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When is the Worst Time to Sell a Property?
If you own a property that you are thinking about selling, there are several factors that you will need to consider before putting it on the market. Not least, it’s important to think about the best and worst times of the year to sell your home. If you are able to choose when to put your property on the market, the good news is that some times of year are better than others, with more buyers actively looking for homes and more competition, which can drive up the value of the offers that you get on your home. However, there are some months of year where selling your house is best avoided.
Certain times of the year do not attract very many buyers for several reasons, and as a result your home could be on the market for a long time or you may end up selling for a lower asking price than you had hoped for in order to get a quick sale. Understanding the best and worst times to sell your house can make a huge difference to the price that you get and the smoothness of the sale process.
When’s the Worst Time of Year to Sell a House?
Generally speaking, winter is the worst time of year to sell a house, with the exception of January, when some buyers might be looking for a change to mark the new year and will start house hunting again. After October, the market tends to get a lot quieter and you are less likely to find prospective buyers who are actively looking for new properties to consider purchasing. After October, people are starting to prepare for Christmas and the majority of buyers are looking to avoid buying a house now so they don’t need to go through the stressful process of moving house over the holiday season.
However, the worst time of year to sell your house could also vary depending on who you are looking to sell to. If you live in an area where a lot of the population follow different religions and Christmas is not very important to them, the general rules regarding selling in the winter may not be as applicable to you, although you may find that you still get a lower price for your home due to the lack of competition at this time of the year. On the other hand, if you are selling a three- or four-bedroom house that is aimed at families, you may not get much luck during the summer school holidays, whereas other buyers may be more interested.
What is the Worst Month to Sell a House?
In general, December is considered to be the worst month of the year to put your house on the market. This is because most buyers are preparing for Christmas and do not want to add a house move to the stress of the holiday season. In addition, cold and wet weather often means that people are not thinking as frequently about moving house as they might during the summer months. On the other hand, December is a great time of year to consider buying a house since the competition is low and the chances of you finding your ideal property at a great price is much higher compared to spring and summer. Homes that are sold during the winter tend to achieve a much lower price compared to houses that sell during the warmer months, which isn’t great news for sellers but provides an excellent opportunity for buyers.
January is an average month for buying a home. You might find that the market begins to pick back up again due to people looking for a new start in the new year, which leads them to start hunting for houses to view with a look to buy. On the other hand, January is also a month where a lot of people will have less money after the holiday season, and many will consider waiting until February or the beginning of spring to start house hunting.
The Worst Time to Sell a House – Other Factors to Consider
The condition of the market at the time of year is not the only factor that goes into the best and worst times to sell a house. The weather itself might have an impact on how well your house sells. This is another reason why more homes tend to sell during the spring and summer, as gardens look better, the lighting is good, and good weather means that viewers can spend more time exploring the outdoor space of a property – a feature that is becoming increasingly important. It’s also easier for you as the seller to make certain improvements to your property during the warmer months before putting it on the market.
School holidays are another key factor to consider if you are selling a family home. During school holiday periods, most parents do not want to take their kids on viewings, so your house is less likely to sell during these times. If you are selling a family home that you expect to attract parents with children, then it’s a good idea to familiarise yourself with the school holiday dates in your area and try to put your house on the market in good time before they begin.
Finally, it’s not just the time that your house goes on the market that can impact the sale. Consider the other similar properties that are for sale in your area and be sure to offer a competitive price and benefits that cannot be found elsewhere by adding improvements to the home. Bear in mind that since spring and summer are the most popular times of year to buy and sell a home, it’s important to be as competitive as possible when putting your house on the market to avoid having it stay up for sale for a long time.
If you want to sell your house, the time of year that you put it on the market can have a huge impact on how much interest you get and how much you can get for the property.