WHEN IS THE BEST TIME TO SELL YOUR HOUSE

1. Summer has never been the best time to sell a home. If you’re trying to sell to families, you should remember that they’re either going to be away or busy with children during the school holidays.  July and August tend to be slower than average months to sell (65 days on average) according to our estateagent4me average speed of sale data.

2. Autumn can be a good time to sell. If the weather’s mild your home will still look good and there are no major holidays to contend with. October is often a good time for a speedy sale (62 days on average over the past 7 years).  Make sure you’re ready to move quickly as, in November and December, the number of potential buyers can slow down significantly.

3. Winter can be a difficult time to sell, especially in the run up to Christmas. If you’re not going to be ready to put your home on the market before December, it’s probably worth waiting until January when people are starting to think about the year ahead. Our estateagent4me data from the last 7 years shows January is one of the best months of the year to list your house for a speedy sale (60 days on average).

Simple, don’t sell. It’s much more important to choose a time that works for you. If you rush your home on to the market without preparing it and yourself, you could set yourself up for a fall. And if you do get a buyer, you want to be able to move as quickly as possible before they can change their mind.

Take some time first to make sure you have your home looking its best. That doesn’t necessarily mean spending thousands of pounds on huge renovation projects – just take some time fixing the little details, such as wonky gates and cracked toilet seats. 

I hear the market’s picking up, should I try and get on it as quickly as possible?

It depends. If you’re thinking of putting your house on the market at one of the traditional low points, such as Christmas or the height of summer, it’s probably worth waiting a while so you can enter it when you’re going to get the maximum amount of attention.

The longer your house is on the market, the more buyers will start to wonder what’s wrong with it.

 Is there a worst time of year to sell a home?

A season that is a favourite for many, summer isn’t necessarily best for home selling. Sales tend to temporarily drop in August due to the summer holidays when people go abroad and children are off school so parents have other priorities.

Interestingly during 2020, we carried out the most sales valuations in July, as due to the pandemic no one could go on holiday, and people were realising the need for outside space and wanting to move! However, now that the option to go on foreign holidays is getting back to normal, we anticipate that spring will resume its crown as the most popular time to sell.

Last but not least, we have winter. As the colder weather sets in, people are more focused on Christmas and therefore tend to decide to wait until the New Year before thinking of buying/selling. Presenting your home in the best light during viewings can be harder in the winter months – particularly outside areas. Flowers aren’t in bloom and general curb appeal is much harder to keep on top of if it’s snowing, windy or raining. However, although December tends to be the slowest month for house sales, by January this begins to pick up quickly again.

WHAT IS THE WORST MONTH TO PUT YOUR HOUSE ON THE MARKET?

Based on the Rightmove data, Mid-October to Mid-November is the worst time to put your home on the market with properties taking on average 79 days to go under offer.

DIFFERENT PROPERTY TYPES SELL BEST AT DIFFERENT TIMES OF YEAR

Property type is another factor that determines the speed of sales.

One to two bedroom apartments sell quickly in January and February as young professionals and couples seek to kick start their new year. This type of property also tends to sell rapidly in September, possibly because buyers have returned from their summer holidays and are keen to move before Christmas.

Family homes sell most slowly in the summer months, families with school-aged children are restricted to taking their summer holiday in July and August, so house hunting is put on hold during this period. Many find the prospect of house-hunting with the kids in tow distinctly unappealing, so these buyers tend to focus on term time.

Property types that appeal to the older market looking to down-size sell the quickest during the warmer months of June to September.

THE ROLE OF SUPPLY AND DEMAND

As well to 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.

OTHER CONSIDERATIONS

Is significant construction work planned near your property, for example, new blocks of flats, major renovations to adjacent buildings, or a mobile phone mast that 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: