SELLING THE FAMILY HOME IN AUGUST
Putting your house on the market at the wrong time could see you struggle to secure a buyer and get tens of thousands — perhaps hundreds of thousands — less for your house.
Estate agents typically advise against putting a house on the market in August. “August is not a great month to sell a family home because people are away and families are focused on getting their children back to school,” said Barry Connolly, associate director with Savills Residential.
Early May can be a good time to put a family home on the market — as there is still a couple of months to go until the school holidays kick in. Selling at this time also usually gives you the advantage of showing a property in better weather. “Any family home with a decent garden is always going to look better in the summer,” said Connolly.
The property market can become sluggish in late June and July as schools close and families head away for the holidays. However, the shortage of properties on the market could still see you get a good price for your property this June or July.
“Traditionally the market has been very seasonal: April, May and September is when we list most of our properties,” said Connolly. “The seasonal factor is still relevant this year — but it’s not as relevant as previous years. There’s a demand for properties which way outstrips supply — and sellers are more likely to outperform the market when it’s like that.”
If you plan to sell your property in September, consider putting it on the market in the last week of August. “September is a great month to sell — but the issue with September is that it’s a short selling window,” said Connolly. “So be ready to be on the market in the last week of August.”
Owners of properties in popular Irish holiday spots need to approach their timing differently to those selling family homes in Dublin and major urban areas, according to Robert Ganly, managing director of the estate agents Ganly Walters.
“You’d make sure you were on the market by early August if you were selling in the likes of Connemara, Roundstone or West Cork,” said Ganly. “You have the holiday home market there. Also a lot of people come back to Ireland at holiday time — and they can use that time to look for properties. There’s a big demand for country homes in the middle- to upper-end of the market that are within an hour’s drive of an international airport.”