Despite the general hustle in the spring months within the property market, February emerges as the top-performing month. With an average of 51 days to secure a buyer, it not only boasts efficiency but also sees the highest likelihood of listed homes reaching completion.
The second month of the year proves to be strategically advantageous for entering the market. A surge in seller activity precedes the bustling spring selling season, aligning with potential buyers who, having navigated the Christmas period, are now prepared to execute their relocation plans.
Transitioning to the current housing market landscape, the post-Christmas period in 2022 and early 2023 witnessed a subdued property market, marked by historic highs in mortgage rates post the mini-Budget. The resulting uncertainty prompted many buyers and sellers to momentarily halt their plans. However, a positive shift is clear this year, as individuals who opted to wait and observe in 2023 are now actively entering the market. Buyer engagement with agents has surged by 8%, while sellers have listed 11% more properties.
Ultimately, the optimal time to move is when it aligns with individual needs, acknowledging that life changes are not always predictable. Yet, for those with flexibility in their selling timeline, historical data indicates the beginning of the year as notably robust.
In addition to heightened market activity during this period, February stands out as the month with the highest volume of property viewings requested by potential buyers.
If you’re contemplating selling your home soon, these insights may guide your decision-making process, and our local branches are ready to assist with realistic pricing, strong marketing, and an active database of buyers.
If you’re a homeowner looking to sell, please contact your nearest branch. If you’re searching for a home, feel free to take a look at properties on our website, here.
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