advance of the new school year, job transfers or changes, planned summer holidays…
- Market – think about your target market, and what the chances are of them searching for property at this time of year. If your property is a family home, then you will want to sell in spring rather than autumn for many of the reasons above; it pays to plan ahead and list tactically (if you yourself aren’t constrained by these deadlines!)
Don’t forget, it’s important to make your property look its best ready for viewings: check out my other posts for help and advice on this.