Is January the best time to buy and sell?
As resolutions start to go out of the window, and the reality of the early nights and dark mornings creeps back in after Christmas, you may be thinking of making a change by buying or selling property.
It’s a new year, and the perfect time for a fresh start, but is January really the best time?
There are lots of thoughts that January is the best time to put your property on the market. Perhaps because lots of people decide to make a change in the New Year, following on from a crowded Christmas and lots of time spent at home. The Online Mortgage Advisor even notes that whilst a home takes 65 days on average to sell in summer, this reduces down to 60 in January, sometimes to as low as 56.
There’s another train of thought that potential buyers view property with a higher purchasing intent in January than in the summer. With the bitter cold of the UK winter, fewer people make unnecessary trips so as sellers you can rest assured there’ll be fewer time wasters.
But, is it really any different?
Despite all the suggestions pointing to January being the ultimate month to sell, it really isn’t that different.
It may feel as though more properties have appeared on the market, but a lot of this will be due to the decrease in properties agents add online throughout December.
The truth is, you should treat January just like any other month. Above all, don’t panic that you need to act quickly and not take time to process decisions to rush a sale.
How to be successful on the market in January
As stated above, you should treat January like any other month, so the main advice stays the same.
Choose a good agent – a good agent is essential for a successful sale. Ensure they are proactive and responsive. They should work for you, not the other way round, so don’t be afraid to speak with multiple agents until you find somebody that is the right fit.
Choose a good solicitor – in the same vein, your solicitor should be contactable and somebody you feel confident in. All solicitors should be able to handle the legal elements, but you don’t want to be stuck with somebody who doesn’t answer the phone, and doesn’t keep you updated on progress.
Ensure you meet with or speak to multiple professionals within each discipline. Something as simple as a personality clash can make the whole process stressful and unenjoyable.
So is January the time to buy or sell?
The right time to sell is different for everybody. Whilst the festive period can be the final push people need to put their property on the market, or to start searching for their new home, it’s not a time to panic about standing out in a busy marketplace.
Stay calm, and follow the process as you would any other time of year. With the backing of a great team, the journey to buying or selling a property in 2024 should be exciting and enjoyable. If January isn’t the time for you, don’t worry. The property market exists all year round, and the Bryan and Mercer team are here to provide support when the time is right.
Disclaimer: The information in this article does not constitute legal advice and is for general informational purposes only. Please contact a professional to obtain advice with respect to any particular legal matter.