When is the best time to sell? The short answer is: when there are the most buyers. Why? The stronger the buyer interest the stronger the offers they make. When buyers have to compete for your listing they make their best offers.
The last 6 months in business have been tough – let’s face it. Political games have resulted in a downgrade to junk status, a weakening Rand, increasing unemployment, and the country being plunged into an effective recession.
The first piece of good news was the interest rate drop a couple on months ago – and there is a strong possibility that, with inflation rates dropping, we can expect a further drop in interest rates at the next Monetary Policy Committee meeting. Add to that the fact that, despite that fact that the government keeps shooting the economy in the foot, most of us appreciate that life goes on.
Those who need a larger home will make the decision to buy one. Those that need to scale down will decide to sell. People move on. Life carries on. We get used to “the new normal” – whatever that is. In our business we’ve noticed that the market seems to be accepting the stabilized property prices, has come to terms with the economic factors, and is pressing ahead. August sales for Harcourts were very similar to those in August 2016.
That doesn’t mean there is a buying frenzy. But it does mean that, if you are correctly priced, then buyers will purchase your property for fair market value.
So why is September such a good time to list? For one, we have moved into spring. People feel more positive, the gardens start looking colorful, and there is a general positivity in the air. But in addition to this, buyers who need to relocate to the Helderberg by December / January are starting to shop for their ideal property now.
If you list in October you may well have missed this new batch of buyers. With school holidays just around the corner, you need to get the marketing underway. When you engage a company to execute a strong marketing plan there is usually a significant amount of preparation that is needed to ensure your home is suitably presented. There is no time to waste! Before you hit the market there may also be some small touches you can put on your property to make sure it hits all the right notes.
Despite the volatility experienced this year, there is every reason to believe that we will see some more positivity in the local market over the next few months. If you’re considering selling anytime in the next 6 months, then now is as good a time as any to sell. It’s anyone’s guess what will happen politically and economically in December – so take the risk out of the equation and list to sell now!
Principal, Harcourts Platinum