When winter weather hits like it has this week, it seems sellers go into hibernation. They batten down the hatches as they wait for spring to arrive before they even think of selling their property, believing the common misconception that spring is the peak period for real estate.
The lure for sellers making their move in spring is that their gardens will be blooming and looking their best, the days warm up and people are out and about more often. This all adds to the perception of spring being the prime time to sell a home. The other spring phenomena is that the ‘lookers’ are out enjoying some free weekend entertainment by going to opens and boosting the feeling that spring is the best time to put a property on the market.
The reality: winter sale results are exceptional and every year we continue to find winter sale prices are strong. This can actually be explained mathematically. Adelaide listings are 19.7 per cent lower than they were at their peak last spring, and with buyer numbers remaining statistically unchanged (notwithstanding the fact activity levels drop due to less properties being available to view). Right now, conditions are very favourable. The number of genuine buyers in the market is consistent regardless of the season, while stock levels plummet and demand drives prices. It’s that simple. Exactly the opposite is true in late spring when the market floods with stock.
Right now at Toop&Toop we are witnessing the reality of winter selling with incredible sales continuing. Current stock levels across Adelaide and the entire State are critically low; buyers are flocking to new listings as they hit the market. Our team are finding record numbers through their new release properties, with up to 80 through just one open last weekend. New releases are hotly pursued at the moment and sales before or at the first open are becoming a regular event. The sales are exciting; the lack of property is frustrating.
As most buyers would know, Toop&Toop assists buyers across the SA market as all of our team are recording needs and requirements constantly. We have built the number of registered buyers to over 10,000 qualified and active house hunters. We can help them to tap into our client’s sale at any time. With our ability to keep these buyers informed, and monitor activity levels all year round, we know how the buyers are acting. Buyers are so eager to hear from us, especially at the moment. So the message is, let’s go now, let’s sell before that spring madness.
Buyers never seem to stop searching for property until after they have bought, and like us, they are addicted to seeing what’s new. Contrary to popular belief, they may not necessarily just go online to search in winter and they seem to get frustrated with the lack of properties available during this time. So, with the limited new stock available, we put some of our winter success to this unique VirtualAgent “matching capability”. It is working a treat.
Supply and demand is the cornerstone of any market. Toop&Toop has the demand at our fingertips, and you have the stock we need to supply the market! Winter can be a serious time to sell.
ABOUT THE AUTHOR
After attending Geelong Grammar in Victoria, Genevieve went on to attain a Bachelor of Business, specialising in marketing at Monash University in Melbourne. Graduating in 2007, Genevieve came back to Adelaide and worked for the family business for two years. Beginning on reception, she worked her way through all facets of the business. In 2010, Genevieve made the decision to gain international market experience and moved to the UK, where she worked as a buyer's agent in London and then in sponsorship and advertising at the Institute of Chartered Accountants England and Wales. Genevieve returned to Toop&Toop in 2012 and is now general manager of sales and marketing. Toop&Toop Real Estate is South Australia’s largest family-owned residential agency, specialising in the premium market.