24th April 2024

When is the best time of year to sell a house?

The property market is subject to constant changes and fluctuations, which can make it difficult to pinpoint the best time to sell or buy property. Like other investments, it can be beneficial to try and judge the market and identify the times when buyers are more likely to purchase, as with more demand can often come a higher sale price. However, with such volatility, this is often easier said than done. Fortunately, there tend to be seasonal trends that the market follows, and by identifying these trends you can have a better idea of when the best time of year to sell may be.

If you have a property to sell and you’re looking for tips on working out the best time to do so, read on as we discuss how to sell quickly and for the best price possible, including the best time of year to sell, and current market conditions.

The 2024 property market: is it a good time to sell a house?

If you need to sell your house fairly quickly due to relocating or remortgaging, don’t let the speculation of what will happen in the housing market put you off. According to Rightmove, it has taken buyers an average of 71 days to find a house during the spring period, the longest

time since 2019. This is likely due to high mortgage rates and volatility within the market. So if you need a quick sale, it’s best not to delay in the hopes of attracting a higher price. Additionally, whilst nobody can say for certain what will happen in the future, the overall sentiment for selling your house now is looking positive and if your personal circumstances dictate it, then now is a good time to sell. 

However, if you need a quick sale and would like to complete confidently without the risk of external factors influencing the market, you may be better suited to selling by auction. Typically, auction houses attract a bigger and more diverse pool of buyers who can commit to buying a property regardless of the time of year. Additionally, the competitive nature of auctions means that interest can be driven more easily, with the potential for a higher sale price. 

Of course, there are also measures that you can take to make your home more attractive to potential buyers which can help to speed up the sales process despite the market conditions, if you have the extra cash to hand there are some home improvements you could make to drive up the value of your home and generate more interest. This includes everything from kitchen renovations to adding a conservatory or replacing old windows, each of which will act as a return on your investment as you’ll be able to increase the value of your property.

When is the best time of year to sell a house?

Historically, the best month of the year to sell a house is March as the number of buyers looking to purchase or make enquiries is higher at this time and as such, competition between buyers is typically at its peak which is a benefit for sellers looking to achieve a higher sale price. 

Additionally, many people like to move in time for summer to utilise outdoor spaces such as gardens and balconies and will often find themselves with extra cash flow during March in order to make purchases, as the winter months can be more costly.

Another influencing factor could be that it is easier for renovation works to be completed in the warmer months, as the weather can affect or delay any planned work, especially if the property requires external renovations. This is particularly true for auctions, as they attract lots of properties with scope for renovation, which in turn can generate increased interest from potential investors. 

By paying attention to these factors and selling your home at the right time, you’ll be able to capitalise on supply and demand and achieve a faster sale. According to The Advisory, it takes 57 days on average for a house to sell in March, compared with 79 days in October. Of course, this is accounting for estate agent sales, and it is worth noting that auction sales will usually happen at a much faster pace due to the pre-defined completion periods.

Selling your property by auction also means that you avoid seasonal delays altogether due to these predefined limited time windows. At SDL Property Auctions, the buyer must pay a deposit on the day, and complete the sale within 30 working days of the auction if the property is being sold under unconditional terms. These sales are also legally binding and attract a large number of investors and developers, which means that they aren’t usually affected by outside influences that cause the property market to fluctuate and you can sell your property confidently and quickly, no matter the time of year.

What are the worst times of year to sell a house?

The worst times of year to sell a house are during the winter months, and there could be a number of factors that influence this, such as reduced buyer interest and preoccupation with the festive period. This paired with difficult weather conditions to carry out renovations and less cash flow means that buyers may not be as actively searching to buy a property. In addition to this, outdoor spaces are harder to maintain and buyers with families may be less keen to move after the new school year has just started. The positive side of this is that buyers who are looking to purchase in winter are likely to be more serious about completing, resulting in a more secure sale for the seller.

When to sell according to property types

Following the laws of supply and demand, certain types of properties may sell better at different times of the year. This is largely due to the circumstances and priorities of the buyers who are looking to purchase. For example, despite winter being a slower period for sales overall, small one and two bed properties see a greater demand. This may be from first time buyers who often are less bound by the time of year to begin the search for their new home.

On the other hand, larger family homes are more likely to experience a greater demand outside of major school holidays in an attempt to move without much disruption for children before a new term starts.

In order to make the most of these increasing demands and increase interest in your property you might wish to consider what type of property you are selling and who your target buyer is. Once you’ve done this, you should be able to establish the most appropriate time to list your property for sale. 

As mentioned previously, if you choose to sell by auction, taking these steps won’t be as necessary. For example, at SDL Property Auctions, our diverse range of buyers consists of investors and developers alongside cash buyers who are willing to buy out of season in order to perform renovations on the property to resell during peak seasons or get the property ready for rental in time for the target audience looking to make the move. Therefore if you’re seeking a quick sale with a good price, selling by auction is likely to be the best route for you, removing the stresses of trying to predict market fluctuations and influences.

Achieve a quick and secure sale year-round with SDL Property Auctions

Selling your home can be a difficult decision and can sometimes be costly with long wait times and trying to achieve the best sale price. However, when selling by auction, the process can be made much smoother and without the stress of trying to make calculated predictions about the housing market in order to achieve the best price. With consistent high levels of competition between buyers and keen investors attending auction events throughout the year, there’s no need to pinpoint a time or target audience.

If you’re interested in learning more about selling your property by auction with SDL Property Auctions, you can get a no-obligation appraisal by clicking the button below. Alternatively, don’t hesitate to contact us with any queries and a member of our team will reach out to you shortly.