I had a homeowner
from High Brooms email me the other day. She said she had been following
my blog (the Royal Tunbridge Wells
Property Market Blog) for a while and wanted to pick my brain on when is
the best time of the year to sell a property. Trying to calculate the best time
to put your Royal Tunbridge Wells property on the market can often seem
something akin to witchcraft and, whilst I would agree that there are particular
times of the year that can prove more productive than others, there are plenty
of factors that need to be taken into consideration.
Even if you are putting your property on the market,
you don’t know how long it will take to find a buyer - no crystal ball to help
with that one. At the moment, the latest set of figures for all 41 estate
agents in Royal Tunbridge Wells, show the average length of time it takes to
find a buyer for any Royal Tunbridge Wells property is as follows ..
Detached 102
days
Semi 71 days
Terraced 122
days
Flat 112
days
Overall average 99 days
If we roll the clock back to January 2016, the overall
average time it took to find a buyer (again using data from all of the 41 Royal
Tunbridge Wells Estate Agents) was 102 days.
So, on the face of it, things haven’t changed a great
deal over the last six months or so. But, when I looked at the data going back
to 2009, and every Spring since then, the average length of time it takes to
sell a property drops between January and the Summer months, for it to rise on
the run up to Christmas. For example ..
Winter 2009 - 158 days Summer 2009 - 151 days
and in more
recent times …
Winter 2013
- 128 days Summer 2013 - 122 days
Winter 2014 - 122 days Summer 2014 - 98 days
Winter 2015 - 102 days Summer 2015 - 86 days
Coming back to the present, even if you placed your
property on the market today in Royal Tunbridge Wells, if it takes you on
average a little over fourteen weeks to find a buyer, then you can expect
solicitors and the chain to take an additional eight and twelve weeks after
that, before you move. It comes down to personal choice as to when you place
your property on the market. Children often affect the
decision. On one side you might delay putting that for sale board in your front
garden so you can move in the summer school holidays, but on the other side,
you might want to move sooner to
be in the catchment area of a preferred school, in plenty of time for the next
academic year?
There are times of the year when
it's better to sell, and times when waiting a little longer can pay off in the
long run. In a nutshell, I would say this is the way of the seasons ..
WHEN THE MARKET?
Spring: Customarily there are more house-buyers as the Daffodils show themselves
Summer: Sellers may miss out on house-buyers being on holiday
Autumn: The enthusiasm for buying homes returns
Winter: Interest diminishes as festive period looms
What this means to buyers and landlord
investors is that they often pick up a bargain in later months of the year, as
there is less competition from owner occupiers. So, whilst there are better
months to achieve a quicker sale, the only piece of advice I can give to every
home owner and landlord in Royal
Tunbridge Wells, is do the right thing for yourself, do your homework and buy
(and sell) with both your head as well as your heart
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