When selling real estate, the timing could influence the sale price, how long your property stays on the market, and your overall selling experience.
It’s commonly believed that specific times of the year are more advantageous for selling properties, but it should not be forgotten that individual circumstances generally play the most pivotal role. Let’s take a closer look:
Winter months (June to August): Winter is generally perceived as a more challenging time to sell. Colder weather tends to deter buyers, with lower home open attendance generally recorded over the winter months. However, sellers can also be put off by the idea of having to prepare their house during this time which can mean less competition. The more motivated buyers will remain active during this time, and with fewer houses on the market to compete against, sellers can still achieve a great result.
Spring (September to November): Spring is a popular time to sell in WA. The weather is pleasant and gardens are blooming, meaning most properties are looking their best. However, this also means the market is typically more saturated with listings which can mean increased competition to sell against.
Christmas Break: Mid-December to mid-January sees a significant drop-in real estate activity. People become preoccupied with holidays and events, leading to a decline in market activity. This doesn’t usually start picking up pace again until mid to late January.
Easter: Easter, which usually falls in April, can be a quiet period in the real estate market with many prospective buyers and sellers taking vacations and this also coincides with the first set of school holidays.
School Holidays: As with the Easter holidays, the July and October school breaks are a time where families will take off for short getaways, typically more likely in the first week of the break as opposed to the second week.
Public holidays and special events: not as prevalent as school holidays but there are patterns of changed market activity as people often take the opportunity to head out of town for long weekends or focus on special events such as the AFL Grand Final.
Considering these patterns, and that there is rarely a 4-6 week stretch that is entirely unaffected – is there actually a perfect time to sell?
While there are always exceptions to the rule, our view is, sellers should give more weight to their personal circumstances, such as work relocation, family changes, or a change in financial position, when considering the best time to sell.
While seasonal and holiday patterns in Western Australia can play a role in determining the ideal time to sell, it’s could be more important to consider your personal circumstances. Engaging with a local real estate expert, staying updated on market trends, and evaluating your individual needs will collectively contribute to a strategic and successful property sale.