The best time to sell a property in South Africa

Seeff Property Group says that selling properties is best done in the summer months.

With South Africa seeing its coldest and wettest winters, many buyers are staying away from show houses and keeping their money in their pockets.

However, Seeff said that the expected interest rate cuts and the warmer months ahead single a good time to sell.

Although Seeff admitted that the best time to sell depends on the seller’s circumstances, certain times of the year attract more buyers.

Sales data shows that sales often dip during the colder months, with more transactions concluded in the warmer, sunnier months.

When the weather is warmer, people spend more time outdoors, and gardens and neighbourhoods tend to look better in summer.

There is also generally a better mood, and people want to start new things.

The summer months also coincide with the lead-up to the end of the year, which usually sees an uptick in buyer activity.

Families also tend to look to move close to schools or universities.

Buyers who want to upgrade will also start looking in spring if they want to purchase a property in the new year.

People looking to scale down or retire will also start looking at their options.

The summer months are also usually a good time for selling in the holiday markets as more people start thinking about investing in their holiday homes rather than paying for hotel or resort stays.

As the festive season approaches, many buyers also feel a sense of urgency to submit their offers to purchase as soon as possible so that they can settle into their new home before the holidays.

Sellers will also face increased competition with more property listings over the hotter months. Properties are also on the market for longer, spending 12 weeks on the market from around 10 weeks at the start of the year.

Sellers will also face increased competition with more property listings over the warmer months. Properties are now taking longer to sell, spending an average of 12 weeks on the market, up from around 10 weeks at the start of the year.

What sellers must do

Pricing is thus essential, as sellers would not want to put people off by overpricing it is simply not a good selling strategy.

Sellers must ensure that the property is in good, stable condition. Nothing should be left to chance

“Do not leave anything to chance, fix what needs fixing and clean what needs cleaning. Experience has shown that listing at the right time and correct price will lead to a faster sale, and achieve a higher price,” said Seeff.

“Broadly speaking, it is still a buyer’s market. Sellers need to consider the factors which affect the selling of a house. These include the pricing, location, property condition, and market conditions.”

“A buyer’s market typically features more properties for sale and fewer buyers. When there is an oversupply of available properties and lower buyer demand, it tends to result in extended market times, price reductions, and seller concessions.”

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