With the holiday season fast approaching the house market tends to slow, and those looking to sell their home are left wondering, if not now, then when is the best time to sell?
Based on the area you live in, and the property you are selling there are many factors to consider when looking for the best time to sell your home.
In this post, we take a look at the general industry consensus and what the data says about market fluctuation.
Those that are looking to sell a house in winter have a few things to consider. During the winter months you will be met with three main types of buyers, those that are looking to move before the holiday period, buyers looking to relocate to start new jobs, or those that are looking for a change in the new year.
Therefore it’s a great time to put your property on the market as most of the buyers have some sort of a deadline they are working against. Winter also brings less competition from other buyers to the market, so it is easier to stand out and grab buyers attention.
So, what does the data say about selling your home in winter?
We looked at the number of people searching for houses for sale in the United Kingdom during the year, and we can see that people start looking in December, and their interest almost doubles during January and remains high during February.
Spring brings a lot of buyers to the market, but it also brings a lot more sellers. This increases competition and makes the market fiercer.
There are a lot of benefits of selling your home in spring, not only that it improves the curb appeal of a home as trees, and grass bloom, but with school breaks and summer break coming closers buyers are looking for various properties with those deadlines in mind. This means that properties that might require extra TLC will get picked up easier.
According to TheAdvisory.co.uk, this is the best time to sell a house in England, as there are more buyers in the market.
In the height of the summer the market empties, and it can be difficult to sell a home, especially if it is a family home. During school holidays many families are focussed on entertaining the family leaving little time for house hunting - plus people are often away on holiday.
But be careful not to miss on the buyers looking to move, or especially relocate before the new school year. That’s when we see a slight increase in searches for houses for sale during August.
Selling your home during the autumn months really depends on your property.
As people come back from holidays, and children go back to school, families have more time to look for new properties. Also, as gardens turn with autumnal colours, it might be the best time to sell for those who have a lot of foliage in and around their property. And let’s not forget the serious buyers who couldn’t buy during spring and summer have the motivation to close before the holidays.
What about the data? While general searches for houses for sale (presented previously) drop during autumn, those that are looking to buy new builds and ready to move into houses increase during October.
Despite the data and the market conditions, you must consider other factors that can affect you (the sellers). Generally, if you are selling you are likely to be buying at the same time. Keeping a keen eye on the market in advance will help you align both your sale and your purchase.
Speak to our agents before you put your property on the market to understand how long it will generally take to sell a property in the local area and which properties tend to sell faster.