How can you target the best time to sell? Carey Gilliland @Madison_Oakley
Once we’ve dealt with value and costs, the next most popular question we get from owners is “when is the best time to sell” so I thought it might be useful to share some of the following figures from Rightmove. Can you target specific times of the year for selling and, if so, why?
If you analyse the pattern of customer views on Rightmove (graphs for 2017 and much of 2018 available on our blog) it seems pretty clear that there are several spikes in buyer activity on Rightmove – March, May, July and October. Assuming traffic on Rightmove is a decent general guide for when buyers are active, should you be looking to target these peak months when you’re selling?
However, we mustn’t just look at the demand end of the scale without taking into account supply as well. Its all well and good if there are plenty of buyers around but what about if you’ve got loads of competition too?
Rightmove also publishes data on the general flow of supply (properties coming onto the market) per agent. What we need to look for here is the low points of the trends – when you’re likely to have the least number of competing sellers in the market. January to March is again a target point but supply then rises across the summer until an autumn fall to a low point around Christmas (no surprise there!).
How long does it take to sell?
Do you need to allow a bit of time in your target calculations?
Analysing “average time to sell” stats shows offer activity speeds up as the New Year starts and then can slow down from early summer for the remainder of the year.
Smashing this all together would suggest a target of sellers starting to market their property from late January into Feb for the following reasons;
1. Competition is at its lowest point of the year
2. Buyer activity is steadily rising towards a March peak
3. Time to sell is rapidly decreasing (buyers are buying)
It may still be cold and dark plus the gardens look far from their best but don’t let this put you off. If you’re wanting to move in the New Year, the stats show you should start early!