With Christmas 2021 just around the corner and many people desperate to be in a new home before the festive period starts, industry research has discovered that the best time of year to sell your home depends on many different factors, not just market demand.
If speed is important to you, 2019 data show that August, November, and October had the highest number of completed transactions. This would suggest that demand from buyers is highest during these months, so the likelihood of a quick sale will never be better.
If price is your main concern, August, September, and December saw the highest average price for house sales last year.
The only month to appear in both lists is August, so this summer month is, in this respect, the homeselling sweet spot.
Rules differ from property to property
The trends highlighted by GetAgent provide an interesting insight into when the average home has the best chance of selling for a good price, but when searching for the best time of year to sell your home, a lot depends on what type of home it is.
Director of Benham and Reeves, Marc von Grundherr, suggests that ‘seasonal selling advantages can be very much about the property itself.’
‘For example’, he says, ‘a cosy one-bedroom flat may present itself best during the autumn and winter. However, for those with great outdoor space then summer is the time to sell.’
This feature-based seasonal selling theory is more relevant than ever today with the ongoing pandemic and subsequent lockdowns leaving people desperate for outdoor space. If your home has a generous garden, then this might be the best time ever to sell your home. Demand is high.
Get in before the New Year
Summer may be a great time to sell your home – long evenings, for example, provide more daylight hours for you to showcase your home to viewers – but given the changes that have been enforced upon us all, we’re currently seeing a festive rush on the property market.
This is largely driven by the stamp duty holiday deadline approaching in March, and if you want to take advantage of the tax discount, you’re best getting the ball rolling before the new year instead of afterwards.
Founder and CEO of GetAgent.co.uk, Colby Short, speaking to Metro.co.uk, suggests that, even though starting right now does not guarantee you’ll reach completion before the end of the year, mid-December can be a great time to sell.
‘…not completing this December isn’t the end of the world and even if you are yet to list, now is a great time to do so. It enables you to get the laborious admin of property listings, photos and floorplans out of the way and have your home listed for sale for the famous Boxing Day bounce and the huge advertising footfall this brings each year.’
Good advice but there’s no right and wrong
The insights we gain from sales data is useful but not gospel. So much depends on your particular priorities and the particular ways your home appeals to sellers. Covid-19 has thrown all the usual rules out of the window and created an unusually busy festive season.
Our best advice is, if you’re thinking about selling, there is absolutely no reason to get your home on the market today, let the Christmas break deliver plenty of interest, and then start your new year in a brand new home.
If you’ve got any questions about selling your home, or want advice on when the best time to do so might be, our property expert, Russell Quirk, is happy to help. Drop us a message in the comments section below.