We often get asked when is the best time to sell your property. Like anything in real estate there are no absolutes, it is a judgement made on the basis of probabilities of many factors. Winter is generally regarded as the low season for selling on the coast. This judgement is mainly made on the decreased foot traffic that the coast experiences at this time of year. Interestingly in the Internet search figures show that outside of January, the numbers remain relatively stable year round. What this indicates is that there is a spike in passive buyers (and dreamers) in the holiday season but that the amount of truly active buyers does not fluctuate year round dramatically.
There are three key deciding factors as to whether your property would sell well in winter. The first is the type of property it is. If your property enjoys very good northern light that gets flooded with low winter sun or if it has a warm cosy feel that benefits from an open fire blazing – then winter is your season. If your property is in an exposed position that is subject to strong cold winds then maybe it’s not.
The second factor is the amount of competition that you have from other properties that are for sale. In winter, stock levels are generally lower and this can really make your property stand out to potential buyers. The third factor is the overall state of the market and this varies from year to year. Currently interest rates are low and the property market is active. Taking advantage of this buoyant climate is often more important than all the others.
Just like there is no perfect piece of real estate, there is no perfect time to sell. Every season has its pros and cons. Hopefully with these tips you will be able to make the right decision for your property. If you need someone to help you weigh up your options we are always happy to help without obligation.