March is the strongest month of the year to sell a home, according to analysis by a property website.
The month typically has the highest number of buyer inquiries per property for sale, meaning this is when competition for homes tends to be strongest, Rightmove said.
Rightmove looked at home moving data over the past five years, excluding 2020 to account for the disruption to the housing market caused by the coronavirus pandemic.
Currently, homes are finding buyers in an average of 39 days, compared with an average of 59 days over the past five years.
March also tends to be a month when more sellers put their homes on the market, although the high levels of buyer demand make it the strongest month to sell a home, Rightmove said.
Would-be sellers who may not get their properties ready in time for March may also want to bear in mind that Rightmove said April is the next strongest month to sell, based on competition between buyers for each available property, followed by May.
Traditionally, December is the weakest month as potential buyers are often distracted by Christmas and activity then ramps up as they start browsing for properties afterwards.
The number of new listings coming to the market for sale is up 11% in the past three weeks compared with the same time last year, while buyer demand is up 32%, Rightmove added.
This spring is certainly shaping up to be a busy one
Tim Bannister, Rightmove’s director of property data said: “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.”
He added: “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.”
