Spring is traditionally the best time to sell your home, with blossoms breaking to bring in a new season, buoyant buyers and the possibility of higher sales prices.
What makes Spring season ideal for vendors?
As winter hibernation ceases and with the worst of the rain behind us, buyers are looking for an excuse to head outdoors and open homes are once again on the weekend’s agenda.
With pent-up demand, you will find open home visitors more serious to buy. And, with the competition of more buyers on the market, you can expect speedy selling times and, often, a higher price for your property.
Real Estate Institute figures show a median national price in August last year of $550,000. This rose to a median of $580,000 by November – meaning an additional $30,000 on average in the pocket of vendors.
EVES CEO, Simon Anderson confirms the same trend in the Bay of Plenty with August figures of $560,000 increasing to $590,000 and Waikato showing a smaller increase. In Northland, the median rose from $458,000 in August to $505,000 in November – a whopping $47,000 difference.
But get in early. Vendors respond to the increased demand by selling up, and listings spike each year from winter lows of around 9,000 homes a month nationally to an additional 4,000 homes or so by Christmas.
You hear about “location, location, location,” but “timing, timing, timing” is a close second. Spring buyers are eager to be settled into their new homes before Christmas and free to head to the beach over summer.
It’s also the best time for you - Springtime offers you the chance to sell your home quickly for a higher price, which can then help with the purchase of your next home.
First Home Buyers
Like last year, this Spring is likely to attract a significant portion of first home buyers. Interest rates are at historically low levels and are forecast to remain that way for some time. Also, house prices have eased in some suburbs or remained stable in others making ownership once again a possibility for young people who are not served by New Zealand’s current renting conditions.
First impressions count and Spring is a great time to make your property look enticing for both photos and for open homes. The light is bright, yet soft, and flowers and trees are in bloom. It is a fantastic opportunity to have your property viewed at its best.
You will also feel more inclined to spruce things up in preparation. Get outside and tidy up the yard, mow the lawns, plant fresh flowers, ensure entrances are pristine and that everything looks like it should to wow buyers.