Why people sell in spring
The temperature is warming up, Jacaranda trees are beginning to bloom and an influx of ‘for sale’ signs have popped up in your neighbourhood – spring is well and truly here.
It is a commonly held belief that spring is the best time of year to sell, with many sellers often holding out until the end of the year to list their properties. Vince Tripodina, Director of Benchmark National Moorebank, says the reason why the real estate industry heats up during the spring season stems from a multitude of reasons.
“Some people feel the warmer months assist with making their property appear more attractive to prospective buyers. Gardens are greener, swimming pools are more inviting and the sunlight gives homes plenty of natural light – which can be lacking in winter. Everything appears more vibrant, and with presentation of paramount importance, sellers feel the warmer months can help with the selling process."
“Buyers tend to be more active later in the year, as many hope to be in their new home by the holiday period. Families like to be settled in their new home so that children can be enrolled in their new schools before the new year commences. This certainly can make for favourable selling conditions,” he adds.
Although spring proves to be a busy period for the real estate industry, it can also lead to more competition on the market. Prospective vendors should ensure their properties are presented well to attract buyers.