When is the best time of year to sell your home? If you have another property lined-up and are in a rush to move, then the response is likely to be right now! But if you are in a fortunate position with the luxury of choice – could you get a better price and a quicker sale if you pick the right time of year? Traditional wisdom is that spring is the best time to get your property sale started, but this conventional view can be challenged. There are many schools of thought on the best and worst months to list properties, with your local area, fluctuations in the property market, pricing, size and style of home all impacting the decision.
With these complex factors in mind, we’ve put together our ultimate guide on the best and worst months to sell your home (as well as when to just go for it). Following our key tips and advice, you’ll be able to list your property with confidence, knowing you’ve done all you can to sell your house for the best possible price.
Should I sell my property in spring?
Let’s tackle this common advice first – that springtime is the best time for house sales, both in terms of price and speed of sales. Conventional wisdom states that late spring (April and May) are the best months to put your property on the market, with buyers looking to move before the summer months. Sales are unquestionably high during this time, with gardens blooming, photography appealing, and the warm weather tempting more prospective purchasers out of hibernation.
Whilst this is all true, analysis of Rightmove data has shown that properties first listed in March tend to sell quickest. At an average of just under 60 days (compared with the annual average of around 100 days) – houses beating the rush and listing in early spring outperform in terms of speed. So although many sales happen in April/May, the best time to list your home for a quick sale is actually a month before this.
Price is of course another factor to bear in mind, as well as the speed of sale. This is largely impacted by supply and demand in the market. So whilst early March is best for a quick deal, is it also the right time of year for the highest possible price?
When am I likely to get the best price?
House prices fluctuate seasonally (with higher prices in summer and lower prices in winter), but not as much as you might think. The market slows in November and December (with average prices decreasing by around 0.5%), further declining during January and February to a low of -1%. Things gradually get better throughout March, April and May, rising to a peak of +1% in June and July. Prices then steadily descend through August, September and October, back to a steady average.
Do remember that these are the months that sales are going through (and mortgages approved) – not when properties are first listed on the market. With this in mind, if you want to catch the June/July high, listing your property earlier in the year will pay dividends. With average selling times of around 100 days – this suggests that whilst prices are lowest during January/February, this could be the best time to put your house on the market to achieve the highest possible price.
These fluctuations are no more than 1% higher and lower than average prices, however. So whilst an early listing may help your house sale, don’t place too much importance on this data. A quick sale is more likely to result in a higher final price, and this is where it is vital to pay attention to how strongly your local market is performing.
How is the local market performing?
Understanding whether you are in a buyer’s or a seller’s market will impact your decision to list your property, no matter what the time of year. The best time to sell a house is simply when buyer demand is high and seller supply is low.
A buyer’s market refers to a situation with low buyer demand. There may be more homes on the market (supply) than there are interested purchasers (demand). This isn’t great for sellers, often meaning that houses are on the market for a long time, selling for lower prices. Conversely, a seller’s market refers to the opposite situation – where there is high buyer demand and a low number of homes on the market. This is an ideal time to list your property, as unlike a buyer’s market, homeowners have the advantage with competition resulting in higher prices and quicker sales.
To analyse buyer demand, you can take a look at Rightmove’s traffic and property price index. This is published data that will help you understand how many people are searching (and buying) properties across the country. You can also check the number of properties for sale (in your price bracket and local area) across online listings.
What is the best time to sell my type of property?
Don’t forget to think about the type of property you are trying to sell. A small two-bedroom terrace is more likely to appeal to young couples and first-time buyers, whilst a country home with multiple reception rooms and a large garden will attract families looking for much-needed space.
If you’re looking for that magic combination of the highest price in the shortest amount of time, it’s advisable to put your home on the market just as the number of buyers searching for your type of property is rising. So what are the best and worst times of year for your style of home?
One and two bed flats and terraces
These types of property often appeal to first-time buyers and young couples. Such buyers are most likely to make a “quick start” in the year, beginning their search straight after New Year celebrations. They are also more likely to have time available over the summer months, looking for a move to be completed before Christmas. With this in mind, January/February and August/September are good times to list for the younger market.
Three or four bed family houses
If your three, four (or more) bedroom home is likely to appeal to those with children and already on the property ladder, then avoid the school holidays. Viewings are less likely to take place during these periods, so research school timetables and bear in mind the Christmas, Summer and Easter breaks – as well as half terms throughout the year. Anytime after these periods is a good time to list, i.e. late January (after the Christmas holidays), or late April (after the Easter break but before the long summer holidays).
Retirement properties and bungalows
If you are selling a bungalow or retirement property attractive to an older audience, then listing during the summer months will result in the most viewings. Avoid coming to market during the winter (October, November, December), when demand is at its lowest. Early in the year should also be avoided (January/February), as your property might be on the market for a long time before viewing requests pick-up.
Are there any times of year to avoid?
Whilst we’ve already seen that summer months (June and July) are the busiest times for completions, this is not the case for viewings. Many potential purchasers will be away on holiday or busy with children – and the homes selling in early summer are likely to have been listed a few months prior to this (i.e. in March and April). As a rule, late summer and autumn aren’t great times to launch your property. There tends to be a short-lived surge of interest in September (once the school term has begun – resulting in a small window of opportunity), but this drops off fairly rapidly over October and November to a low in December.
Properties listed towards the end of October take the longest on average to generate a sale. If you haven’t found a buyer for your property by mid-November and your property has already been on the market for a substantial amount of time, it may be worth withdrawing your home and relisting early the following year.
In summary
The best time to sell your property depends on a number of factors. Whilst there is no “one size fits all” approach, there are certain considerations to bear in mind. If you are looking for a quick sale, March is a great month, whilst if you are prioritising a high sale price – opting for an earlier listing and beating the rush might work in your favour. Retirement properties may benefit from an early summer listing, whilst those appealing to a younger audience are best listed at the start of the year. Christmas doesn’t tend to be a good time for house listings, no matter what the type of property.
Despite all this, if you want to sell your home quickly, the best thing to do is put your home on the market as soon as possible – no matter the month or market conditions. If you are selling in a less favourable month or during a “buyer’s market”, advertising a lower asking price may be your best tactic. Whenever you decide to list your property, we wish you happy home selling.
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