While the best time to sell ultimately depends on the circumstances of the seller, statistics have indicated that certain times of the year prove more lucrative to sellers, Cape {town} Etc reports.
According to the Seeff Property Group, summer months guarantee the most success when it comes to selling property in South Africa.
Cold and wet winters urge buyers to hold onto their money and refrain from viewing houses on show.
Expected interest rate cuts and warmer temperatures indicate that the upcoming summer months will be a good time to sell.
According to BusinessTech, sales data indicates that sales decrease during the colder season while business flourishes during the warmer months.
Warmer weather results in people spending more time outdoors. Neighbourhoods and gardens tend to be more aesthetically pleasing during this period too.
People are also generally more excitable and in search of a fresh start.
The summer period also crosses paths with the lead-up to the end of the year, a time period which is usually known to see an increase in buyer activity.
Buyers looking to relocate, tend to begin the process in the spring, in preparation for the new year.
In the summer, affluent individuals also tend to focus more on investing in their holiday homes as opposed to paying for expensive hotel vacations.
Buyers also tend to buckle-down on offers so they may settle into their new homes before the holiday season.
The warmer seasons however also result in increased competition for sellers, as property listings increase in this time. This results in properties taking a longer time to sell, as they spend an average of 12 weeks on the market. This is 2 more weeks than at the beginning of the year.
Sellers are advised to leave nothing to chance and to ensure that the property is well-maintained without being overpriced.
Statistics indicate that listing at the right time for the right price leads to a speedier sale set at an increased price.
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Also see: Girlies with houses: Women lead the charge in SA property market
