Given the demand for property in the housing market, there is no bad time to list your house for sale. However, from what we have seen, and what has been said by many specialists in the housing market, we believe March is the ideal time to list your home for sale.
Leading property portal suggests market will be busy in spring
A new study undertaken by Rightmove, which examines property moving data over the last five years (albeit excluding 2020) provides a number of interesting findings:
- March is the month of the year when most buyers enquire about property
- Around 75% of properties listed for sale are being bought, which compares well with the historical figure of 50%
- On average, homes are currently finding a buyer in 39 days
- Historically, homes find a buyer, on average, in 59 days
- Historically, the number of new properties coming to the market is strongest in March
- Even with this, March remains the strongest month to sell because of the high level of buyer demand
- April and May are also strong months for sellers in the property market
What does the expert say?
Tim Bannister, Rightmove’s Director of Property Data, was quoted by Property Reporter as saying; “Spring has long been known as a peak point in the housing market calendar, with many buyers and sellers trying to get into a new home for the summer months. However, this interesting study confirms that for those considering selling this year, March has historically been the best time to come to market on average. For any sellers who might be conscious of coming to market at a time when the number of new listings has traditionally been high, the data shows us that the level of demand in March means sellers are likely to meet with multiple potential buyers competing for their home.”
Tim Bannister concluded by saying; “This spring is certainly shaping up to be a busy one, with buyer demand, new listings coming to market for sale, and valuation requests to estate agents from future sellers all continuing to increase compared to last year. Gardens are likely to be high on the list of priorities for home-movers, as outdoor space continues to be a strong consideration factor when deciding on a next home.”
Study into property completion dates
June was highlighted as the busiest month of the year. Over the past five years, an average of 68,546 property deals are completed in June. This correlates with the property transactions agreed at the start of the year, which we know is a busy time of year.
March was recognised as the second busiest month of the year in the property market. Based on figures over the last five years, an average of 63,547 property transactions were completed in March. This is likely to correlate with property deals agreed before the holiday season making it over the line.
However, if you aren’t ready to move quickly, don’t panic. The study indicates the average number of property deals which are completed each month remains above 50,000 all the way through to December.
Contact Williams of Petersfield for all your 2022 housing market needs
At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.