The Real Story: The benefits of selling your home before Christmas
Should you sell now or wait?
Benefits of selling before Christmas
Sydney, summer holidays, selling property
Christmas will be here before we know it, so we take a look at the benefits of selling your home before the summer break.
The summer holidays will be here before we know it, so if you’ve been thinking of selling your home, now’s the perfect time to make your move. Let’s take a look at some of the great benefits of selling your property before Christmas.
Selling during the market’s peak
CoreLogic data shows that the number of property sales peaks around November each year, then drops off dramatically towards the end of December, when we consistently see each year’s lowest figures. But for most of us, this shouldn’t come as a surprise – the holiday break is when we’re focussed on preparing Christmas or other festivities, relaxing and spending time with loved ones, so buying and selling property just isn’t at the top of most people’s priorities.
The CoreLogic data shows monthly property sales peaks at around 45,000–50,000 nationally in October/November, before the figure plummets to around 30,000–35,000 at the end of the year. In 2018 when the market fell, this dropped even further to around 27,000 nationally. On the ground, as agents we see this trend reflected in fewer properties listed and less interest from buyers.
We also find that it’s not just restricted to a couple of weeks over the Christmas break. The market often softens from a week before Christmas until the second week in January, so hopeful vendors often find themselves waiting until the end of January or early February to find interested buyers. In fact, it’s fairly rare to see property auctions scheduled in late December or early January. So by wrapping up your home’s sale before Christmas, you can have peace of mind leading into the holidays and truly enjoy your end-of-year break.
Benefitting from current market conditions
The market often changes between years, so putting off selling your home or being forced to wait due to a lack of buyers can mean that you’ll be selling into different conditions once the calendar turns over to January – it could be better, or worse. The future state of the market can be hard to predict, so it adds an extra element of the unknown to the sale of one of your most important assets.
If you choose to sell your home now, before the holiday lows, you know exactly the type of market you’re selling into. And there are a lot of positives right now – improved auction clearance rates show that buyer appetite is increasing, with CoreLogic’s data for the first week of September showing a rate of 88% for the North Sydney and Hornsby region and 73.5% for the Northern Beaches. Across the DiJones network we have seen auction clearance rates of 81.8% as of the 23 September 2019.
The exceptions to the rule
Sales decline around Christmas, but that’s not to say they disappear completely – after all, there are still those 27,000 sales taking place nationally and over this December / January period last year DiJones helped move over 600 families on their property journey. So when should you buck the trend and sell up over the holidays?
If your property is in a prime locale with stunning water views, holiday appeal or easy access to the beach, summer might be the perfect time to get in front of prospective buyers thinking about how to live that holiday lifestyle all year round. Depending on your property, it could also be the right fit for buyers looking to snap up a beachside holiday house in striking distance of the city. Or properties in Sydney, on the beach.
Selling homes like this in summer can mean presenting them in their very best light when the sun is streaming through the windows, the water is sparkling and the atmosphere is buzzing with all of the positives that come with a beachside – or even harbourside lifestyle. And while the pool of buyers may be reduced at this time, DiJones has a database of 221,000 interested buyers ready to perform.
Whether or not this is the best time to sell your home, in particular, will depend on a variety of factors, so an expert opinion is invaluable. Get in touch with our team today to arrange your free property appraisal.
How to sell your home before Christmas
If you’re planning on selling your property before Christmas, you should ideally start your campaign in October/November to allow enough time to run effective advertising, hold inspections and complete the sales process for optimum results. It will also give you just enough time to buy another property before the new year and to settle your family into a new home before school starts back again.
The first step in selling is to get in touch with one of our experienced local agent for an obligation free market estimate. Not only will this give you a realistic and up-to-date view of the value of your home, but it’s also an opportunity to find out more about the current market, learn about changes happening in your area and get personalised advice on when and how to sell your home.
January is a time many people make new year’s resolutions and buyers often come out in force once school returns.
Even if you plan to sell in the new year now is still a great time to get prepared. A lot of properties transact off-market over the December and January holiday period or sell in advance of a public on-market campaign if they’re all ready to go.
Thinking of selling before Christmas? Get in touch with one of our local experts today to discuss your options.