Spring might be the perfect time for listing homes
The recent data by Barrows and Forrester reveals the busiest months for the property market and highlighted the favourable time for listing homes.
According to Barrows and Forrester, now might be the perfect time to list homes to take advantage of the potential spring surge in the property market. There are several reasons why spring might be a favourable time for the new listings.
The experts analysed the monthly residential property transactions across England and Wales over the last 5 years and revealed the busiest months. Mainly, the researchers focused on the monthly number of property transactions.
What are the main takeaways?
March is the second-busiest month, with around 63,500 home transactions. These sales were agreed on around the Christmas holidays and cross the line in March.
The busiest month regarding the property market activity is June, with 68,500 transactions on average. Summer might seem a long time away, but it takes between 4 and 6 months to sell a home after the first listing.
It means that buoyant market activity in June is driven by a surge in property demand in spring. So those looking to take advantage of the property market should take that into account and act proactively. In other words, right now might be the perfect time for listing homes.
Meanwhile, there are no reasons to panic if you are not ready to sell your home. The data likewise shows that the average number of monthly residential property transactions sits above the 50,000 level until December.
James Forrester of Barrows and Forrester highlights a typical calmness of the property market during January as people come back from the Christmas holidays. In turn, March typically sees many property transactions completing after agreements around the holidays.
March likewise sees many new buyers and sellers entering the market after the preparation in the first months of the new year. The spring surge in demand drives up the number of property transactions in June, which remains high until December.
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