Insight

15.11.17  Selling Advice

 

Is Selling Property Over Christmas a Good Idea?

The traditional real estate market pause from early December to late January doesn’t mean you have to put your property sale on hold.

Our team still spends time working with sellers over this period to prepare for strong February sales and to take advantage of any active buyers.

Here’s our advice for sellers going into the Christmas season.

Prepare, style or show

If you’re thinking of selling, December and January are a good time to call on expert agents who can provide advice about the local market. This is also a great opportunity to prepare your home for sale, or meet with stylists who can suggest effective ways to present your home to prospective buyers.

It’s also worth remembering that not all buyers have the same routine. While some will be out of town over the Christmas/New Year period, many expat buyers return to Sydney and take the opportunity to inspect properties first hand. Make sure your agent is available to these buyers when they’re ready to inspect.

Stay ready for a pre-market sale

We don’t recommend starting a public sale campaign until later in January. But if you’re all prepped and ready, your agent should continue to show your property to potential buyers 'by request' over the Christmas period. In some cases, this results in a quiet, pre-market sale, as it’s usually only serious buyers who will make special requests to see property during this period.

If your property doesn’t sell before the end of January, you’re still in a strong position. As February begins, refreshed buyers will be ready to see new properties and yours will be one of the first on their list.

What the data says about pre-Christmas sales

CoreLogic data from the final week of sales in December 2016 tells us two things about Sydney real estate sales: we’re not immune from the typical Christmas slowdown, but auction clearance rates remain higher than those in most other capital cities.

Across Sydney as a whole, the auction clearance rate for the week ending December 18, 2016 was 74.1%, which was actually an increase over the previous week’s 73.7%.

To put these figures in perspective, during this same week, Perth saw a clearance rate of just 30% across the city as a whole, while Adelaide auctioneers cleared 61.4% of properties on the market. The only city with a higher clearance rate than Sydney’s was Melbourne, with 75.7% for the week.

In recent years we’ve started to see a trend towards sales ending later and starting earlier in the year. Across the city as a whole, it’s no longer uncommon for inspections and auctions to start well before Australia Day and the return to school. But you won’t find us recommending a public campaign before Australia Day, as not all buyers are out in force.

Trends for eastern suburbs sellers

Sellers in Sydney’s eastern suburbs have the advantage of being consistently popular with buyers throughout the year, so while there is a Christmas/New Year slowdown, it’s far less pronounced than in other areas. The period also tends to have minimal impact on eastern suburbs prices, which means it’s always the right time to get advice on timing your sale, and making the most of your sale.

Get in touch with our team today for more advice about when to put your property on the market.

Download our 2018/2019
Eastern Suburbs Market Report

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