Is selling in January a good idea?

So it's no wonder that most estate agents encourage sellers to wait until the Spring. This is the time when buyers are plentiful and homeowners can expect to gain a higher price, so the argument goes.

But is January a bad time to sell? While some of the above is true, there are some advantages to listing at this time of year. So in this blog, we are going to explore why a January listing might make sense and what you can do to increase the chances of your home selling.

What are the benefits of selling in January?

Less competition

January is usually a quiet month for listings, most people are on holiday at this time of year while others are taking a well-earned break at home. But this can play to your advantage. Fewer listings mean less competition, so your home stands more chance of being viewed by potential buyers.

And those potential buyers are another reason to list in January. Because buyers searching for a home at the start of the year are likely to be very serious about it. These are not people kicking tyres, they are actively looking for a home, usually because of a new job or relocation. So they are motivated to act quickly.

Your home will look more inviting

The long summer days of January are perfect for showing your home off to its full potential. Your garden will be at its best, with flowers in full bloom and birds singing. The sunny weather is also much more likely to encourage viewers to come out and visit. And homes just look better in the sunshine.

Another advantage to listing in summer is that you get the chance to show off your outdoor space. Australians love the great outdoors, so if you can dress your garden with patio furniture, planters and a barbecue you will go a long way to showing potential buyers how they can use the space to entertain.

Longer daylight hours means more viewings

Listing in summer also means longer days which are perfect for evening viewings. Most people are at work during the day so prefer to view in the evenings or at the weekend. However, most estate agents don’t recommend viewing properties in the dark, because it can hide some unpleasant surprises.

So listing in January can put you at a distinct advantage. Buyers will be more relaxed because the long sunny days put people in a better mood. While your home will look more appealing with sunshine flooding in through the windows. It also allows you to open windows to let fresh air in from outside.

How to get a quick sale at a great price

So now you know why listing in January could be a good idea. How do you go about making sure you get a quick sale at a great price?

Research the local market

Selling in January is not that much different from selling at any other time of year. So one of the first things you must do is research the local market. Talk to your local estate agent to get an idea of how homes in your area have been performing over the past 12 months. Pay particular attention to the time on the market and the prices achieved.

Homes which are selling quickly at prices close to or even above the asking price are in high demand. Any good estate agent with experience of the local market will be able to supply you with this information. They should also be able to supply you with other useful information such as demographics which you can use to market your home effectively.

Make sure there is a demand for your type of property?

Supply and demand is also a key factor to consider when achieving a quick sale. You need to know if you are in a buyer’s or seller’s market. How can you tell? In a buyer's market, there are more sellers than there are buyers. This is a bad thing for sellers because it means they will have to reduce their asking price to achieve a sale.

In a seller's market, the opposite is true. There are more buyers than there are suitable homes available. So sellers are more likely to achieve a higher price and sell quickly during these periods. The question is how do you know how the market is performing in your particular area?

Supply and demand can change quickly with issues such as new housing developments, improved transport links and fresh job opportunities all affecting demand. The good news for people selling in January is that, while overall buyers are down compared to the spring, there are almost always more buyers than there are sellers at this time of year.

So, should you list your home in January?

January may not be the most popular time to sell your home, but if you do your homework it is possible to sell quickly and achieve a good price. While it is true that there are fewer buyers around, what buyers there are tend to be very motivated. And because there are even fewer properties for them to look at you are more likely to make a sale.

Another advantage to selling in January, which some sellers overlook, is that estate agents are typically less busy during this period. This allows them to spend more time marketing your property to potential buyers. In some cases, it has been known for properties to sell the same week they are listed.

So if you are looking to sell your home, January could be a good time to get ahead of the pack. Just make sure you do your homework. Talking to your estate agent is a good place to start. Any good estate agent will be able to advise you about current market conditions and whether you can be expected to achieve a good price.