A lot of people ask when to sell a house.
In short; when there are as many people looking to buy as possible.
This is because the competition between buyers will raise the achievable sale price.
The general idea is to avoid a quiet market. This is because you want your property to retain its “fresh to the market” appeal. After a month or so the property becomes less appealing and buyers become suspicious. They tend to assume there is something wrong with it and then avoid it.
Estate agents can also get bored of a property if it stays around for too long. It may then become what’s known as a “Turkey” and be neglected, causing further disappointment.
The Best Time To Sell Your House – Seasonal
Selling a House in Spring:
Spring is the best time to sell a house. This is generally because good weather and in-bloom gardens make properties look their best. There is usually a lot of sun which makes buyers more prepared to house hunt, and families tend to try and coincide new purchases with the end of the school year.
There is also a lot of buyers about after the Christmas lull and the Easter holidays provide a lot of time off.
Selling a House in Summer:
The height of Summer is not a great time to sell a house and you usually get mixed results. School holidays take up a lot of parents time and a lot of people go away on holiday.
August has a particularly desolate property market. If you want to sell your house in summer, its best to do it as early as possible.
Selling a House in Autumn:
Autumn is a good time to sell a house but not quite as good as Spring. As long as you don’t leave it any later than Mid-November you’ll have nothing to worry about. Holidays are over and with the beginning of school term, parents have a lot more time to house-hunt.
Selling a House in Winter:
Winter isn’t the most ideal time to sell, and we would recommend trying to hold out on selling until after the New Year.
The combination of Christmas, family commitments, and cold weather make the winter a pretty bleak selling period. Most people are busy and are usually spending money on other things.
Things To Consider
In reality, there are buyers all year round, and it only takes one of them to purchase your house, so don’t worry too much if you’re selling in a quiet month. Its just best to be aware that you will be at a disadvantage, and prepare accordingly.
You will also have to consider any council works that might affect your sale. For example, new blocks of flats that might obstruct a view or new roads bringing in extra traffic.
If you know about these things, your buyers solicitor will have no problem finding them out too. Its best to wait until any planned works are completed, as buyers will be more likely to close on a deal. They tend to hold out until they know the effect that these types of factors have on property value.
You could also remind your estate agents to keep property photos up to date to maintain the “fresh to market” appeal. You don’t want pictures with a Christmas Tree up in February!
Think carefully about how and where your property will be marketed – the more aggressive the better, but also be realistic about your asking price. Remember – the key is to encourage as much competition as possible.