Property experts have analysed sales data, and over the years, seasonal trends have emerged in the average number of days it takes to sell a home.
If you are thinking of selling your house, it makes sense to understand the seasonal trends in the property market so you can take advantage of the busy periods.
If you do have the luxury of choosing when to sell, this guide will help you understand the market fluctuations.
Spring (from February to June) is generally considered the best time to sell your house fast. The second-best time of year for a speedy sale is Autumn (Mid-September to October).
July and August are quiet periods in the property market as many people are on holiday. The run-up to Christmas (Mid-November to December) is traditionally the worst time of year to try to sell your property quickly.
The risk of putting your house for sale during quiet periods is that potential buyers may come to think that there is something wrong if it remains on the market for an extended period. You are also less likely to get a good price as buyers will expect to be able to negotiate the price down.
It’s not just the seasons, changes to stamp duty, interest rates and currency fluctuations, as well as political factors such as Brexit or a general election, can all have an impact on whether your home is likely to sell quickly.
Local factors also have an impact, long-term construction work near your property that can put potential buyers off.
Your estate agent will probably tell you that now is a fantastic time to sell your house. This is usually because they want your business and not because they are doing what’s right for you.
Analysis based on data from Rightmove, suggests that March is the best month to put your house on the market.
By ‘best’ we mean the quickest sale and getting the highest price for your home. This is what makes the spring a more popular time to buy and sell.
Based on the Rightmove data, Mid-October to Mid-November is the worst time to put your home on the market with properties taking much longer to go under offer and with less buyers looking means lower prices for your home.
As well as the demand-side factors we have already discussed (volume of buyers, interest rates, exchange rates and political and economic confidence), supply-side considerations also affect the housing market. A shortage of supply pushes up prices and means houses sell quicker. Excess supply will cause prices to fall and homes to remain on the market for long periods.
Is significant construction work planned near to your property, for example, new blocks of flats, major renovations to adjacent buildings or a mobile phone mast which will obscure the view from your property? These types of works are off-putting to buyers so it could be a good idea to wait until the works are finished before listing your property.
Don’t be pressured to put your home on the market before you are ready; it is much more important to choose a time of year that works for you.
If you do end up putting your home on the market during a typically quieter period, we advise that you:
If you are thinking of selling or just want advice on selling, please feel free to get in touch with us. We are contactable 24 hours a day, 7 days a week on 0121 430 4448 or email in your enquiry to firstname.lastname@example.org.
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