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When Is the Best Time to Sell a House?
If you are thinking of selling your property, it’s worth bearing in mind that there are times of the year that lend themselves better to property sales compared to others. When you put your house on the market will impact the time that it takes to find a buyer and could even impact the sale price. If you are in a position to choose when to sell your home, it’s worth learning more about the best times and worst times to put a house on the market.
When is the Best Time to Sell a House?
Traditionally, spring is said to be the best time to sell your house. However, this shouldn’t be taken as gospel since many other factors can impact the sale, such as the type of property that you are selling. The market tends to be the most active March-July. February, September, and October are also good times to sell a home, but it’s more likely that you will run into problems when selling during November, December, and early January. Mid-January is often the best time to sell if you are considering a winter sale since the start of a new year often means that people are looking for a change.
When is the Best Time to Sell My House?
While March, April, and May are statistically the best time for a house to sell while August and December are best avoided, this is not always the case. The truth is that to sell your house quickly and successfully, the best time to sell is when there are lots of buyers who are actively looking for a new property. High levels of demand and low levels of supply will help your house sell faster. Competition between buyers over other available properties can have a positive impact on your sale price, and the more buyers there are and the fewer properties that are up for sale, the more intense the competition will be. To understand the supply and demand for houses like yours at the moment, you can conduct a property search as if you were a buyer looking for a house like yours, which will enable you to see if there are lots of competing properties for sale currently.
When is the Best Time to Sell Property Quickly?
Selling your property quickly will also depend on the type of house since different property types tend to sell best at different times of the year. For example, one and two-bed flats and terraced houses tend to sell better during January, February, and September. They are often bought by young couples and first time buyers who decide to buy after their last Christmas at home, which prompts them to start house hunting after New Year. On the other hand, three and four-bed family homes tend to sell the best outside of the school holidays. Bungalows and retirement homes tend to sell better during the warmer months of the year.
When is the Best Time to Sell Your Home for More?
Despite what you might hear in the media, house prices don’t simply go up. Instead, they will naturally fall and rise throughout the year based on the supply and demand levels. This is quite regular, but can sometimes be disrupted by outside events such as Brexit or, more recently, the holiday on Stamp Duty Land Tax, which has prompted many buyers to look for a new home outside of the regular times that homes are likely to sell well.
Historically, spring and early summer have always been thought to be the best time to put a house on the market. The market will typically pick up after the Easter Bank holiday, remaining active until the beginning of the summer school holidays. Spring also makes a great time to sell for various other reasons including gardens being in bloom, excellent light, and good weather that can help to paint your property in a better light. Properties tend to look their best at this time of the year and the market is full of prospective buyers. Buyers are more likely to go house hunting when the weather is nice. However, the downside is that in the spring, you are more likely to be dealing with a higher number of competing sellers with many having the same ideas for putting their house on the market at this time. Pricing your property competitively is often necessary to spark bids.
Summer, on the other hand, can depend on who your target buyer is. If you’re looking to sell your home to a family, the summer holidays might not be the best time to sell. In addition, more people tend to go away during this time of the year, which can slow down the market. If you have to sell your property in the summer, getting it on the market as early as possible will help you increase your chance of a quick sale and a good price.
Autumn is often a good time to sell a house, with many buyers motivated to find somewhere new before Christmas. However, it’s important to avoid coming into the market too late since nobody wants to be moving house over the holidays. After October, the number of buyers in the market tends to slow down significantly.
Winter is not an ideal time to sell, with most buyers looking to enjoy the holidays before starting their search again in the new year. That being said, winter can be an ideal season for buying a home, with many sellers who are still in the market happy to negotiate on price.
When is the Best Time to Sell Your Home After COVID19?
If you want to sell your home as soon as possible, it’s worth understanding the impact that the COVID19 pandemic has had on the market. Currently, the stamp duty holiday is in place until the end of June, so it’s unlikely that buyers are going to be able to take advantage of this if you put your house on the market now. But they can still get reduced stamp duty costs until September, so it’s worth putting your property on the market as soon as possible.
Knowing the best time to sell your home can make all the difference to the sale length and price that you get.