Thinking of selling but not sure if now is the right time?
The market is changing. Recent Rightmove analysis has revealed that March is the strongest month of the year to sell a home, having the highest number of buyer enquiries per property on average over the last five years.
While new listings are also highest in March, strong demand from buyers in the month means March sees the highest competition. With this increasing competition home owners are being urged to put their properties on the market now, so they don't miss out on securing their dream home.
Here are some facts on the current market:
- New listings are up 11% compared to the same period last year
- Buyer demand is up 32% compared to the same time last year
- Home-valuation requests to estate agents are up 27% since the start of the year compared to the start of last year
- Searches for gardens have jumped 70% in two years, as more people continue to look for outdoor space
This data has been collated from a recent study, which compared Rightmove home-moving data over the last five years, excluding 2020 to account for the closed market periods. It proved March to be the month when the highest number of buyers enquire about each property available on average.
With competition at its strongest many would-be sellers have a good chance of selling their home in the spring time. Those thinking of selling are also likely to be aiming to buy a new property, and may be tempted to begin the search for their new home before listing their current one on the market. Due to the speed and competitiveness of the market, agents are reporting that it continues to be of high importance for those actively looking to become ‘power buyers’, to give themselves the best chance of securing their dream home.
April is the next strongest month to sell, based on competition between buyers for each available property, followed by May.
If you want to take advantage and finally make that move, contact us today to arrange your free property valuation.