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It’s Hotter Than You Think!

Jun 09, 2023

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One of the biggest myths in real estate is that Winter is a bad time to sell. Actually, the opposite is usually true, and that’s especially the case this year. Let me explain.

Selling in Winter is actually advantageous for vendors in two ways.

Firstly, there is typically a lower number of homes for sale in Winter (because of the myth!). What that does is tighten up supply, and that strengthens buyer competition for the homes on the market. Buyers who want or especially need a new home do not stop looking because the weather gets cold!

Secondly, if your strategy is to buy your next home after you’ve sold your existing one, then selling in Winter means you’ll be ready to buy in Spring – when there are usually a lot more homes for sale.

These two advantages are present every year, but in 2023, the supply/demand advantage is magnified. This is because we’re at a point in the market cycle when stock is already very low, data from Domain and realestate.com show total listings are down 30% on historical averages, which means buyer competition will be even stronger for the homes available for sale during Winter this year.

The market is now absolutely on its way back after a correction with buyer demand clearly increasing, stock levels are not yet improving. This creates great selling conditions, with auction clearance rates in Melbourne up to well beyond the 70% mark and climbing!

So, we see a great opportunity for sellers to do very well this Winter in the suburbs with particularly tight supply, so if you’re thinking of selling this Winter, get in touch today!

 

Written by Toby Campbell