Selling in Winter!
It is well understood that the property market moves with the seasons, and many vendors choose to hold off their selling plans in the winter months. This often results in flat market conditions in June through to August, with the market picking up in spring when both gardens and moods improve. However, with the winter months now here, holding off your selling plans until spring does not always result in a higher selling price, and selling in winter is definitely something worth consideration and especially here in Canberra, after all who can deny that we exist in a colder climate and winter comes every year.
The current market conditions indicate that sellers would be wise to seriously consider selling sooner rather than later this year. As the volume of sales begins to increase, we will likely see the number of listings continue to drop, indicating a chance to get your property on the market when demand is high.
A further consideration for would-be sellers is that if many other like-minded sellers hold off going to market during winter, then spring brings with it an over-supply of property to market, buyers become spoilt for choice and downward pressure on prices results. In the current climate, the local property market does not need a surge of listings in the spring.
Buying in winter is also a reasonable idea, as some buyers (like tenants) are more inclined to stay put during the cooler months, giving those that are looking to buy an environment with fewer competing buyers about. Of course, any time of the year is a good time to sell if you are buying and selling in the same market conditions.
With the Canberra climate in mind, most homes here would be geared for the winter months which would mean many homes are lovely and cozy in winter and present themselves well to would-be buyers. Homes that get great winter light can really stand out during the cooler months. Those west-facing windows that were a problem in summer can make for a real bonus from June through August. Draw back the curtains and blinds on all windows and let as much light and warmth in as possible. The focus should be on feeling warm and comfy. So light the fire or switch on the heat, turn on all the lamps and add some warm reds and oranges to your soft furnishings.
If selling in winter, make sure your winter weeds are pulled, any moss and mildew on paths, walls and bathrooms removed and try and hold inspections when the weather forecast is fine and the sun high in the sky.