Most people work on the rule of thumb of buy low and sell high – but when is a good time to buy and when is a good time to put your property on the market?

The real estate market generally falls into three categories:

Buyer’s markets

Buyer’s markets are when the market favours the buyer and come about when there are more houses for sale than buyers. Because buyers have more of a choice of properties to choose from, it may take houses longer to sell and buyers often negotiate hard to bring the property owner down on the price.

Seller’s markets

At the other end of the scale, when it is a seller’s market, there are more buyers than available than properties. Properties generally sell very quickly, and in this case, the seller has the upper hand when it comes to negotiating on the price. A seller’s market often sees an increase in property prices too.

When the economy is doing well and interest rates are low, it sometimes results in a seller’s market as more people are in a position to get on the property ladder and/or start moving up it.

Neutral markets

Neutral markets are in the middle! The number of buyers and sellers are roughly the same, so there is no massive price swing either way.

The market can also often be referred to as ‘sluggish’. This is exactly as it sounds ie a property is taking a little bit longer to sell than usual but still selling at a good price.

Best time to sell

Some argue the best time to sell is in a seller’s market, but it really depends on your circumstances and your reasons for selling. For instance, if you’re looking upgrade on the property ladder, while putting your home on the market in what appears to be a buyer’s market may mean you won’t get top dollar, it will mean you’ll get a bigger and better property at a reduced price, and therefore a smaller change over amount.

Ultimately, if the property is priced realistically, and has the right marketing with the right agent, it will sell. If you’re looking to sell, with its great marketing techniques and good honest communications, our team constantly achieves great results for our clients regardless of the market.

As one of Newcastle’s longest established real estate offices, we know property. Whether it is from an investment or homeowner’s point of view, we’re always looking at innovative ways to help you get the best from your asset.

Drop into the Cardiff office or give us a call on 02 4954 8833. Or send us an email to: mail@apnewcastle.com.au – we’d love to hear from you.

And don’t forget to check out our Facebook page for handy tips on selling your property or what to look for when buying a property.