There was once a simple answer to the question, ‘when is the best time of year to sell a house?’ Conventional wisdom always had it that spring is the best time to sell your Watford home; a time of year full of possibility, with gardens in bloom, light evenings for viewings and plenty of buyers ready to part with their cash.
Then came 2020. March, normally a key date in the house-selling calendar, saw estate agents closed and limits on all but essential property transactions.
Conversely, August 2020, usually considered a bit of a doldrums where house sales are concerned, brought the start of a mini-boom, thanks to the stamp duty holiday and a release of pent-up demand.
The lesson from this? Do consider the seasons if deciding when to list a property for sale, but take note of other factors too. Aside from global pandemics, changes to stamp duty, mortgage rates and interest rates, as well as political factors like Brexit or a general election, can all have an impact on whether now is a good time to sell.
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Read on for some questions we are often asked about the best, and worst, times to sell a house.
When do homes sell quickly?
By best time to sell a house we really mean – quickest. No one wants a home hanging around the market for too long, and a quick sale is also likely to result in a better price. As we’ve said, in normal market conditions, homes tend to sell best in the spring – which means between February and June, but this will really depend on the type of property you are selling.
Should I put my house on the market right now?
Your estate agent will probably tell you that, yes, you should – and the stamp duty holiday means property is selling well right now. However, you need to decide if now is the right time for you. If you’re moving jobs, trying to secure a school place or working to some other immovable deadline, then it probably is the right time. But if you’re more flexible, give it some thought.
Which is the best month to sell a home?
According to data from Rightmove, quoted on The Advisory website, March is the best time to sell your home – because it’s the month when houses sell fastest. It’s often said that April and May are good too, however, it’s best to avoid Easter and the May bank holidays.
Which is the worst month to sell a home?
In the same Rightmove study, November came out worst for sales. It’s generally thought that people aren’t interested in viewing and buying houses in the run-up to Christmas. If they aren’t going to be in their new home by the festive season, they probably won’t bother, ruling out the second half of October up until Boxing Day.
August is generally considered a difficult month too – in normal circumstances – with many people away on holiday. In fact, any school holiday period can be tricky for selling family homes, with people distracted by looking after little ones.
All of that said, if you need to move for practical reasons, there will be buyers out there at these times – but you may wait longer to find one.
What about real estate market conditions – supply and demand?
Whatever you’re selling, the desirability of your product comes down to supply and demand. It’s just the same with houses – if there are lots of homes like yours on the market and few buyers you might struggle to sell or achieve the best price. So, while generalisations about when is the best time to sell your home are useful, it’s worth understanding supply and demand in your local area. You can check this for yourself by interrogating the property portals such as Rightmove or Zoopla – look for homes like yours in Watford and work out how much competition you are likely to have for buyers. Check how long these homes have been on the market too.
Do different types of home sell better at different times?
Yes, probably. As we’ve said, family homes sell better outside of school holidays.
If you’re selling a flat targeted at single, first-time buyers or couples, January is actually a good time – when people without commitments are looking for a new start. September can be ideal for this market too – catching people who are just back from their holidays and looking for change.
For retirement homes or bungalows, older people tend to prefer house-hunting and moves in the warmer months, so avoid autumn, winter and early spring.
Is there a best day to sell?
Surprisingly, there may be. Consumer organisation Which? says that properties listed on a Monday sell quickest, while for Rightmove, Tuesday at 9pm is the peak time for people searching for a home.
More practically, avoid coming to the market right before major sporting or events or elections.
Are there any other things to think about?
Look carefully at regional factors, how the market is performing right now in your area. Be conscious of your neighbourhood too – find out about any pending planning applications that could make buyers wary and consider waiting until there is a decision or the project is complete.
Whatever time of year you choose to sell, don’t underestimate the factors which you can control – how you price your property, how well you stage it for sale and the local knowledge and experience of the estate agent you choose.
If you’re still not sure and would like to discuss the local picture with us, please get in touch today to find out more about our offer for sellers.
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David Clayton
Claytons blog was created to give light hearted but hopefully useful property related thoughts and advice.
David started his career at former family firm, Weller Hill Hubble aged 17. The company was later purchased by General Accident property services and David went on to become their youngest ever manager and Area Director. However, disenchanted with corporate life he decided to return to his old roots and start a personal, service driven Estate agency. In 1991 Claytons was born and has grown into one of Watfords most well known and successful businesses. Outside of work David , who still lives locally is married with 3 children and a cockapoo called Teddy.
