Which month is the best time to sell a home?
Been wondering when the best month to sell a home is? We’ve analysed millions of properties that have been listed for sale since 2012 (excluding 2020 due to the pandemic) to see which months fare the best in terms of finding a buyer, and when homes sell most quickly.
And while all of the spring months are typically busy for the property market, it’s February that came out on top. It takes an average of 51 days to find a buyer in February, and it’s also the month when homes listed for sale are most likely to find a buyer — and make it through to completion.
It’s maybe no surprise that the second month of the year is one of the best periods to come to market. There’s lots of seller activity as we gear up for the busy spring selling season, while potential buyers who were busy during the Christmas period get ready to put their moving plans into action.
What’s happening in the housing market now?
The period after Christmas 2022, and into early 2023, was a relatively muted time for the property market. Mortgage rates were at historic highs in the wake of the mini-Budget, and there was lots of uncertainty around how this might affect the property market, and house prices, which led to lots of buyers and sellers pausing their plans.
But this year, we’re seeing encouraging signs, as home-movers who chose to stay put and see what played out in 2023 are now coming to market. The number of buyers contacting agents about homes for sale is 8% higher than last year, while the number of new properties being listed by sellers is 11% higher.
Our property expert, Tim Bannister, says: “The best time to get moving is the time that’s right for you – we can’t always plan or predict when a life move is needed. However, for those who are able to be a bit more flexible about when they decide to sell, the data shows typically the start of the year has been particularly strong.”
As well as there being more activity in the housing market at this time of year, February is when we see the most requests to view properties from home-hunters, on average.
Tim adds: “It’s when we’ve historically seen the most buyers sending enquiries to agents, so it’s a great time for those looking to sell to make sure they are listed, their marketing is strong, and they’re pricing attractively enough against other sellers.”
What if you’re thinking of selling your home soon?
If you’re considering a move in 2024 and want to know the current estimated value of your home, you can use our instant valuation tool to get an online estimate of what your current home may be worth so you can get an early indication of what your budget might be when you’re looking to buy.
You‘ll be able to see if your home’s value has changed, and how much properties nearby have recently sold for. And every month, the estimate is refreshed, which you can see by setting up alerts or viewing your tracked properties within your MyRightmove account.
You can then get a full expert valuation of your home from an estate agent when the time comes to sell.
Our step-by-step guide to selling a home takes you through the process, breaking things down into 12 manageable steps. You can also check our tips for getting your home ready for viewings.
The header image for this article was provided courtesy of Lakes Estates, Penrith.
