When Is the Best Time to Sell Your House?
For many people, buying a house will be the biggest financial investment they ever make. When it comes time to sell your home, it’s natural to want to get as much as you can from it, funds that can then go towards your next house, retirement, or any number of life-changing projects.
In this article, we speak to the team at Hull Cash Buyers and take a look at some data compiled by industry experts, to see what the best – and worst – times of year are to try to sell your house.
When’s the best time to sell your home?
In general, spring (roughly February to June) is considered the best time to sell a house, especially if a speedy sale is one of your priorities. If that’s not possible, the second-best time is widely considered to be autumn (roughly September to October).
Holiday seasons tend to be the worst time to list your home; the summer months – July and August – are normally quite slow, as most people are on holiday (especially those with families). The Christmas period and the lead up are also very slow, with November and December generally considered the worst times of year to attempt a sale.
Is the time of year all that matters?
Unfortunately, it’s not quite as simple as just picking the right time of year. A wide variety of other economic and political factors come into play, especially in relatively tumultuous times such as those we’ve seen of late. Political events like Brexit and elections can have an impact, in addition to fluctuations in currency value and other similar factors. Changes in tax rates and stamp duty also have significant impacts on the market, as we saw in the stamp duty holiday during the pandemic.
Date for the quickest sale
An analysis of data from Rightmove carried out by The Advisory found that listing your house in March will result in the quickest sale. At just 57 days from listing to sale, if you’re looking to sell your house quickly – and likely for a higher price – early spring appears to be the time of year to go for.
Date for the slowest sale
That same data analysis found that between October and November is the worst time to list your house if you’re looking for a quick sale. With an average sale time of 79 days, not only does that delay mean you have to wait longer, it also likely leads to getting a worse price for your home.
Other factors
There are a number of other factors at play when it comes to selling your house; for example, smaller homes tend to sell better at the beginning of the year, as younger professionals look to get a head start to the year. Supply and demand also play a significant role, which will vary depending on the area. To get the best advice possible on one of the biggest financial decisions of your life, it’s advisable to seek the help of an estate agent, who will be able to advise on your specific situation.
