What is the property market doing and is now a good time to sell?? These are hot questions right now, so let’s simplify and acknowledge the basics to ease your decision-making.
There are certainly adjustments taking place throughout the property market: inflation rates and mortgage costs will inevitably affect house prices moving forward. However, buyer demand is sustaining, lenders are still lending, and houses are still selling. It’s fair to say that the peak in sales and sale prices has been and gone, with the market now mirroring many of the statistics of 2019. So, if you have a need or wish to sell, you can. The questions are when and how?
For those of you with a need and tight timescale to sell by, you may be thinking of launching your property to market as soon as possible. It’s important to recognise that December is the least active month for property sales, therefore pricing and marketing strategy is crucial. Now is not the time to test the market.
Sellers who do not have an immediate need or restricted time frame should hold back, prepare, enjoy the festivities, and launch from Boxing Day into January. Planning this effectively will not only remove excess anxiety caused by the thought of selling, but also introduce your property to a more motivated audience of serious buyers when the times of turning over a new leaf are in play.
Regardless of your decision, it is essential to get the pricing right and to have a plan in place.
Recent months have seen a rise in quick reductions within our local market, many of which remain on the market today. It’s important to know your audience and to strategize your course. Last month I highlighted the importance of knowing your figures. This exercise will bring structure to your journey and may well prompt subtle changes that could make a big difference in the long run.
For further guidance on how to strategize and a free non-obligation property valuation, give me a call or visit my website 24/7. Regardless of your position, on or off the market, I am here to help.
