Is this spring the time to sell?
As the calendar ticks over into spring, some homeowners may be wondering whether spring selling season 2022 is the right time to sell.
So, let’s look at the pros and cons of selling in the coming months and whether spring is the time to sell.
The traditional allure of spring
Spring is traditionally a busy time of year in the real estate market with properties often in their prime and people seeking to be in a new residence for the festive season and new year.
That means sales volumes tend to pick up, days on market are a little shorter, and buyers are actively on the hunt for a new home.
But what about this year? After a series of interest rate rises, will demand be as strong? And will property owners get the prices they’re hoping for?
This year’s landscape
This year has seen the real estate landscape shift a little from the heady property prices of just a year ago.
Consecutive interest rate rises have contributed to this, as has the cost of living, which means in some areas of Australia, properties are spending more days on market, and prices have stabilised or perhaps even declined a touch.
That said, the great Australian dream of a home to call your own offers a strong allure.
Properties are still being bought and sold, and there are plenty of buyers in the market.
Sell this spring or not?
If you’re considering selling your home and wondering whether spring is the right time or whether you should wait, it pays to fully educate yourself about the current market and base your decision not on the ‘what-ifs’ but on the facts we know.
Right now, we know properties are selling and the prices are far higher than prior to the pandemic in most, if not all, regions.
We know interest rates increases are taking a slight toll, as is the constant rhetoric of housing market declines in the media.
We also know further interest rate rises are probably on the cards, with the Reserve Bank flagging the fact they will continue to raise rates until inflation is within their target range of 2-3 per cent.
We know every time an interest rate rise comes into play, it reduces people’s borrowing power a little further.
Despite this, we also know there are buyers in the market now, and they are keen to snap up properties that are priced well.
This landscape is likely to extend into spring, but beyond that it’s a little harder to see what might take shape.
Potentially, the end of this year or early next will see the real estate market in a different position, and if you’re wondering where to sell in spring or wait, that’s something to take into account.
It’s emotional as well
Of course, selling a property isn’t just about economics, it’s a personal and emotional decision as well.
If spring is when you’d like to go to market, it pays to ask yourself:
Am I emotionally ready?
Is the property in the best possible condition for sale?
If not, what would need to be done and how long would that take?
Am I up to speed on the market and recent sales in my area?
Do I have an agent in mind who I know, like and trust?
What’s my reason for selling?
In what timeframe would I like my property sold?
Together, this creates the clarity required when it comes to making a big decision about the sale of your home either this spring or at any point in the future.
Looking to buy or sell?
If you’re considering buying or selling a property, why not chat with one of our friendly agents on 1300 438 439 to understand the state of play in your local market?
We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.
