Happy New Year! Welcome to 2020.
With a new year comes new tasks in hand. Your new years resolution may be as small as to eat better, or it may be larger such as selling your property to move to your dream home.
If it is the latter, then it is crucial to understand when the best time may be for you to enter your property onto the market. Although, is there a best time to sell?
When is the bets time to sell?
Looking at statistics and research from past years, The Advisory believes that the best time to sell a property is around the spring time. However, even though statistics have conveyed this, the research done by The Advisory has been created on the average property. It hasn’t been created on specifics such as only four-bed houses within a certain area of the UK.
The Advisory have created a month on by month scale of when the best and worst times of the year are to put your property on the market. According to the Advisory, March is the best month to sell a property and January being one of the worst months to sell.
Why is January such a bad month to sell in?
Simply, the average days to sell a property from first listed to under offer/sold is long. March is the shortest month as it around fifty-seven days. Whereas The Advisory believes in January is about sixty-two days. On the other hand, this isn’t as bad November as the research conducted believes the average time to sell a property is around seventy-nine days. Specifically, this is between October the 14th – November 14th.
What dates in January should I avoid?
The Advisory also conducted research around each month in the year and which days customers needed to avoid. The research concluded that those wanting to move need to avoid the first days of January.
But why is this?
Well this is due to most of the UK population being on holiday or just finishing their Christmas holidays. Also, most companies and businesses will be shut within this time, such as solicitors and estate agents.
The Winter Period
Unfortunately, the winter period has always been slower compared to other months. However, are possibilities you can sell your property. Properties do still sell within this time; it just seems to be that everything within the process is much longer and more drawn out.
Should I sell straight after New Year's Day?
At the start of January, many homeowners enter the market looking to sell and purchase their dream home. Most do this as they have been stewing over December about selling their property and the New Year has brought a ‘new leaf’.
Although, even though most start to put their property on the market in January, property buying doesn’t usually start until the middle of February.
The start of January, as mentioned before, is the start of the ‘new wave’ of property on the market. Putting your property on the market in the middle of February is called ‘fresh to market’ according to The Advisory. This therefore makes your property more desirable due to it being a new listing on property search engines such as Rightmove.