When you decide to put your house on the market, the time it takes to find a buyer for your property will certainly impact the price of your property. If your property has been sitting on the market for months, then chances are that you might have to accept a lower offer to make a sale. On the other hand, if you find a buyer within days or weeks of putting your house on the market, you as a seller have the upper hand when it comes to negotiations. So, if you do have the luxury of time, and if you have the luxury to choose when you want to put your house on the market for a quick and seamless sale, here is some advice from expert estate agents as to the best time to sell your home.
Most estate agents agree that spring is the best time to sell your home. If you are thinking about putting your house on the market in spring, then you should opt for an online house valuation in the early months of the year to have a fair selling price in mind. According to the experts, March is the best time to put your house on the market to ensure a quick deal. On average, it takes 57 days for a property to sell if it has been put on the market in March. Of course, we need to keep in mind that this is an average selling period and it differs from property to property.
During the summertime, most people are away on summer holidays. Hence, summer is a good time to buy a property because of the lower buyer demand, but it might not be the best time to put your property on the market. However, if your target buyer is an older audience, then the summer months might be ideal to put your house on the market. The autumn months can be a mixed bag; the trick to selling your house in the autumn months is to get to the market early. Some experts believe that the early months of autumn will ensure a quick sale while others believe that very few buyers enter the market in these months. Again, this depends on the type of property that you are selling. Market experts say that the winter months are the best months for serious sellers and buyers. Usually, buyers and sellers who are looking to buy or sell property in December and January are looking to close quick deals, which means they are serious buyers.
Essentially, there is no optimum period for selling your property. While some experts do claim that spring is the best time to sell your home, it really does depend on the type of property that you are trying to sell. For instance, January and February are the best times to sell one-bedroom and two-bedroom flats, as first-time buyers, working professionals and young families will be interested in such properties. On the other hand, March and April as well as September and October are good months to sell three or four-bedroom houses as these properties will most likely be bought by families who are looking to move before or after the summer holidays.
Typically, there is no set time for the rise or fall of property prices in the UK. Throughout the year, the average price of the property will rise and fall based on buyer demand. For instance, when the concept of work from home came about, the demand for bigger homes, properties without outdoor spaces and houses with backyards and garages was on the rise. Homeowners and potential buyers were looking to move out of the city and into the suburbs, where they could get bigger and better properties for lower prices. So, while the demand for certain properties rose, the demand for certain properties declined.
Let’s not forget that government schemes, such as the recent stamp duty holiday can also impact buyer demand which in turn will impact the cycle of house prices. As a rule of thumb, sellers should try to sell their property within 4 to 6 weeks of being on the market; this 4 to 6 week period is the golden period of selling as the buyer interest is the highest at this point which means competitive bidding. Essentially, potential buyers are available all year round. A seller just needs to price it right and showcase the best features of the property to ensure a sale, no matter what month.