The best time to sell a property in South Africa

Seeff Property Group recommends selling properties during the warmer summer months, noting that sales activity tends to increase as the weather improves. In South Africa, the cold and wet winter months have kept many buyers away from show houses, leading to fewer transactions. Summer typically brings better moods, more outdoor activity, and visually appealing gardens and neighbourhoods, all of which contribute to heightened buyer interest. Additionally, the lead-up to the festive season and the new school year often motivates families to seek new homes.

Sales data supports this trend, showing that property transactions generally rise during the warmer months. Many buyers, including those looking to upgrade or retire, start their property searches in spring or early summer, aiming to secure a new home before the holidays or the new year. The holiday home market also sees a boost during this period, with people preferring to invest in vacation properties over resort stays.

However, the summer market also brings increased competition among sellers, with more listings and longer market times—averaging 12 weeks, up from 10 weeks earlier in the year. To ensure a faster sale, Seeff advises sellers to price their properties competitively and ensure that homes are in excellent condition. In a buyer’s market, where there are more properties for sale than buyers, overpricing can deter potential buyers and lead to extended time on the market. Proper pricing and timing are key to achieving a quicker and more profitable sale.

Source:  Businesstech

Date:  10 August 2024