Be flexible in February if you want to sell your home...
There’s good news for anyone who has been holding off putting their home on the market while they wait for the general situation to settle.
New analysis from property portal Rightmove has revealed February is the best month to list a property, with homes listed in this month of the year typically having the best chance of finding a buyer and finding a buyer more quickly.
The analysis looked at millions of properties listed for sale since 2012 and the trends linked to the month of listing, excluding 2020 due to the pandemic.
On average, homes listed in February have taken 51 days to find a buyer – just ahead of March’s 52 days, and level with January.
In addition, an average of 66.4 per cent of homes listed in February have gone on to find a buyer – the best chance of finding a buyer alongside April – just pipping second-placed March’s 66.3 per cent.
February listings are also the most likely to go on and finalise a completion of sale, and the least likely to be withdrawn by the owner from the market.
With March also coming very high on the rankings, the data highlights that those getting ready to sell at the start of spring are also putting themselves in a strong position to get moving in 2024.
In the year so far, the number of buyers contacting agents about homes for sale is eight per cent higher than last year, while the number of new properties being listed by sellers is 11 per cent higher.
Tim Bannister, Rightmove’s property expert said: “The best time to get moving is the time that’s right for you – we can’t always plan or predict when a life move is needed.
“However, for those who are able to be a bit more flexible about when they decide to sell, the data shows typically the start of the year has been particularly strong.
“It’s also when we’ve historically seen the most buyers sending enquiries to agents, so it’s a great time for those looking to sell to make sure they are listed, their marketing is strong and they are pricing attractively enough against other sellers.”