As a residential property developer or investor, selling your property can be a daunting task. However, research has shown that listing your property on a specific day can make a significant difference in the amount of time it takes to find a buyer. For instance, the traditional trend is to list your property during the spring months, with March being the most popular month for buyers and sellers.
Buyer demand is typically highest in March after the winter slowdown, and this is the best time to sell as the market sees a surge in new listings. However, factors such as the location of your property, its type, and the state of the housing market can also impact how quickly you sell your property.
On average, it can take anywhere from two to six months to sell your property, with personal and buyer circumstances also affecting the time it takes.
Did you know 💡 In 2023, the average time to sell a property is 50 days longer than in 2019? This is due to a number of factors, including the property boom caused by the pandemic which is affecting transactions and causing the average time to complete to increase by more than three weeks.
December and January are usually seen as off-seasons for sellers as people are more focused on the holiday season. However, buyers may begin their research around this time, meaning that interest in your property could still increase. August is also not an ideal month for sellers as buyers may be preoccupied with the summer holidays.
Make Informed Decisions
With the digital disruption in the property industry, the property selling process has been streamlined considerably. However, making decisions on when to buy or sell a property can still be challenging, which is where property data software like Nimbus comes in handy. Our software provides residential property investors with reliable, accurate data, including market analytics and exploring opportunity trends, which are essential for making informed decisions. By using Nimbus, developers and investors can avoid costly mistakes while making confident decisions on when to buy or sell properties.
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