Busting Myths: The Advantages of Selling Your Home in Winter
Posted in Insights May 30th 2023
There’s really nothing like that first cold snap to make everyone want to rug up and hibernate for the coming winter. And when it comes to selling your home, there’s this idea that winter is a quieter time in the real estate market until everyone emerges at the other end for spring. But is there any truth to it?
Are you better off waiting until later in the year to sell? Anthony McCormack, Partner and Sales Consultant at Hayman Partners, says that this is actually just a misperception.
While the temperatures may be low, Canberra winters are, in fact, known for the beautiful bright blue skies and fine days. And when you crunch the numbers, prospective buyers aren’t actually put off by the cold. “We know that the idea that winter is a quieter time for real estate is actually a bit of a myth,” says Anthony.
Anthony says that, if anything, winter can be an even more beneficial time to sell. The cooler months do seem to make some vendors delay listing their property, which means lower housing stock and higher competition for buyer attention.
“It can be quite a reasonable time to sell because there are usually less properties on the market, but the buyer pool doesn’t change too much. And buyers know pricing very well from the statistics that they have at their fingertips. So, we don’t really see a reduction in pricing. If anything, sometimes through winter, we can see a little bit more strength in pricing because there aren’t as many homes on the market,” says Anthony.
“And what we’re seeing this year is that the buyer pool has settled right down in terms of interest rates and consumer sentiment around housing. Where we saw turbulence last year from July to December, that seems to have dissipated quite a bit, and buyers now know what they can borrow. They’re just pretty much getting on with it.”
So if you are listing during the cooler months, what are some ways to help your home sell? You can start by playing up the wintery appeal of your home.
“One of our agents Shane Killalea, sold a house in May which had a beautiful slow combustion fire. In terms of the ambience that it created with the heat, it was just magic. Shane said the people that came in kept saying, ‘wow, this has got a great feel, and it’s got a lovely heat’. They came and stood by the fire, and that created an emotional shift in a lot of buyers’ minds,” says Anthony.
And speaking of those beautiful clear, sunny winter days, Anthony says you can also use them to your advantage. “We get a lot of beautiful sunny days in Canberra from autumn and right through winter. If you’ve got a well-aspected home, pick your timing for both photos and open homes, and that aspect can become a huge advantage for selling in winter,” he says.
If you were considering selling but were thinking about waiting until later in the year, Anthony says there are plenty of reasons to get things happening now.
“If you’ve got a house that’s well-aspected, has good heating, and feels like a nice, home through winter, chances are it’s going to go well on the market.”
Looking to sell your home in Canberra during the winter season? Our dedicated agents at Hayman Partners are here to guide you.
