Throughout the year, real estate experts evaluate the intensity of sales in the market, along with the economic and political situation of the country. This comes to the conclusion that seasonality is an important factor.
According to experts, selling apartments in spring and autumn is profitable. Of course, we should not forget that a good apartment at a competitive price will always be in demand, regardless of the time of year or month. First, let's find out the reasons why the owner might decide to sell the apartment.
Reasons for selling real estate
There are various reasons for selling property. Let’s list some of them:
1. Family changes, such as marriage, childbirth, divorce, division of property, or the loss of a family member, often lead to the need to increase or decrease the living area.
2. Change of place of residence, like moving to another city or country for permanent residence.
3. Challenges with mortgages (e.g. rising interest rates).
4. Income changes: When the financial situation improves, people often sell smaller apartments to upgrade to larger, more comfortable homes. On the other hand, during financial difficulties, they may sell their apartment to manage and stabilize expenses.
5. Inherited properties: Inherited apartments frequently require significant financial input, such as major renovations. As a result, heirs usually sell them at auction or lease them out.
6. Troublesome neighbors or unsuitable communities can compel homeowners to relocate.7.
7. Investment purposes: People buy new real estate, whether a secondary market apartment or a newly constructed building, with the intention of reselling it at a higher price.
8. Starting a business requires startup capital, which could come from selling an apartment. Before proceeding, consider: Do you value urgency or profitability more? According to this, you can decide whether or not you should wait for seasonal offers.
Which months see the highest sales?
As we have already mentioned, spring and autumn are the prime seasons for apartment sales. More specifically, the period from late February to the May holidays and September to December, right before the New Year celebrations, is most active.
Why is this period ideal?
Apartment sales peak during spring and autumn in both the primary and secondary markets due to high demand and elevated prices. If we need to mention a specific month, then November through late December.
It has been scientifically proven that many people wish to start the New Year in a new apartment, treating themselves and their families to a holiday gift.
When are apartment prices at their lowest?
This is not an easy question to answer definitively. For some, summer may be the least active period, as most people are focused on vacations and relaxing away from daily routines. Others may point to January, as the post-New Year period often feels slow and unproductive. Overall, the start of the year is considered a "dead" season for both buyers and sellers.
Conclusion
Realtors recommend not to rely only on seasonality, because it is just one of many factors. Real estate prices often increase monthly and are not tied to specific seasons. Working with a real estate agency will allow you to benefit from skilled professionals who continuously analyze market trends and opportunities. Experienced agents and lawyers will not only assist you in selling your apartment profitably but also ensure all legal matters are handled smoothly, both before and after the transaction.
