Christmas and the new year is usually a period when the real estate market slows down, there are fewer listings for sale and real estate agents take a well-deserved break. Selling a house in January is often discouraged due to the fact that people may still be away for the holidays. Many sellers put their properties on the market in spring because of the common belief that spring achieves the best sales. Of course, properties may indeed present better in spring. But what are the benefits of selling in other months like January?
Selling a house in January: what are the benefits?
In January, there is generally not a lot of new listings hitting the market meaning you will face less competition from other sellers. People who are looking at listings around this time will probably be serious buyers. This could indicate a higher chance for your house to be seen by potential buyers in an undersupplied market. Unlike other peak times of the year, it should be easier to make your property stand out in January.
More inviting outdoor areas
January is the middle of the Australian summer. With Summer, there come longer sunny days. If you have a deck or patio, selling your house in January is something you should consider to make the most out of your outdoor space and draw the attention of your potential buyers. Make your outdoor look more inviting and relaxing by adding some potted plants and comfortable outdoor chairs. Setting up a cozy outdoor space will let the buyers picture themselves sitting back and enjoying the fresh air.
If your house tends to look more dull and dark in winter, selling your house in January may be a good idea. In January, the days are sunnier and the house will look more appealing to the buyers. There is so much natural light entering your house which will make your rooms look brighter.
Things to consider while selling a house in January
Before selling a house in January or any other month, one of the most important factors to consider is the location of your property and how the area is performing. Try to understand the market and keep researching to see how the area has been performing over the past years. Talk to an experienced real estate agent who can help you get an idea of how much you may get from your property at a certain time. A good real estate agent will know the number of recently listed and sold properties, demographics, any other economic, social, political, and environmental data which may impact your local area.
Supply and demand
Understanding the supply and demand will help you know whether it is a buyer’s market or seller’s market. In a buyer’s market, the supply is more than the demand meaning, there are more properties listed than there are buyers. The sellers may have to sell their houses at a lower cost in a buyer’s market. In a seller’s market, it is the opposite which means demand exceeds supply and the sellers can sell the properties at a higher price.
Supply and demand can vary based on several factors such as new estate releases, new developments, etc. and can very much depend on the local area. It is a good idea to find an experienced real estate agent to know the level of demand for properties in your area in January. There are generally fewer listings in January and if the demand is high, listing your house in January could put you in a good position.
So, should you sell your house in January?
We think January is underestimated as a month to sell. Some will still be on holidays. But not all! Serious buyers are still out there house-hunting and it should be easier for you to stand out from the crowd with less competition. Eager buyers who possibly missed out before Christmas will still be keen to get in early in the new year. Also, the real estate agents are generally not so busy in January so they can put more effort into selling your property.
So, when determining if January is a good time to sell your house, you need to take all of the above factors into account, along with your own unique needs and circumstances. Be sure to discuss your concerns thoroughly with a qualified real estate agent to find the right time to fit your needs.
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