Should I stay or should I go now?

From the number of times I have been asked this question, one of the biggest mysteries in real estate is:

“When is the best time to sell?”.

It’s unfortunate we don’t have a crystal ball to predict what will happen with the Sydney housing market. The past few years have shown us that it is almost like rolling a dice and a very brave person who speaks out about where the market is headed.

What we do know however, is that over a period of time we experience cycles of heated and cooler markets.

Most people think that spring is the best time to sell a home. Flowers are starting to bloom; we are feeling re-energised coming out of winter ‘hibernation’; we can be in our new home by the time Christmas comes around. But the reality comes down to that old favourite economic principle – supply v’s demand.

Demand and appeal for a particular style of home can vary across the seasons. A house with a pool will tug on the heartstrings a little more during warmer months as buyers can see themselves enjoying a dip as soon as they take possession of the home. Conversely, the warmth of an open fire may be just what gets the home over the line on a chilly winter’s day. In other words, SELL THE LIFESTYLE.

The reason most people consider selling is due to lifestyle changes. They may have a growing family, be empty-nesters needing to downsize, divorcing, relocating for work etc. It may be important to have the children start school at the beginning of the school year or your new job dictates when you move; it may just be time to let go of that old relationship.

Sellers traditionally hold off going to market during the colder months, waiting for the feted spring selling season. The reality is, however, that people are looking to buy homes throughout the year and when supply is low, guess what? Competition for those increases, dragging the price up with it.