Considering selling your home and venturing further up or down the property ladder? Timing is crucial in this endeavour, as it can help draw in many buyers and secure the most favourable price for your property. It’s essential to ensure that your most prized possession is sold at the prime time and most effectively.
Springtime proves to be a golden opportunity for marketing your property. From February to June, the housing market springs into action as prospective buyers commence their search for a new home. This time of the year typically sparks many people’s desire for change and fresh beginnings.
The decision to purchase a new home
This often translates into the decision to purchase a new home. However, the process of house hunting and viewing enough homes to make an informed decision usually takes a couple of months, which aligns perfectly with the arrival of spring.
Moreover, the aesthetic appeal of homes significantly increases during spring. With gardens blossoming and ample natural sunlight illuminating the houses, they naturally look more appealing. Additionally, the favourable weather conditions of spring are more conducive to house hunting, especially for those travelling considerable distances to view properties.
Better mood and more open to major decisions
Spring also typically fits well into most people’s schedules. The season witnesses fewer holidays, and people are generally in a better mood and more open to major decisions like moving houses.
The subsequent ideal period for selling is autumn, specifically between September and October. During this season, many individuals aim to secure a new home before the festive period of Christmas. So autumn can be a good time to sell a house. While fewer buyers tend to be in the market than in spring, they are often more motivated. This is because of a tighter timeline of moving before winter looms.
Your house should still look attractive
Unlike in summer, children are at school, so people have the time to house hunt, and while the weather holds out, your house should still look attractive. October, in particular, is a good time for a speedy sale. But do not leave coming to the market too late. Nobody wants to move over Christmas, and November is generally the worst month possible for marketing a house.
On the flip side, the quietest periods for the housing market are the summer months of July and August. While summer may be a season of sunshine and holidays, it isn’t necessarily the best time to put your house on the market. There are several reasons why this period often sees a slowdown in real estate activity.
Families typically begin their house hunt earlier in the year
Firstly, the summer months can be quite hectic with children out of school and families planning holidays. This leaves little time for prospective buyers to browse the housing market and attend viewings.
Additionally, families typically begin their house hunt earlier in the year to settle into their new homes before the next academic year begins. This minimises disruption to their children’s education and allows for a smoother transition.
Timing your property’s listing to yield better results
Therefore, the summer months may not be ideal for marketing larger properties that will likely attract families as potential buyers. The house-hunting activity usually picks up again in September when the kids return to school. Thus, timing your property’s listing for this period could yield better results.
Moreover, factoring in the average timeline of a no-chain house sale, typically 16 weeks, a September listing aligns well with buyers’ desire to move into their new homes before Christmas.
Buyers who might be less willing to venture out for viewings
However, one exception to this trend is bungalows. These properties are often popular among older buyers who might be less willing to venture out for viewings in colder, darker conditions. Therefore, they may continue their house search during the summer months.
Selling a house in winter can be difficult compared to other seasons. Given the chillier temperatures and shorter daylight hours, fewer people are inclined to travel around for house viewings. This can lead to less foot traffic and lower offers for your property.
Employ a few strategies to navigate these challenges
However, sellers can employ a few strategies to navigate these challenges effectively. Some real estate experts suggest temporarily removing your listing from the market if it hasn’t sold by Christmas, only to relist it in the New Year. This could be as early as Boxing Day, but waiting until February is typically advised.
The rationale behind this strategy is that while many people start their house hunt in January, they usually don’t make purchase decisions until February. By relisting your home in February, your property may stand out from those that have been on the market since late December or early January. These listings may seem less appealing to buyers who have been searching for a couple of months.
Selling your home during these less active periods
While selling a house in winter requires more strategy and patience, it’s not impossible. You could still find the perfect buyer for your property with the right approach. However, opting to sell your home during these less active periods could result in your property lingering on the market. This could lead to buyers suspecting issues with your home. On average, selling a property takes approximately 25 weeks, from the initial listing to the final exchange of keys with your buyer.
In 2023, according to Zoopla, properties were under offer within an average of 35 days from being listed. However, the process of selling a home is subject to various factors and can span anywhere between 17 and 34 weeks. The main delays often occur due to poor communication, conveyancing or mortgage application process postponements and prolonged searches.
Ready to secure your dream home? Let’s make it happen!
Whether you’re a first-time buyer brimming with excitement or an experienced homeowner seeking your forever home – the process of securing a mortgage can feel overwhelming. But don’t let that deter you from your dream. With the right information and guidance, this journey can be navigated successfully. To discuss your mortgage options, contact our team.
Please note: a mortgage is secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
