Fri 24 Mar 2017
Many people don’t tend to give much consideration to when is the best time to sell their property, and just instruct an estate agent to market immediately. However, by doing some research and putting your property on the market at the right time of the year it can really maximise the final price you achieve, as overall demand from buyers will vary. You need early interest from keen buyers who are motivated to move, and that takes a little planning.
It’s important for homeowners to understand that certain times of the year are better for selling particular properties than others. The key is, when going to market yourself, to know your likely buyers and take into account their patterns for moving. A good estate agent (like us!) should be able to guide you on this.
Different types of buyers like to move at different times of the year, and the last thing you want is to have a property sitting on the market for months on end, going stale. So the better you can plan your property sale, the more likelihood it will sell quickly and attract the attention of buyers who are willing to pay the best price for it!
Here’s a brief overview of who tends to move, and when:
Detached / Semi-detached homes: Families – Autumn, Spring and early Summer
Family buyers are renowned for looking at property at three distinct times of the year: autumn, spring and early summer. Why? School term-times. Buyers with children prefer not to house hunt during school holidays. Many go away, and many simply find it more hassle viewing a home with young children in tow. You’ll also find most families prefer to sell during these times of the year, again it is more straightforward to do so with the kids out at school.
Bungalows and retirement properties: Downsizers (Older couples and singles) – Late Spring and Summer
Downsizers tend to look at homes during the warmer months, often resulting in bungalows and retirement properties sitting on the market over the winter months, with little activity. Undertaking viewings, as well as packing up and moving home in winter is not something elderly buyers relish.
For the downsizers the perfect time to move is in now (early spring) into the Summer, as this type of buyer tends to look at fewer properties, and make their minds up more quickly.
Flats, apartments and small terraced houses: Singles and Young Couples – January/February/March
We often see first time buyers begin their property search early in the year. These buyers tend to look at property at the lower end of the market often including apartments and small terraced houses, due to budget restraints.
Their search often starts in January and February but can go on for some months as they search for the ‘right’ kind of home - often with many properties viewed along the way! Sellers of apartments and small houses should be patient with buyers and expect that many will view their property more than once and with other family members, before making an offer.
If you would like some help planning the sale of your home, please give us a call and speak to one of our local property experts. Across the year, Spring tends to be one of the busiest times for activity in the market as a whole – so drop us a line on 01480 218200 or email email@example.com
Alternatively, if you would like a quick free online valuation of your property, click here for an instant figure!
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