Getting an Edge in the Real Estate Market

Most home owners believe the best time of year to buy or sell their property is in the summer, and the worst is winter. In fact, property sales are less susceptible to the change of seasons than you might expect.

The Real Estate Institute says that March is the most active month of the year, with January the least active.

In a typical year, for example, there would be 258 sales a day in March, 190 in January and 216 in July.

The Institute says there are hidden “windows” of opportunity during the year to list a home for sale and the best time could be in the middle of winter, a time traditionally thought of as the worst for the property market. For example, a two-bedroom house in a small South Island town last month sold before it was officially listed for sale and for just slightly under the asking price.

Oddly, seller behaviour is out of sync with buyer activity. The Institute says, “The majority of new property listings tend to flood onto the market in February and March and again in October and November. Such is the surge that close to 40% of all new listings in a year pour onto the market in just these four months in the expectation that this is when buyers are most active.

“Equally, in contrast, the winter months show the lowest level of new listings, falling to barely 20% of the annual total of all new listings hitting the market during the three months of winter.”

This offers an opportunity for astute property sellers. Listing in winter could give your property greater exposure at a time when there are fewer listings to compete with. Buyer interest does not decline to the same extent as listing numbers and so there is greater demand for properties at this time of year.

The Institute suggests, “Maybe the best advice is be brave and be different, and that sale may come sooner than you think, giving you the opportunity to be buying just as all the new spring season listings hit the market.”

If you would like to read the whole article, you will find it here: http://unconditional.co.nz/blog/is-summer-really-the-best-time-to-sell-a-property/

 

Source: realestate.co.nz
http://unconditional.co.nz/blog/is-summer-really-the-best-time-to-sell-a-property/

 

© KEPA 2015

Insurance Company
Insurance Company
Insurance Company
Insurance Company
Insurance Company
Insurance Company
Insurance Company
Insurance Company
Insurance Company
Insurance Company