Have you decided to sell your property?
Choosing the best season to sell your property is an integral part of your pricing strategy and an essential determinant of your selling price.
Most favourable times of the year to offer properties for sale
Some periods are characterized by higher buyers' activity and as result by higher demand. Therefore wishing to make a good bargain start your sale at the beginning of spring or autumn.
Whereas the former period lasts till the middle of July and around 40-50 % of yearly real estate transactions are conducted during this time, the latter one ends before Christmas with the respective figure amounting to 30-40%.
There are several reasons why people prefer to buy homes within the mentioned seasons: in spring the families start to plan their removals because the school year draws to an end what means that their children will be able to adapt easier to different environment joining a new school at the beginning of next school year.
Autumn follows the period when a lot of changes happen in couple relationships: many people start to date, others break up.
Consequently new couples are looking for the place where they can start their cohabitation by celebrating Christmas together, while the people who've just separated are searching for their own home adhering to a principle “New Year, new life”.
Options you have if you've failed to sell your property during favourable seasons
In this case the experts recommend to temporarily withdraw your advertisements and wait for a new season. However if you need to sell the property as soon as possible you have other alternatives to consider. For example you can close a deal during the summer.
Although time from middle of July till end of August is considered to be “dead season” and people save money for their vacations, there are several reasons which can make them reconsider their spending and purchase real estate: firstly their marital status can change, secondly the offer can seem so enticing that they will not be able to refrain from buying the respective real estate.
Much worse the situation is if your need to sell the property has coincided with the onset of winter. Not only Christmas, New Year and holidays contribute to sharp decrease in demand, the overall atmosphere – cold, bleakness and slush – puts people off buying new homes.
Nevertheless some individuals who can be divided into two groups: investors or people who have an urgent need to move to new place (freshly divorced or on the contrary newly formed couples; first-time buyers, etc.) are still interested in purchasing real estate in winter.
Despite the division the similarity in their behavior can be found: they know that winter season will not enable you to show your property in the best possible light, therefore they are ready to “fight” for discounts.
Investors will offer you to pay in cash till tomorrow if you agree on a price 20-30% off. People with urgent need for dwelling are usually satisfied with 5 % price decrease.