It’s official – in March, competition between buyers is at its strongest, making it an ideal time to sell. Here’s three key stats that might be helpful if you are contemplating making your move
1 – New listings are up 11% in the last three weeks compared to the same period last year
2 – Buyer demand is up 32% over the last three weeks compared to the same time last year
3 – Homes are finding buyers in an average of 39 days, compared to an average of 59 days over the last five years
We have new data from the UK’s biggest property website, Rightmove. They have revealed that March is the strongest month of the year for prospective sellers to come to market.
The study, which compared home-moving data over the last five years, excluding 2020 to account for the closed market periods, showed March is the month when the highest number of buyers are enquiring about each property available on average.
This means competition between buyers is at its strongest in March on average. This provides an opportunity for many would-be sellers to have a good chance of selling their home.
Currently, approximately three quarters of all properties are successfully finding a buyer. That’s compared to a historical average of around half. Homes are finding buyers in an average of 39 days, compared to an average of 59 days over the last five years.
The number of new listings coming to market is also historically at its highest in March. Even with this, the high levels of buyer demand seen in the month means March is still the strongest month to sell.
April is the next strongest month to sell, based on competition between buyers for each available property, followed by May.
As this year’s spring surge gathers momentum, the level of home-moving activity continues to increase since the start of the year.
The number of new listings coming to the market for sale is up 11% in the last three weeks compared to the same time last year. Buyer demand is up 32% across the same period.
The number of requests to estate agents to value a home from would-be sellers is up 27% since the start of the year, compared with the start of last year.
With warmer weather on its way, searches for gardens jumped 70% in January compared to January 2020, as more people look for outdoor space heading into spring.
If reading this makes you curious as to the value of your home, given the buoyant market conditions we are seeing currently, then feel free to use our free instant valuation tool. Looking to sell your home? Get in touch.