When it comes to selling your house there are lots of decisions that need to be made. Where will you relocate to, what kind of property do you wish to buy, and who will you sell with? But one of the questions you may not think about is when is the best time to sell your home.
While you might not believe it, the time of year that you put your home on the market can have an effect on the speed of your sale.
In this blog post, we will be looking at the best time of year to sell your home, as well as the advantages and disadvantages of selling in each season.
Looking for a quick answer? Check out our drop-down menu below!
- When is the best time of year to sell a house?
- What about the other seasons?
- When is the worst time of year to sell your house?
- When is the best month to sell my house?
- How do supply and demand affect the market?
- Which different property types sell best at different times?
- When should I put my house on the market?
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When is the best time of year to sell a house?
Selling a home at any time of the year comes with its own pros and cons, however, spring is often hailed as the best time to sell your home. This is thought to be because Spring does not fall between or during any school or public holidays.
Another reason why spring may be the best time to sell is that gardens will often be in full bloom, making them look a lot prettier than they would in the winter months.
What about the other seasons?
Now we know the best season to sell your home, we can have a look at how the rest of the seasons compare when it comes to selling your home:
- Summer: It is widely believed that summer is the worst season to sell your home. This is because a lot of buyers may be preoccupied with summer holidays, school holidays, and childcare during this period, leaving almost no time for house hunting. According to data from esdtateagent4me, it takes on average around 65 days to sell your home should you put it on the market during July and August.
- Autumn: Not many people realize that autumn can be a great time to put your house on the market. If you are lucky, the weather can be mild and you won’t have to worry about competing with any major holidays. October is known as a particularly good month to put your home on the market.
- Winter: This is another season that can be particularly tricky to sell during. Everyone is planning the run-up to Christmas and the last thing they want to be worrying about is finding a new house to live in. If you don’t fancy putting your home on the market before December, then you may be as well waiting until January when people are starting to think about changes in the new year. If you are looking to secure a quick sale then January may be the month for you. According to data from estateagent4me, January can be a good time to sell your house as it can take an average of 60 days.
When is the worst time of year to sell your house?
As we have already discussed, the worst time to sell your home would be either the summer or winter months. This is because during these times people are preoccupied with summer holidays, childcare, and Christmas.
What about the other seasons?
The best month of the year to sell is… March. This is thought to be because gardens will be coming into full bloom, and there are no major holidays to compete with.
Does where I live make a difference?
Whilst seasonal changes are pretty much the same across the country, it is always worth checking the local housing market in your area. You may find prices are better than expected, or you could be alerted to potential works that could ruin your sale.
How do supply and demand affect the market?
When it comes to selling your home, the biggest factor that will have an effect on the speed of your sale is the issue of supply and demand. The best time to sell a property is when demand is at its highest and supply is at its lowest. Whilst it can be tricky to know exactly when this is, the NAEA produces a monthly housing report which can give you an idea about what is happening across the country.
Another way you can check the levels of interest is through property portals such as Rightmove, who publish their traffic index, allowing you to see when the number of users is at its highest throughout the year. You can also look at buying a house like yours in your area and check to see how many competing properties are on the market.
Which different property types sell best at different times?
As we have previously mentioned, different types of property sell better at different times of the year. Whilst a family home may not sell fast in summer, a one-bedroom flat may. Below we have had a look at some common property types and when the best time of year to sell them is:
Family homes:
If you are looking to find a buyer for a family home, then the best time to sell would be anytime outside of the school holidays. This is because most families will be too busy during school holidays to even think about househunting.
1 & 2-bed flats and terraces:
When it comes to selling 1 and 2-bed flats and terraces, sellers will want to put their homes on the market in either January, February, or September. This is because your target buyer will usually be first-time buyers and young couples who will be prompted by having one last Christmas at home and are eager to get moved out. After the summer holidays is also a good time to go on the market as buyers will be hoping to be in their new homes for Christmas.
Bungalows:
The potential buyers for a bungalow are usually elderly people who are looking to downsize. Because of this, the best time to sell is usually in the bright, warm months between June and September.
When should I put my house on the market?
While spring is the best time to put your house on the market, you are able to sell your property at any time of the year. A successful sale depends on a variety of factors such as buyers’ personal situation, where you are marketing your property, and the property type.
If you are looking to sell quickly, then you will want to get your property on the market as soon as possible, but you may need to be willing to accept a lower price than you were hoping for. And if you are trying to sell a family home, you should look to avoid the summer holidays as most families will be preoccupied during this time.
However, if you are not in a great rush to sell, then you can afford to take your time, study the market, and weigh up when would be the best time for you to sell. This covers everything you need to know about the best time of year to sell a house. If you have any questions, queries, or insight into the matter, feel free to get in touch!
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Alexandra is a junior content producer who enjoys writing articles and finding out more about the property market. Read more about Alexandra here.
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