Thursday, July 01, 2010

Spring bumped as optimum time to sell a property

"The notion touted around property markets that spring is the ultimate time to sell could now be a myth according to research analyst Cameron Kusher..."

Well we have been spruiking it for years, and now it is official, June has been statistically proven to be the busiest time for property sales in Adelaide. RPData's latest report, released this week, is compulsive reading for property sellers especially if you are holding off to sell in spring.

We discussed this very issue on Toop.TV just 2 weeks ago, with RP Data’s Cameron Kusher (log onto Episode 34 and have a look). Cameron’s looked into the figures and surprise, surprise, in Adelaide Spring selling is rated the 3rd best time to sell.

We didn't need the stats to know this but wow, were we amazed at the results. They are spot on with our own local experience and align with the years of advice we’ve provided to sellers.

According to Mr Kusher, "while spring sees the greatest number of listings, there is evidence to show that these do not convert to the greatest number of sales. Within Adelaide, June has proven to be the busiest month for sales".

The report is a national one and is available here..
PropertyPulse (pdf)

Sales and listings (pdf)

Essentially, Spring is overrated by sellers. Feeling good with the arrival of spring sunshine and the gardens ‘taking off’ clearly doesn't translate to better sales. Reality is that buyer numbers remain very consistent over the entire year, but what occurs is their activity increases as more stock enters the market. Currently there are so few homes coming on the market that even with wavering economic confidence sales have remained strong. It is a fact that buyers are ultra discerning, banks tough to deal with and advisors cautious (if not negative), yet selling in winter continues to bring great outcomes for many sellers. Buyers simply have so few options.

It is winter where stock levels bottom out and when competing properties are at their lowest level, therefore as a seller you have the best competitive advantage.

So after 35 years in the business, finally it is a fact, Spring is not the optimum time to sell property.

Anthony Toop, Managing Director.
© Toop Real Estate Group

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