When to put a property on the market?

Parm

Hi all,

Just been having a browse through the forums, and there's a wealth of house-selling information at hand! Couldn't find an up-to-date answer to the question that's on my mind, though, so here it is:

When's a good time to put a property on the market?

I realise that in terms of the economy, now isn't a great time however you look at it. But I'm thinking more in terms of season. From what I've read, the spring or summer is generally accepted as the best time to sell. But is the Christmas period a really bad idea?

My fianc!e and I currently live in an apartment, but we're hoping to build our next house in the near future. Once the apartment is sold, it'll help fund our project and we'll be able to temporarily move in with my in-laws so we can vacate whenever needed.

I've had a few valuations done (and they vary by around 50k), but I'm realistic and I've got a figure in my mind that I'm willing to accept.

The apartment itself is a duplex and it's finished to a very high standard (I'm biassed of course, but I'll miss it when it's gone!). I think it'll attract a certain audience, and whilst selling a house seems to be best in the spring or summer so families can get in before school, I'm not sure those factors completely apply to an apartment.

Long story short: put the place on the market now, or wait until after Christmas?

Never sold a property before, so any advice would be welcome.

AndersLimpar_2

There is always a winter/xmas slowdown, however, in this climate i'd be tempted to get it on the market as not many quick sales are happening at the moment. If your in no rush then put it up at the average of 3 EA's values (maybe even the highest) and leave it at that until next summer, dont start dropping in Jan or Feb...all depends how quickly you want a sale.

Pinklepurr

I put my house on the market last January. I think we marketed it right at the beginning of January as we thought as soon as Christmas was out the way, that buyers would be out and about looking. New Year.....new start! Well, we got a few viewers, no one serious though and eventually took it off the market. Glad we did now as the economic situation is so dire! If we were ever to try again, we would wait until Spring when we could take photos in good light and the garden would look nice etc.

Jowo_2

An estate agent told me back in the summer that the property market typically falls off a cliff in December and that they sit around in their office with the phone barely ringing. A recent post on this forum from a member suggested that the December lull had started early this year and November has been quieter than usual.

FinAdv

Hi,

Well, you are absolutely right that there are alot of factors that affect buying of the house.

It may be true that people dont buy as much around christmas as compared to spring or summer as a lot of people go for holiday or is too cold or they want to spend the christmas with a family in a stable house rather than moving around christmas.

But another very important thing to remember is that selling of a flat can be quite difficult sometimes. It depends on the area where you live in. Just as an example, my friend has a very well maintained large luxury flat in south london but hes struggling to sell it since last 6-7 months. Because, in that area you can get a house for the same price so people prefer house over the flat. So, it really depends.

Moreover, if you already have a price in mind that you will be read to accept and also have arrangements to live with your in laws, there is no harm in putting the house for sale. You never know and also you are not incurring any costs by putting it up for sale so why not!

PasturesNew

Round My Way ..... immediately after Xmas is a busy period for viewing/selling. Lots of business owners who want to sell/move and have it over and done with before the tourist season starts at easter.

sonastin

Received wisdom dictates that people start looking for houses in the spring time so that is the time to sell. But not all buyers follow the herd and some have been looking since spring without having found anywhere so the person who is going to buy yours might just be waiting for you to put it up for sale now.

If you go on the market now and it doesn't selll, you will still be on the market come spring. And it is unlikely that you'll have been on the market the longest at that point given how things are going. But if you go on the market in spring and your perfect buyer was one of those who decided to use the downtime over christmas to go flat-hunting, they might have snapped something else up in the new year, before you even put yours up for sale.

dave_on_the_save

Our property went on the market 6 weeks ago, I asked the EA if it would have been better waiting until after XMAS, he said at the minute it is a lottery and the dips they have seen historically no longer really happen.

It had an offer accepted after less than 4 weeks, so my advice would be put it on the market you never know when it will sell. I for one want to see more proprties on the market at this time (cos I have not find one to live in yet!!)

nell53

Many moons ago I used to be employed as a Saturday girl by an estate agent to do viewings. The boss refused to let us put any Christmas decorations up as he didn't want to remind people that it was Christmas.

tyllwyd

I'd think families probably are too busy over Christmas to think much about moving house. But if you are selling to a younger couple, you never know, they might have some time off over Christmas and get bored sitting around at home so they end up looking at Rightmove. Depend how you look at it - maybe there won't be so many flats on the market over Christmas, so yours will stand out more, but maybe you think it would be good to try to catch people's attention by coming on to the market in the New Year looking all fresh and new. Who knows!

LilacPixie

We had pictures taken in May, it sold in October. viewings quiet in July/August then picked up in September. TBH I wish i had been more organised and had on market in March rather than 1st week in June by the time all the schedules/reports done.