While the start of a new year can spark life changes for many of us, we tend to spend the winter months staying cosy indoors.
So it’s no surprise that our latest research shows that March is the month home-movers spring into action, and best time of the year to put your property on the market.
April is the next strongest month to sell, based on competition between buyers for each available property, followed by May.
Why? Well, for starters, lots of buyers and sellers are motivated to get into a new home for the summer months, with many home-movers putting gardens and outdoor space at the top of their wish-lists.
Also, for the past five years (excluding 2020), March is when we have seen the most buyers enquiring about properties for sale. This in turn creates competition between buyers, giving sellers the best chance of sealing the deal.
The number of new listings coming to market is also typically highest in March, but because buyer demand is usually so high, it’s still the strongest month to sell.
“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 met with multiple potential buyers competing for their home,” says our head of property data Tim Bannister.
How to be in the best position to buy when you find ‘the one’
This spring is already shaping up to be a busy one. We’re continuing to see an increase in already high levels of buyer demand, as well as the number of new sales listings coming to market. Meanwhile, the number of requests to estate agents from future sellers to value their homes is up 27% since the start of the year, compared with last January.
If you’re thinking of selling, you’re probably looking to buy a new property, too. Due to the speed and competitiveness of the market, estate agents are reporting that if you’re actively looking for your next home, it continues to be of high importance to become a ‘power-buyer’.
This means making sure you have your current property on the market, or preferably sold subject to contract, to give yourself the best chance of securing your dream home.