When Is The Best Time To Sell A House In 2023?
Whether you’re looking to downsize, relocate or move in with a significant other, working out the right time to put your house on the market can seem like an impossible task. We explore the best time to sell a house in 2023, what to consider, and how to make your property more attractive to buyers.
What will the property market look like in 2023?
After a turbulent couple of years and the unpredictable impact the pandemic had on the property market between 2020-2021, we can finally expect to see a gradual return to normality in 2023, with the final wave of lockdown savers likely to buy early in the new year.
However, there will potentially be a shake-up in buyer behaviour. For instance, homeowners now typically require spare rooms to accommodate hybrid- and home-working, and the property market in 2023 will see more buy-to-let purchases targeting young renters moving away from their family homes without funds for their own mortgage.
When is the best time of the year to sell a house?
Find out how to approach the housing market in 2023, and which seasons offer the best chance of a successful sale.
Spring is generally regarded as the best time to sell a house, due to the warmer weather, blooming gardens and longer, lighter days. The housing market in 2023 is expected to experience an influx of new buyers between April and June, many of whom want to get settled before the start of the upcoming school year. As it is still quite early in the year, there are plenty of selling months to attract a buyer before the quieter summer period.
If you’re looking to sell a family home, it’s advisable to wait until autumn, as many buyers go on holiday over the summer months and have childcare commitments during school holidays – and this won’t be any different in 2023. That said, early summer is a good time to sell smaller houses or flats, as first-time or elderly buyers may want to move before the colder weather sets in.
Autumn is the second-best time of year to sell a house; the weather tends to be fairly mild and there are no major holidays to contend with. If you want to sell before Christmas, it’s best to list your property by the end of September before the market slows down (making it the best month to sell a house).
December is the worst month to sell a house due to Christmas and New Year festivities, and many people occupied with family commitments and holidays. The cold winter weather and dark days can also mean that properties look less inviting during viewings. However, January can be a good time to list a property as the market begins to pick up.
Other considerations when selling property in 2023
While the time of year can have a big impact on how fast your property sells, it’s important to take other factors into consideration. Some of these include:
- Price – The easiest way to ensure a fast sale in 2023 is to make sure that your house is priced correctly. As the market returns to normality after the pandemic, listing your property with an unreasonable asking price could turn buyers away and lead to delays. Buyers may also demand a reduction if costly repairs are found during the valuation.
- Local property market – It’s worth keeping an eye on your local market to see how long similar homes in your area are listed before being sold. Don’t be too disheartened if your property is taking a little longer to sell than those marketed last year, however, as delays caused by the pandemic notably led to high demand and quick sales towards the end of 2021.
- Interest rates – As interest rates continue to rise in 2023, the pool of potential buyers for your home will inevitably shrink, as someone who could afford your home before may no longer be in a financial position to do so.
Don’t rush into the property market
If you rush your home onto the market unprepared, you’re more likely to fail, regardless of whether or not it’s the best time of year to sell a house. If you’re left wondering why your house won’t sell, see if there are any minor problems you can quickly address, such as touching walls up with a lick of paint or giving your home a deep and thorough clean.
What to do if your property won’t sell
A home in the UK takes three to four months to sell on average, but some properties can remain on the market for years. This can be for a range of reasons, including buyers pulling out or an estate agent not promoting the property adequately. If you’re in this situation and you’ve exhausted all other options, you could consider taking out a new mortgage, renting your home, or offering it on a lease option to meet any financial shortcomings. Alternatively, get in touch with a cash house buyer, such as Good Move; our team can give you an instant cash offer worth up to 85% of market value.
Selling your home can be intimidating, and we recommend seeking professional advice if you feel you need it. Although it’s beneficial to list your property when the housing market is busy, homes sell all year round if they’re attractive and priced well. For even more expert advice, check out the latest over on our blog.