It’s not only the property market which determines when is the best time to sell, believe it or not, the time of year still plays a key part.
Traditionally spring has always been the best time, with summer among the worst with people choosing to spend their vacation time relaxing rather than going through a stressful house move.
Research undertaken by Zillow.com in 2016 found that homes listed between May 1st and May 15th sold around 18.5 days faster, on average than those listed at other times.
They also found that homes that sold in the first half of May were purchased for about 1% or $1,700, more than the average listing.
With the weather getting better, days are longer and everyone has more get up and go so now is the time people quite literally want to get up and go – somewhere else.
The better weather can also be a great selling point too with gardens in full bloom while homes are shown off to their bright and sunny best.
Spring is also the key time for parents to be searching for their new ‘forever’ home with the next school year in mind. They prefer to be moving into the catchment areas of their chosen school well in advance of the next academic year, even if it means a longer drive in the short term.
This year though we also have the added bonus of the lack of properties available, so supply is struggling to meet demand, meaning there’s no better time for putting your home on the market.
“The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully under contract,” said Jonathan Smoke, Chief Economist at realtor.com.
“That’s because the supply of homes for sale is at an all-time low, and yet demand is strong and getting stronger.”
“We started the year with the lowest inventory of homes available for sale that we’ve ever seen on realtor.com. While we did see inventory grow 2% in February, total inventory was down 11% over last year.”
So what are you waiting for? Complete your snag list and get in touch with us so we can take full advantage of the current climate and get you the best price possible.