Ask The Agents: When Is The Best Time To Sell A House?
Looking to get your property up on the market and sold off to its next owner? Before you make any hasty decisions, take a moment – is it the best time to start the selling process, or would you be better off waiting?
In the world of real estate, deciding when to sell your home is just as important as deciding how to sell your home. The property market is an ever-shifting environment, influenced by seasonal trends, economic conditions, and local factors; making sure you have an understanding of the way these will impact your unique property is what’s going to make for a speedy sale at the price you’re after. Keep reading for our take on timing your house sale for maximum success.
Seasonal Trends in the Housing Market
Spring: The Traditional Hotspot
The majority of estate agents will tell you that spring is always a winner when it comes to securing a house sale. Spring lets sellers showcase properties in their best light, with the warmer months lending some much-needed sun to front yards and back gardens, and making for the perfect viewing opportunities when it comes to home staging.
Spring is also a prime time from the buyers’ perspective, as the majority of people will prefer to make their move over the start of the summer months. After spending the Christmas period browsing online, they will be ready to take their purchase seriously and start putting in some offers. This influx in interest means more competition, which gives room for sellers to up their prices – another win for spring.
Summer: Swings & Roundabouts
Summer can be a mixed bag in terms of selling – the start might see some momentum from the success of spring, but with families off enjoying themselves during the peak holiday season at the tail-end, the market will usually slow down a little.
Having said that, if you’re selling in an area that’s popular with holiday-makers or second-home buyers, or maybe you have a property with strong summer appeal on your hands such as a home with a garden or patio, this will be your time to shine. You have the chance to showcase your home in its best light now, so use this golden hour while you can.
Autumn: A Less Crowded Market
As the weather begins to cool, autumn presents a less crowded market to take advantage of if you’re on the fence about whether to wait out the winter or get selling. September and October are particularly opportune months, as families return from holidays and the school year starts, with the attractive autumn colours giving a warm touch to your kerb appeal.
Winter: A Hidden Gem
Winter rarely takes centre stage when it comes to the best times to sell a house, but as the market is usually quieter during the festive period, the buyers who are still looking will generally be more serious about their purchase. This could give you more opportunity to sell at a higher price point, if that’s what you’re looking for.
Timing Your Sale With the Seasons
At Zest, we’ve observed that while spring remains the real estate go-to on the selling a house checklist in the UK, the new year (particularly January and February) is often overlooked. In our experience, these months can be highly effective for selling a home, with the newly motivated resolution-makers and more serious buyers in the market during these quieter months making for less competition, and more room for your property to shine through.
With fewer listings to choose from, it’s likely that your home will attract more interest during these months. This is one of the ways that renting differs from selling – choosing to rent out a home during winter is a recipe for disaster, but it can work wonders for securing a successful house sale.
Economic & Local Factors
Seasonal trends are only one factor to consider when it comes to the prime time for property selling. The economy and local market have a huge impact on the average sale time for a house.
Take a look at the market around you – how strong is the local economy? What are interest rates like on houses similar to yours? Demand can peak and trough at any time of year, so it’s important to remain aware of your surroundings if you want to get the most out of your sale.
Local Market Conditions
This is the real crux of understanding not only when you should be selling, but how much you should be looking to sell for. If the market is particularly strong, with high demand and rising prices, it might be worth jumping on board and getting your property listed, rather than waiting around. On the other hand, if the market’s not doing so well, put a pause on things and take some time to wait for the right moment.
This is where the seasonal influences will come into play; in a seller’s market, where the demand exceeds supply, properties tend to sell quickly and at higher prices, meaning you can feel free to get your property up for sale no matter the time of year. Conversely, in a buyer’s market, where supply exceeds demand, you might be better off waiting for the prime selling season, such as spring, in order to boost your chances of a speedy sale.
It’s also worth having a look around to see if there are any upcoming developments or infrastructure projects that could likely increase demand in the local area. Is there a shortage of properties like yours, or will your house be one of many on the local market?
It’s straightforward enough to do your own research here, but working alongside a local estate agent who has a key awareness of the property market in your area is what’s going to really allow you to tap into the best time to sell.
Economic Conditions
In a broader sense, economic conditions also have an impact on peak selling times, such as inflation rates, employment levels, and consumer confidence. A strong economy makes for a greater level of buyer confidence – people will naturally feel more comfortable in making such a strong financial commitment, making for a boost in the market and more opportunity for you to secure a good sale.
Prep Tips for Selling Round the Year
Regardless of when you decide to sell, there are some non-negotiables that you should always be focusing on to boost your chances of a sale, namely decluttering, deep cleaning, and staging your home to showcase it in its best light, not to mention the importance of professional photos and a strong online presence.
However, here’s some quick tips to keep in mind for the time of year you decide to go for:
Spring & Summer
This is the time when you can really get creative with enhancing your kerb appeal. Make sure your garden is well-maintained, and that your home is fresh and bright, with plenty of plants, flowers, and natural touches to add to the fresh sense of summer.
Autumn & Winter
During the darker months, transforming your home into a warm, cosy haven is key for creating an inviting space that people will naturally warm to. Soft lighting and plush decor will be handy here, as well as any seasonal touches if you want to create some festive cheer that will make your home stand out in your potential buyers’ minds.
How We Can Help
Are you looking to get your house up on the market and sell to its next owner? At Zest, we’re passionate about guiding homeowners along each and every stage of their property-selling journey, bringing our years of experience and wealth of local expertise to make sure you’re selling at the prime time for your specific home. Get in touch today if you want to hear more about how we can help you get your house sold.
