Is January the Best Time to Put Your House on the Market?
by Bishop's Move, 04 December 2017
The dream of everyone selling their home is to achieve a quick, painless sale for the ideal price. However, anyone who has ever sold a house before will know that ticking all of these boxes is sometimes quite unlikely. However, putting your house on the market at the right time can certainly help your cause. The aim is to make sure that your home is visible to serious buyers during the timeframe they are most likely to make an offer.
In recent years, online property portals have been flooded with millions of visitors above average in January. There are a number of reasons for this, including the housing market beginning to move away from the typical seasonal trends, as well as individuals making big decisions in January after the holidays and plan for their New Year’s resolutions.
While most people aren’t making offers on homes just after the festive season, many are beginning their house hunt. Traditionally, spring has the reputation for being the best season for selling homes, with February through June being the best period. After the January blues fade away, many buyers start looking for a new home, with sales typically peaking in March. Having your house on the market in time for this could guarantee a quick sale and a good price.
What is it about Spring that encourages an active market? Well, during the spring your home looks at its best thanks to longer, sunnier days, and colourful plants in bloom. In addition, people are not busy with preparing for Christmas and aren’t away for the summer holidays just yet. A lot of families also look to buy a house in late spring/early summer to align with the end of the school year so as not to disrupt their child’s education. These factors play a huge role in affecting potential buyers’ decisions to begin looking seriously for a new home.
The area in which you live can also play a big part in deciding when people are looking to buy a new home. A good tip is to speak to estate agents in your local area to ask about the current market in order to help you judge whether you should put your home on the market. Take the time to do your own research as well, by checking online to see when houses in your area have sold in the past.
Another thing to consider is that most people know that spring is the best time to sell a home, meaning that most may not put their houses on the market until after January. This means that for those individuals who are looking to buy in January, there are fewer houses on the market to choose from, which will help your house to stand out. Choosing to put your house on the market at this time could work in your favour and also give you a bargaining chip to ask for a slightly higher price due to lack of supply.
So, while getting your house on the market in January won’t necessarily guarantee a January sale, it can certainly be helpful to begin marketing it at this time so that the listing is visible when people start looking. If the Rightmove trend continues this year, and listing sites are flooded with views in January, having your house on the market at this time could prove very beneficial, as it will be seen by an extremely high number of potential buyers. Remember, sales may go through in the spring, but that means the viewings and offers occur at the beginning of the year.