Sean Jenkins of Complete Estate Agents in Leamington writes:
Over the last few years, certainly since 2008, it would be fair to say that the housing market has not followed traditional patterns.
As the market recovered from recession, the busy periods have stretched out across the year, with many estate agents in Warwickshire last year reporting no slowdown over the autumn and into the winter period.
In the first half of 2014, our property sales figures were almost identical every month, with the exception being a huge ‘spike’ in February. In other words, as many properties sold in January as in April.
In the second half of 2013, the number of properties sold in August was broadly the same as November. February isn’t traditionally seen as the busiest month of the year and November certainly isn’t usually seen as being as good a time to sell as August.
However, the figures are there to back up the claim that traditional wisdom might these days be completely wrong.
If you’re a potential property seller, why should you sell in winter? In a word: ‘competition’. Or, rather, lack of it.
Smart sellers will consider selling when demand is high but supply is low. If yours is one of the few properties available, with most other sellers still accepting the traditional wisdom that they should wait until spring, you will have proportionately more potential buyers competing to buy your property.
People tend to move home based on family circumstances – a new job, a new baby or downsizing after retirement. These events happen regardless of the time of year, so the demand still exists, regardless of the weather or shorter days.
Also, as many people believe that winter isn’t a good time to sell, fewer people put their property on the market during the winter months which means less competition and more buyers for your own property.
If you are thinking of selling or buying call Sean Jenkins on 01926 887723.