As autumn turns to winter, many potential home sellers ask the question “Is it worth putting my home up for sale now or waiting until the new year?”
Homes may appear to sell faster in summer or spring, however recently most areas are no longer affected by seasonal demand. According to the latest data from the Land Registry office, sales documents filed in the first nine months of 2022 were up to 9610, up from 7003 last year, marking an increase of 37.2%. Additionally in the first 9 months of 2022, Paphos recorded the biggest increase in sales across Cyprus with a 69% increase going from 1200 up to 2028!
This year, Cyprus will also likely surpass its own expectations of hosting two million tourists in 2022, as reported by the Deputy Minister for Tourism, Savvas Perdios. Many of the holidaymakers that visit Cyprus, fall in love with the hospitality and weather and plan to come back to retire or purchase a holiday home. Increased tourism is expected to continue through the winter making it a great time to have your home ready for viewings.
Internet traffic also increases in the winter as people spend more time inside their homes due to shorter days and cold weather. With the majority of home buyers starting their search online, the internet makes searching for properties easy, and our website Cyprus101 makes it even easier.
Here are just a few more reasons why you should consider selling now:
Internet traffic hits its peak
The period between Boxing Day and the start of 2022 was the busiest on record for buyers, says Rightmove. Rightmove recorded a 23% increase in buyer demand during the 2021-2022 holiday season compared to the same period the previous year. The number of new sellers coming to market, was up by 21% on Boxing Day compared to Boxing Day in 2020. This was the highest number of new sellers on Boxing Day that Rightmove has ever recorded. The demand is still high though even with increased sellers. The market is extremely active in Paphos now and we don’t expect to see a slowdown.
Additionally, during the Christmas holidays, once gifts have been opened and the dinner consumed people seem to go searching for their dream home using their new Ipads, laptops, and mobile devices. Again, Rightmove had its busiest month ever in January 2021, up by 44% compared with January 2020. The busiest day for Rightmove users was Saturday, January 30th. House hunters spent over 60 million minutes searching for their next home!
During the winter months leading up to the Christmas period fewer properties generally come on the market, which means less competition. Take advantage of this and make the most of your home’s best features. Make your home cosy and appealing by lighting the fire, and softening the lighting – make your house feel like it could be home for potential buyers.
Be ready for the rush
By marketing your property before Christmas, you will be ready for the New Year buyers if your property doesn’t happen to sell before the holidays. Historically, the property market experiences a surge of new inquiries at the beginning of each year as mentioned above. By marketing your property before this time you will be ready to capitalise on it. There will be no waiting for valuations or good weather to take photos or waiting for signing details, all of which can delay listing your property causing you to miss out on valuable marketing time.
1000’s of People are looking to buy
We have a large database of qualified buyer prospects actively looking to purchase a home or investment property in the Paphos area. Selling with us couldn’t be easier and serious buyers don’t hibernate because it’s winter!
Author – Charina Cantarella (Cyprus101)