Every day we as real estate agents get asked the million dollar question, "When is the best time of year to sell your home in Townsville?"
There are two important factors to take into account when considering this as a seller.
1. Is this the right time for you to sell, for the reasons you have decided to sell?
2. Are there busy selling periods of the year and does this help achieve a greater sale price?
Firstly, the best time of year to sell your home is when its right for you. Your motivation to sell your home can be for any reason including; change in personal circumstances, financial hardship or a financial windfall, moving away for work, downsizing or upsizing, or simply you feel it is a good time in your life to move on from your existing home into something else.
Whatever the reason the first answer to the question "when is the best time of year to sell your home" starts with YOU!
The second answer to the question is a little more complicated. During the 12-month calendar cycle, there are distinctive periods in the year that show more buyer & seller activity. This is generally based around mid and end of year periods, or leading into these times of the year. And this is most commonly based on the large transient population of our beautiful Townsville region. This is hugely driven by a combination of a large military presence in Townsville, contractual changes at the Townsville General Hospital every 12 - 24 months, James Cook University contractual changes, changes in mining employment and employers utilising Townsville as a drive in drive out or fly in fly out hub, and the ever-changing infrastructure expenditure occurring in the Townsville Region with some additional long term projects set to kick off in the near future to bolster this.
I know what are you thinking though, the best time to sell is when there is the most activity in the market place, right?
History tells this is rarely the case though and some simple numbers will help explain this a little more. So let's say there are 1500 homes for sale in the peak selling period of the year, in comparison to 500 homes in the off-peak periods. This equates to 3 times the amount of competition in terms of other homes like yours that are also for sale. This ultimately leads to a Buyers market with greater choice and more ability for negotiation due to high volumes of properties to choose from.
In comparison, if you are a seller listing in the off-peak periods, you have less competition in the market place, fewer options for buyers to choose from, and a greater chance you can achieve a sale price much closer to or at or above your list price. If you have the only 4 Bedroom home with a pool in Kirwan for sale, then you have just generated buyer competition and when buyers compete for a property this leads to better opening offers or multiple offer situations and the buyers can be willing to pay extra to secure the high in demand home they are looking for.
With these two important pieces of information, you can navigate when you believe is the right time to sell your home, and if you would like more information on this and how to achieve the best results for your home our friendly sales team are on standby to answers your questions.