Best Time to Sell a House
Many estate agents and property experts suggest that the best time to sell a house is during the Spring when demand is at its highest. However, this isn’t as clear-cut as you might expect, even when you look more closely at yearly average sales figures.
Although the property market in the UK does tend to follow the same trends each year, this can be influenced by additional factors such as how quickly you want to sell, whether you’re willing (or able to wait) for the best price and who is most likely to be interested in your property in Bath, Bradford-on-Avon or Somerset.
If you can understand these specific factors, you’ll be better able to use them to your advantage and become more strategic when it comes to selling your property.
In this article, we will explain the best and worst times to sell a house and how you can rely on our trusted, experienced and independent team here at Cobb Farr to help ensure your sale runs smoothly.
What is the best time of year to sell a house in the UK?
Overall, it’s better to sell your home when supply and demand are in your favour and you can sell faster for your full asking price. However, seasonal fluctuations in the market, the differences between individual buyer needs, and how quickly you need to sell your home are likely to influence your decision of when to list your property.
Spring is often said to be the best time of year to sell your home, especially during the months of March, April and May.
According to the Office for National Statistics, “UK average house prices increased by 12.4% over the year to April 2022, up from 9.7% in March 2022”, meaning that the likelihood that you’ll sell your home is at its greatest at this time of year.
After the cold, dark months of the winter, potential buyers are feeling more energetic, your garden is likely to be in full bloom and, thanks to the abundance of natural sunlight, your property will look more attractive.
With fewer holidays and excitement about the future and the school year in full swing, we find that potential buyers are more eager to view properties and make an offer. List your property early or get ahead and start during the winter and it’s more likely your home will sell for its optimal value.
Let’s not forget that if you’re house hunting, you are more likely to find your dream home in Bath, Bradford-on-Avon or Somerset with greater ease during the spring.
During the summer months, the property market in the UK usually slows down significantly as the school summer holidays arrive and people prefer to relax, enjoy the weather and perhaps enjoy a holiday abroad.
However, this doesn’t mean that it’s a bad idea to put your house on the market at this time because there are certain advantages to selling your property at this time of year.
With the abundance of sunlight, longer daylight hours and the garden in full bloom, your home will have greater curb appeal and it becomes much easier to show your home to potential buyers.
Also, let’s remember that not everyone travels or has the luxury of waiting for months to wait for the market to pick up again. Indeed, for families who prefer to close the sale and move before the start of the new school year, this could provide you with an advantage.
This means that if you sell your home during the summer months, you could sell faster and potentially receive higher offers, especially if your property is located in Bath, Bradford-on-Avon or Somerset and close to a highly-rated school.
Autumn can also be one of the best times to sell your house because the children have returned to school, most people have returned from their summer holidays and the festive season hasn’t yet started.
Due to the fact that the weather isn’t as harsh as later in the year, your home and garden could still look appealing to potential buyers, more so if those gorgeous seasonal colours or red, yellow, orange and gold surround your property.
Whether or not this will be to your advantage depends on your potential buyer’s circumstances and their reason for moving.
If motivated, some may want to move before the start of the New Year so they can enjoy a fresh start in their new home and so are more likely to make an offer fast. Others may have children at school and are focused on helping them settle back in and getting ready for Christmas.
Having said that, towards the end of the autumn, it becomes harder to sell and property viewings can feel disruptive if you’re entertaining. Savvy buyers may also try to snag a deal if they understand the seasonal property market fluctuations so you might get a lower offer than at other times of the year.
Here at Cobb Farr, we find that winter is one of the most difficult seasons to sell your house because of the colder and darker days, worse weather and the fact that your home and garden are unlikely to be looking their best. Many people prefer to stay inside, focus on preparing for Christmas and, instead of viewing potential properties, wait until the weather improves.
Nonetheless, the New Year can bring new opportunities as people start thinking of the future and so we usually see an uptick in property listings and property viewings during the early months of the year. If you can get ahead and list your property before this time, you could give yourself an advantage and be more likely to sell faster.
Once you’ve decided to put your home on the market, we advise you to list your property with our estate agents as soon as possible. If there isn’t a rush and you could wait, this can help you find the right buyer for your home and get the best price.
If you’d prefer to be more strategic, determine who your property is most likely to appeal to and consider focusing your efforts during this time of year.
First-time buyers or young couples are likely to be more motivated, especially after the festive season has ended and won’t be affected by the school calendar or holidays. Families are more likely to wait until the time is right for their children and prioritise properties close to their chosen schools.
Either way, remember that people are buying and selling properties whatever time of year it might be so don’t panic if you can’t afford to wait for property demand to be at its highest and the supply to be lowest as we see during the spring.
When you’re in the trustworthy, experienced hands of Cobb Farr, it’s always a good time to sell.