Most agents may argue that every month is the best time to list but Rightmove has identified February as the optimum point when homes have the best chance of finding a buyer more quickly.
The portal analysed millions of properties listed for sale since 2012 and the trends linked to the month of listing, excluding 2020 due to the pandemic.
On average, homes listed in February have taken 51 days to find a buyer – just ahead of March’s 52 days, and level with January.
In addition, an average of 66.4% of homes listed in February have gone on to find a buyer – the best chance of finding a buyer alongside April – just pipping second placed March’s 66.3%.
February listings are also the most likely to go on and finalise a completion of sale, and the least likely to be withdrawn by the owner from the market, according to the research.
With March also coming very high on the rankings, the data highlights that those getting ready to sell at the start of Spring are also putting themselves in a strong position to get moving in 2024.
In the year so far, the number of buyers contacting agents about homes for sale is 8% higher than last year, while the number of new properties being listed by sellers is 11% higher, Rightmove said.
Tim Bannister, Rightmove’s property expert, said: “The best time to get moving is the time that’s right for you – we can’t always plan or predict when a life move is needed. However, for those who are able to be a bit more flexible about when they decide to sell, the data shows typically the start of the year has been particularly strong.
“It’s also when we’ve historically seen the most buyers sending enquiries to agents, so it’s a great time for those looking to sell to make sure they are listed, their marketing is strong and they’re pricing attractively enough against other sellers.”
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More smoke and mirrors from Rightmove, first it was Boxing Day (when no agents are open!), now it's February, what next, Easter!
Tim Bannister, Rightmove’s property expert, said: “The best time to get moving is the time that’s right for you – Right so that's clear then - basically when the client is ready they will list their property.
Rightmove still taking agents as fools, I wonder what excuse or how they will justify the rate hikes when agents leave now that OnTheMarket (CoStar) are attracting so many new agents listing.
Do you think a model for cost per lead or cost per successful lead would be a better route for these portals which might stop the ever growing fees. But I do wonder how each lead would be calculated in terms of price or even how the portals could be paid for a successful lead
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