Should I Wait Until January To List My House For Sale?
When is the best time to put your property on the market?
If you’re thinking about moving home in the early months of 2027, you might be tempted to wait until January to put your house on the Market. Many people do exactly this! They postpone selling at this time of year with thoughts of getting Christmas out of the way and believing the usual 'hot' housing market in January is the ideal time to attract buyers after the holiday season. However, this is not strictly true...
Whilst January is certainly a 'hot' busy time in the market, it's not actually 'hot' with proceedable buyers. The data clearly shows that people who list when sales agreed are high, and new supply to the market is low, have the best chance of selling quicker and for more. A typical peak in agreed sales is not January, it's October!
What is a 'Proceedable Buyer?'
Quite simply, it's a buyer who is in a financial position to make you an offer. Examples are:
First-time buyers with a mortgage agreed in principle.
A cash purchaser who has the full amount sitting in a bank account (not many of these).
A buyer that's just sold their current home and is looking for their onward move.
The last example is the most important one and most common. These buyers are highly motivated to secure their next property quickly!
So it makes sense, to put your property on the market when properties are Selling. And especially at a time when not many new properties are being listed.
What's the Market like right now?
October 2024 has seen record monthly sales agreed in WA4 and WA5 postcodes than in any month since before Covid. That's over 6 years! And we expect to be agreeing on Sales in November and early December too. This is a record number of people who have Sold their property and are eager to buy their onward move.
Predictably, little new stock comes to market in November and December. All these buyers have less to choose from meaning you have less competition. So now really is the ideal time to list to get moving.... and here's proof.
Working with a property data analysis company, along with available data from Rightmove and the Land Registry we've checked every property transaction that 'Completed' (i.e. changed owners) in WA4 and WA5 going back 3 years. We can see when it was first listed for sale and with what agent. From this we calculate average time to move by month. And the results are clear...
What does the evidence show and mean to me?
Seller No1: (You)
Decided to put their house on the market 1st December. Statistically, they will move house in 24 weeks. That's the middle of May.Seller No.2 (Your competition)
Decided to get Christmas out of the way and list in a 'Hot' market. Well, firstly they waited at least 4 weeks, maybe longer if they didn't speak to agents before then. Add to this typical time to move is longer, at 26 weeks, and this gets you moving in July.
Wait what! it takes around 6 months to move home?
Yes, that's right. That's the average for all agents that completed a property sale in WA4 and WA5 over the last 3 years.
CARE! Some agents will tell you they'll get you moving quicker than this. A couple of agents (including us) do indeed perform better. But ask to see proof and check their reviews on Google and AllAgents.
But let's break this down, why so long?
It takes an average of 4-6 weeks to agree a sale, and then it takes Solicitors, Lenders, Surveyors and Searches around 4 to 6 months depending on time of year! For a sale to go through quickly, it takes every person and company involved in the whole chain to be working equally speedy.
A typical chain might involve:
A First-time Buyer ...
A Seller who intends to buy yours ...
YOU and your property ...
The Seller of your onward purchase at the top, who could be selling up to release their equity.
That's 4 people, 4 solicitors processing 3 buying transactions and 3 selling transactions. Add to this 4 surveyors, 3 estate agents, 4 local authorities and 4 lenders, possibly 3 more lenders if the buyers are settling mortgages with different lenders. That's 26 people that need to coordinate together!
So why does it take longer to move house if I list in January than in December?
It's true to say, December sees far less people wanting to view property than January. However, the ratio of Proceedable Buyers to New listings is massively in your favour! Fewer viewings but mainly from people very eager to choose their onward move and having just sold, they are in a position to. This places you in a 'Sellers market'. Less competition, more attention from motivated buyers!
Conversely, in January the opposite is true and the Market shifts against you if you decided to wait. The market floods with new listings, meaning you have much more competition. Also, it floods with new people planning to move but are not even on the market yet. You get a high amount of viewings, but most are from people not in a position to offer.
So is January a bad time to sell?
No, definitely not.
You may favour a move in the Summer, rather than Spring. You may not be able to accommodate viewings over the festive period. The purpose of this blog is to help you make the best decision for you, with the facts.
The Savvy Seller (and Buyer) Strategy!
Listing your property in December gives you a huge head start on your competition. By the time new listings flood the market in mid January, you may already be in a stronger position as a proceedable buyer yourself, ready to jump on any new properties that catch your eye. January is an ideal time to buy a new property if you are proceedable. Otherwise you can only dream about purchasing then watch someone else buy your dream home. Also there are some sellers who won’t even entertain a viewing with you unless you are a proceedable. If you listed and sold across November and December, you will be first in line to view new listings and agree a sale in January. Solicitors are also less busy in January, so the transaction goes through quicker.
One last thing, and this isn't good news...
The stats I've cited above exclude the time a Seller may have wasted if they chose a poor agent who promised the world and failed to deliver a sale. Choose badly and you can add another 3 - 6 months to your journey. In particular, watch out for The Valuation Trap.
Check their reviews on Google and AllAgents. How many delighted sellers have taken the time to write positively about them?
Look out for a 'Selling' Agent. Avoid 'List & Leave it' Agents - Choose wisely!
That's a lot to take in, so what can I take out of this?
Quite simply, if you've decided your home is too big, too small, or in the wrong area, or whatever your reasons, call an Estate Agent you trust and get your property on the market, no point in waiting. Once you've lost the love for your current home, the sooner you list, the sooner you move.
I hope this Article is helpful to you. If you are considering bringing your property to market, please don't hesitate to contact us directly for honest, straight-talking advice.
