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

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%.

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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