Like many of us, the property market generally takes a break over the summer holiday season. But strategically, it can be a worthwhile time to sell.
With traditionally fewer listings on the market, your home may enjoy more prominence and that could push up prices if demand is strong.
The sun is shining, there’s a more relaxed holiday vibe in the air and the market can heat up just as much as the weather if conditions are right.
PROS
Less competition
Spring is known as the ultimate selling season with gardens in bloom and the weather warming up, so many vendors would have already listed their properties to make the most of the peak time. That may serve as a benefit for sellers seeking a summer sale. If you’re listing your property for sale at the end of January or in early February when there are likely to be fewer listings, it may mean your home stands out from the rest. The combination of low supply and strong demand could also be a boon, meaning an even better sales price for your property. But remember, there may also be fewer buyers who some taking an extended break.
Outdoor oasis
Summer is all about hot weather and being outdoors. If your home lends itself to an outdoorsy lifestyle, summer is an ideal time to capitalise on these aspects. Highlight features such as beautiful outdoor entertaining areas, alfresco spaces, swimming pools and other recreational drawcards, like tennis courts or open lawns. Similarly, if you are selling a waterside home or a property near a river or beach, summer can be an opportune time.
Back to school, work deadlines
Buyers who might have missed out in the spring market make summer a natural extension of the traditional spring selling season and set themselves a deadline to purchase before end the holiday season. This sense of urgency could work in your favour.
More time to inspect
Generally, buyers will have more time to invest in their search for a perfect new home over the holiday period before the working year and school year starts in earnest. While some buyers may be on holiday, keen purchasers or those with a deadline to meet will make house hunting a priority.
Transient times
December and January are usually highly transient times, with people starting new jobs and children returning to school so you may find additional interest in your home due to these movements.
CONS
Preoccupied buyers
While many prospective buyers might have time away from work, they may find themselves with an even more hectic schedule with the lead up to Christmas, entertaining family and friends. There’s a good chance a much-needed trip away to rest and recoup will take precedence, so some buyers may put house hunting on hold until after the holiday season.
Heatwave horrors
It’s possible that buyers may shelve plans to attend open inspections if the weather is particularly hot or overwhelming. No one likes to feel uncomfortable, especially when making a significant decision like purchasing property. Buyers may prefer to raincheck the revolving door of property inspections at the peak of a heatwave when they would rather be chilling in the air-conditioning, be at the beach or take a dip in the pool. It’s worth considering particularly severe weather conditions like heatwaves when planning inspection times.