by Michael Dowling
With winter fast approaching I am getting a lot of people asking me each week ‘when is the best time to sell?’. The answer is very simple… The best time to sell is when there are less people selling.
If you sell your home when it is in isolation from others, then natural competition will be generated as buyer demand is consistently high throughout the year regardless of weather or seasonal conditions.
At the moment interest rates are remaining at record lows and buyer confidence is extremely high. There are a lot of people considering putting off their sale until Spring. Unfortunately, if all of these homes come on the market in Spring at the same time, whilst they will look fantastic and the weather is warmer, they will be competing with many more properties for the right buyer therefore not guaranteeing the best result.
If you are considering selling and maximising your profit, consider doing so over the winter months in order to achieve the most competitive result.
Last weekend, I sold 38 Addington Ave, Ryde. It had 14 registrations at Auction and ended up selling $170,000 over reserve. Last October, due to the amount of properties that hit the market at the same time, it was difficult to get any more than 4 or 5 registrations at Auction, therefore creating less competition.
Last week 38 Addington Ave, Ryde sold for $170, 000 over reserveIf you have any questions regarding your timing or how to position your property when selling to maximise your profit feel free to call me to discuss further.I hope this helps and have a great week.
McGrath Estate Agents
0418 637 593