Winter should not be dismissed as a poor season to sell by default. Winter is here. As the cold sets in, many home owners will be faced with a difficult decision – sell now or wait until spring.
But here is another truth, a large portion of new listings that hit the market in spring were held back over winter.
What does this mean? A shortage in stock in winter and an oversupply in spring. There might be more buyers shopping around but the competition among the sellers might also drive the selling price down. On the flip side, there might be slightly fewer buyers in winter but those buyers are serious and may be desperate buyers. Shortage of stock may cause fear among them which will help sellers in negotiating a higher price.
According to PropertyAnalytics research in 2017, buyer demand is roughly the same in winter as it is in Spring, but stock supply is dramatically reduced in winter. As a result, the winter property market often out performed spring during the boom years 2014-2016.
Presentation is obviously an important factor but what ultimately determines price, is supply & demand.
If you have been thinking of selling your home this winter or would like a free market update appraisal, please contact our office at First National Real Estate Goulburn on 02 4822 8711.