Blooming flora and sun kissed breezes; what is there not to like about spring. Not only is this time of year one of my personal favourites but it’s also one of the best times to sell a house.
In the real estate industry, spring has long been identified as a busy time in property and for many years I’ve contemplated the reasons why.
Does being the busiest equate to being the best or most ideal time to sell property?
Not necessarily, but I’ve always believed there are a combination of factors that go into the best time to sell.
Here are three (3) reasons why people traditionally regard spring as the prime buying and selling season for real estate in Brisbane.
Sellers can achieve higher property prices
Real estate agents have long been singing the tune that selling in spring will attract a higher selling price. Whether this is true or not is debatable and I’m one to believe there are many factors at play in this scenario, one being simple supply and demand. As most savvy investors will know, house prices are somewhat influenced by the forces of supply and demand. As much as I don’t like to admit, market hype in real estate can be a huge driver of buyer, seller and investor behaviour and given this, agents typically use spring time to boost sales. Sellers are pushed to list now because buyers are in the market and ready to buy before Christmas, so coming back to my argument on supply and demand, if listings are tight and buyers are abundant, a higher selling price is typically the result.
Buyers are settled for Christmas and the Start of the School Year
The ‘moving bug’ has now begun! Two prime motivators for buyers have always been Christmas and the start of the school and university year. If a move is on the cards, most buyers will be scouting around during Spring to coincide settlement dates with Christmas and the new year. I’m sure you’ll agree there’s nothing worse than being homeless or mid-way through packing during the festive season when you’d rather be enjoying quality time with the family, opening presents and planning your goals for the New Year.
For mums and dads it’s even more important to consider school catchment areas to ensure the kiddies get a foot in the door of the right school. School catchment zones are fast becoming a non-negotiable on the buyer’s checklist these days and sellers should be ensuring their agent is checking the catchment of their property before settling on a selling price. I’ve seen buyers fight it out over a property just because it was located in a good school catchment zone.
Ideal selling conditions
Flowers in bloom, luscious garden beds, warm air and longer days all work together in setting an ideal selling scene. Sellers who have gone to work in the winter months to perfect their renovations can now reap the rewards of coming on the market in the ideal selling time. Historically, buyer activity in the Brisbane area simmers down during the summer holiday months, so the lead up time of spring is typically busy because of last minute decisions to move and get in before Santa arrives. Spring will often draw emotionally driven buyers who fall in love with blooming gardens and light filled spaces. With the days being longer, buyers now have more time to inspect properties. Rather than struggling to make it to an inspection after work before the sun goes down, buyers can hang around a little longer whilst there’s still decent daylight. There are occasions when buyers make appointments for late in the day only to find they have run out of light. You may be blessed with a view from your home that embraces the city lights and will capture the heart of a Buyer. However, for many homes, property inspections and decisions are best not made in the dark if it can be avoided. Shadows and dark voids can create uncertainty about spaces in your home.
But with the spring selling frenzy also comes disappointment and frustration; from both sides of the fence. With more properties coming on the market, buyers get fussier and sellers need to up their game to make their properties as attractive as possible or risk buyers turning their noses up for the next property. This is where a good agent can give the right advice on how to present your home so it sits at the top of the buyer’s list.
This time of year can bring a flurry of buyers and I’ve seen what happens first hand when competition gets fierce, buyers miss out and disappointment sets in. If the market is flooded with buyers, perhaps a Buyer’s Agent is the next step for investors and home buyers who are sick and tired of missing out.
Keep in mind that when selling property, prices are not only driven by the season, but as you can see, the time of year certainly does have some sort of an impact.
Want to Know More? Check out Our Home Sellers Checklist for getting the best result on the Sale of your home.
If you want to present your home in best light possible to sell in spring, give me a call. I have some great tips and tricks to share.
Telephone: Call Barb on 0412 765 041
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