Level of home-moving activity increases

Spring is on the way and is the perfect time to sell your home

The days are getting longer, which means that spring is on the way and is the perfect time to sell your home. Since there are fewer buyers in winter and more competition in summer, selling your home during the spring months can potentially secure you a better price. As we start seeing the traditional increase in property activity occurring around this time of year, spring is officially the best time to get your property on the market and start selling, according to new data[1]. March is the strongest month of the year for prospective sellers to come to market.

Finding your new home. The study, which compared home-moving data over the last five years, excluding 2020 to account for the closed market periods, showed March was the month when the highest number of buyers enquired about each property available on average. Selling your home during the spring months also means that you can take your time finding your new home and avoid being rushed into a decision.

Competition between buyers. April is the next strongest month to sell, based on competition between buyers for each available property, followed by May. As this year’s spring surge gathers momentum, the level of home-moving activity has continued to increase since the start of the year. With warmer weather hopefully on its way, buyer searches for gardens jumped 70% in January compared to January two years ago, as more people look for outdoor space heading into spring.

Best time of year to sell. The spring months always come out on top as the best time of year to sell your home. This is probably because people aren’t away for the summer holidays or busy with Christmas celebrations. Another good thing about spring is that your home will look better when the garden is coming into bloom and the sun is hopefully out for longer.

Homes are finding buyers. Currently, the data highlights approximately three quarters of all properties are successfully finding a buyer, compared to a historical average of around half, and homes are finding buyers in an average of 39 days, compared to an average of 59 days over the last five years. The number of new listings coming to market was also historically at its highest in March, though the high levels of buyer demand seen in the month means March was still the strongest month to sell.

Don’t forget, our professional friendly advisers are on hand to support you and can help you explore all of your options.

Source data: [1] https://hub.rightmove.co.uk/marchrevealed-as-the-strongest-month-to-sell-asspring-surge-gathers-momentum/