Why it makes sense to put your home up for sale now

It is no secret that the Danish housing market has been turbulent since the turn of the decade. Several municipalities have seen historically high price rises, and growing demand has meant that homes have been snapped up as well. One of the main reasons for the trends in prices and time on the market has been that, for a long time, there have been more buyers than sellers.

Over the past few months, however, the picture has looked different. Since April, the number of viewings at the large estate agency chains, Brikk included, has been falling. Even so, there are signs that this may be turning around.

The number of homes viewed has just risen again from August to September. This points to a slow return to a more stable market. More viewings also usually mean more sales, and that can be really good news for people who either have their home up for sale or are thinking of selling. 

Several factors are behind the fall in viewings

There are several reasons why the number of viewings has been low since April. First and foremost, many people have been waiting for the market to “normalise”, with prices no longer rising and homes staying on the market for longer. That, at least, is what we have seen here at Brikk.

In addition, uncertainty about the timing of political measures has generally dampened activity and made people more hesitant than usual.

Rising interest rates have also played a part in the falling level of activity, which has meant in particular that smaller flats, often bought by first-time buyers, have been less popular.  

Why it makes sense to put your home on the market now

The falling number of viewings since April, the possible causes and the current rise in activity may prove to have a major impact on property sales for both current and new sellers. Sebastian Beres, managing director of the estate agency Brikk, offers the following advice:

“We are in a situation where there is still a backlog from the historic mismatch between supply and demand that we have seen over the past year and a half, with more buyers than homes for sale. On that basis alone, it makes sense for sellers to try to catch the tail end of this situation and put their home up for sale as quickly as possible. Rising interest rates could also reduce the number of first-time buyers for some flats in the future, especially if they rise further. Finally, we are now moving into a time of year that is normally very good for putting your home up for sale, and October and November in particular are strong months for selling homes.”

He continues: “I also have a feeling that, after a long period of lockdown, people have spent the summer months travelling and enjoying the good weather, but that now, in September and perhaps especially in October and November, they have time to focus on buying and selling homes again. I think we are seeing the first signs of that right now. So for those thinking of selling, I would recommend putting their home up for sale now, taking advantage of both the backlog from the mismatch between supply and demand and the fact that this time of year gives people more time to focus on homes now that society has reopened over the summer. They should also take the opportunity to sell as quickly as possible, and for as much money as possible, before any effects of interest rate rises and/or potential market interventions dampen demand and buyers’ options.”