The best time to sell your house is when there are many buyers serious about finding a new home and relatively few competing sellers. If you have the luxury of choosing when to sell, there are many factors you should consider when deciding when to list your property.
Is there an optimum month to sell a house?
The time of year can have a significant impact on whether your house will sell fast. There are typically peaks and troughs throughout the year. Being aware of these can help you achieve the best price in the shortest time.
Selling in spring
Spring is traditionally viewed as the best time to sell a property because people aren’t on holiday or busy with Christmas celebrations and have time to think about house hunting. Families looking to move to the area with school-aged children may start their property search in spring, aiming to tie their move in with the school summer holidays.
Another advantage of selling in spring is that your garden will look better as it comes into bloom. Sunny weather and lighter evenings will help show your property at its best.
Selling in summer
The summer months, particularly August, are slower as many potential buyers are away on holiday. This is particularly true if you are selling to families as their holidays are limited to the school calendar, and parents are busy keeping the kids entertained during the school break.
Selling in autumn
Early autumn can be an excellent time to market your home. Your potential buyers are back from holidays, and the warm weather means your home and garden are still looking attractive. Don’t hang around, as the market tends to slow right down from late October.
Selling in winter
The run-up to Christmas is a quiet time in the property market as people are focused on Christmas plans rather than house hunting. In our experience, the market typically goes into hibernation during the final two or three weeks of the year.
Things pick up in the New Year as many people see this as a time for a fresh start. Online portals often report large numbers of visitors immediately after Christmas. However, these potential buyers are often at the beginning of their search, and it may be several months before they are ready to commit to a purchase.
What else should I consider?
There is no single best time of the year to sell a property in Wimbledon because of many factors to consider. Since the advent of online marketing and a more globalised economy, traditional times to buy property are no longer clearly defined.
Research any major works planned in your local area. Long-term construction work taking place nearby can turn potential buyers off – particularly if it impacts road traffic or transport routes. On the other hand, plans for new rail links, such as Crossrail, can bring potential buyers to the area and boost property prices.
You are more likely to sell your home quickly and for the best possible price if there are lots of buyers looking for a property like yours. As different types of property attract distinct groups of people, you will need to consider when your target buyers will be most prevalent.
Larger homes attract families with children. If you can, avoid coming to market during school holidays when parents are likely to be busy with child care.
If you are selling a one- or two-bedroom property, your target buyers are likely to be young singles or couples. Target January and February to capitalise on New Year’s resolutions or late summer when potential buyers will be keen to get into their new home before Christmas.
Older buyers who are perhaps downsizing are most prevalent during the summer months.
Confidence is the lifeblood of the property market, and political events can cause short-term uncertainty among buyers.
Most recently, the Covid-19 global pandemic resulted in a complete shutdown of the property market during the first lockdown in March 2020. A massive spike in house sales followed when the government introduced a stamp duty holiday between July 2020 and June 2021, which reduced the tax people buying homes must pay by up to £15,000.
What if I am not ready to sell?
If you are not ready, don’t list your property – even if the market seems to be hot now.
Rushing to list your property without preparing it could mean your home looks less attractive than other similar properties. Take some time to make your property look its absolute best.
If you do get a buyer, you must be ready to move quickly. Your buyer may pull out if you cause delays to the process of exchanging and completing.
Homes that stay on the market for too long lose their ‘fresh appeal’, and buyers can be put off because they perceive that your home hasn’t sold because there is something wrong with it.
What if I have to sell now?
For many people, personal circumstances mean they cannot wait and are forced to sell in a so-called ‘quiet’ period. If this is you, don’t panic. Buyers are looking for property in Wimbledon Village 365 days a year. We suggest that you:
1) Choose your estate agent carefully. A local agent will do a better job than an online estate agent at actively marketing your property. Robert Holmes & Co sell houses at all times of the year. Read our blog article on how to choose an estate agent.
2) Spend a little extra time making your home look its best. Here are 10 ways to boost your home’s kerb appeal.
3) Be realistic on price. If there is less demand, you may need to be prepared to accept a lower offer.
If you are considering selling your property in Wimbledon Village or the surrounding areas of Coombe Hill, Kingston Hill, Putney and Southfields, contact Robert Holmes & Co today for an up to date assessment of its market value. You could be surprised how much it is worth.