Rightmove confirm March as the most successful month to sell as spring surge gains momentum
Recent Rightmove analysis has revealed that March is the strongest month of the year to sell a home, having the highest number of buyer enquiries per property on average over the last five years.
While new listings are also highest in March, strong demand from buyers in the month means March sees the highest competition. With this increasing competition home owners are being urged to put their properties on the market now, so they don't miss out on securing their dream home.
Here are some facts on the current market:
- New listings are up 11% compared to the same period last year
- Buyer demand is up 32% compared to the same time last year
- Home-valuation requests to estate agents are up 27% since the start of the year compared to the start of last year
- Searches for gardens have jumped 70% in two years, as more people continue to look for outdoor space
This data has been collated from a recent study, which compared Rightmove home-moving data over the last five years, excluding 2020 to account for the closed market periods. It proved March to be the month when the highest number of buyers enquire about each property available on average.
With competition at its strongest many would-be sellers have a good chance of selling their home in the spring time.
April is the next strongest month to sell, based on competition between buyers for each available property, followed by May.
Tim Bannister, Rightmove’s Director of Property Data comments:
“Spring has long been known as a peak point in the housing market calendar, with many buyers and sellers trying to get into a new home for the summer months. However this interesting study confirms that for those considering selling this year, March has historically been the best time to come to market on average. For any sellers who might be conscious of coming to market at a time when the number of new listings has traditionally been high, the data shows us that the level of demand in March means sellers are likely to met with multiple potential buyers competing for their home.
“Those thinking of selling are also likely to be aiming to buy a new property, and may be tempted to begin the search for their new home before listing their current one on the market. Due to the speed and competitiveness of the market, agents are reporting that it continues to be of high importance for those actively looking to become ‘power buyers’, to give themselves the best chance of securing their dream home. This means making sure they have their current property on the market or preferably sold subject to contract before beginning the search for their next home.
“This spring is certainly shaping up to be a busy one, with buyer demand, new listings coming to market for sale, and valuation requests to estate agents from future sellers all continuing to increase compared to last year. Gardens are likely to be high on the list of priorities for home-movers, as outdoor space continues to be a strong consideration factor when deciding on a next home.”