November is statistically the best month to sell a home, with sale prices averaging 0.78% above the national annual average, according to a recent PropTrack analysis.
For a property valued at $880,000, this increase equates to nearly $7,000 in extra profit.
“Analysis of selling prices from 2014 to 2023 show November is the prime time to sell a home, with prices 0.78% above average, aligning with the spring selling season,” said Paul Ryan (pictured above), senior economist at REA Group.
While November is the peak, spring in general remains a highly active period, with October also offering strong returns. Homeowners selling during this time take advantage of increased buyer interest and competitive pricing.
Spring isn’t the only profitable selling period. February and March, which fall in the autumn season, also deliver above-average prices, driven by buyer demand after the holiday lull.
Sellers who list their properties during these months benefit from heightened market activity.
“The autumn selling season – particularly February and March – also sees seasonally higher prices, with buyers accumulating over the slower holiday period,” Ryan said.
In contrast, June and July are the least favourable months to sell, with fewer buyers and reduced market activity leading to lower prices.
However, homeowners in Melbourne, Adelaide, and Perth can see significant returns if they sell during their peak months.
Seasonal variations in these cities can result in prices rising more than 1% above average, meaning sellers could gain between $9,400 and $11,000 in additional profits, PropTrack reported.
While most markets perform best during spring, Sydney’s peak selling period is March, with prices remaining strong in October and November. Sellers in Sydney may want to time their listings carefully to maximise their returns during these key months.
“Home price growth is persisting at above-average rates nationally,” Ryan said.
Ryan predicts that with the spring selling season already progressing strongly, sellers can expect further price gains throughout 2024, especially with November just around the corner.
Whether selling in spring or autumn, timing the sale remains key to getting the best price.
With buyer interest at its highest in November and autumn offering a second chance for strong sales, homeowners have multiple opportunities to capitalise on the market, PropTrack reported.
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