When is the best time to sell

Everything has a season – including selling your home. Listing at the right moment could mean more money in your pocket.

Traditionally, spring/summer are the hottest seasons for real estate, with sellers energised by the warmer weather and gardens are looking fabulous with new growth making it a great time to show your home. At this time we see a larger number of properties coming to the market which is great,but prospective purchasers do have a greater selection to choose from.

If you decide to sell in the winter months there is a lot less competition and may get a better price. Another plus is buyers in winter are less likely to waste your time or draw out the settlement.

Of course, there is no perfect date or time of the year to sell as there are always purchasers - people transferring,marriage, separations, immigration etc.

The best advice is you should pay attention to your local housing market and try to list during a seller’s market, when there will be more competition among buyers for your home – which can mean a premium price, a quicker settlement and fewer conditions on the offer.

This is the window of opportunity we are in at present - A SELLERS MARKET

With Banks starting to how signs of increasing their interest rates this week, I am sure will also start to influence the urgency of buyers.

However with spring just around the corner things may change to a more balanced market rather quickly.

Barry McKean
Bayleys Residential Specialist

Good times for home sellers

The local Residential property market in Palmerston North is humming along at an unprecedented rate. The number of home sales at present are really only being hampered by the lack of available new properties to sell.

Our current market conditions are definitely somewhat different to that of just 12months ago where the supply of properties for sale outstripped the number of buyers however today demand for properties by purchasers now exceed the number of properties available.

My take on the market as it stands and to get some real fizz going, is we now need to see more properties in the price band from 250k - 650k. The reason is simple at present potential purchases have little or no motivation to move as they have nowhere to move to.

The residential property market is like a big Ferris wheel we all need to get back on and have a good time.

The more homes that come available in the mid range the better for all concerned - those with lower priced home have something move on too which in turn installs confidence in the upper price ranges and developers of new home packages.

Whilst the current conditions remain sellers are having a field day with many property sales exceeding vendors expectations through multiple offer situations.

My advice is if anybody was considering selling the time is now and make the most of the large number of buyers available.

Barry McKean
Bayleys Residential Specialist