When is the best time to sell a house? A new report has the answer

Home buying and selling

To sell or not to sell… that is the question. Generally, when it comes to investing in anything, time in the market is advised over timing the market. However, due to the seasonality of the property market, knowing the best time to sell could mean a significant difference in total returns. So have we passed that date, or is it still on the horizon? 

Proptrack finds November as best selling month

PropTrack’s latest Market Insight Report looked at the selling prices of property from 2013 to 2022. It found that November is the best month to sell property on a national basis, with sellers achieving prices 0.8% higher than the yearly average. For an average property value of $800,000, this 0.8% increase represents more than $6,000 in additional returns for sellers. 

The spring season, which usually sees the highest level of market activity, coincided with the seasonally highest prices with November's peak pricing also aligning with the height of the spring selling season. However, November wasn’t the only good selling time, with March prices 0.72% above the yearly average. This is partly due to March and November's higher levels of buyer activity.

On the other hand, the lowest seasonal prices were recorded in June and July at 0.9% and 0.94% respectively. Unsurprisingly, this is also noted as a quieter period in the property market. January, May, August, and September are also recognised for below-average selling prices. April and December were only slightly higher than the average price at 0.07% and 0.24%.

“Home prices nationally are already back at their peak after nine months of consecutive growth.” Paul Ryan, senior economist at PropTrack said. “With the spring selling season underway and November—the best time to sell—approaching, it’s likely ongoing price growth combined with a seasonal boost is set to benefit many sellers over the next few months.”

Best time to sell varies by city

While November stood as the highest national average, it wasn’t necessarily the highest on a city-by-city basis. For instance, Sydney’s best time to sell was in March at a price difference of 0.85%. Meanwhile, Melbourne’s best month is October with a price difference of 1.14%.

best month to sell a home property by city

Overall, while the national average is November, taking a more local view can help you decide if now is the right time to sell. 

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Home loan comparisons on Mozo - last updated 8 December 2023

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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