Is this the Best Ever Spring to Sell Your Home

According to Rightmove, this is the best ever spring to sell your home! The market has had the strongest start to the season with asking prices hitting new record highs as supply simply cannot  meet the current demand.

The gap between the number of those looking for a new home and sellers is the biggest Rightmove has ever measured at this time of year.

If you’re selling, then the likelihood is that you’ll be looking to purchase a property in the same market too. The positive news is that Rightmove has reported more sellers coming to market, bringing more choice of properties for sale. However, you’ll be competing against other buyers. Having a buyer for your own property will make you a ‘power buyer’ and give you more chance negotiating and having an offer accepted on your next home.

Here are some reasons that this is the strongest ever spring to market your home for sale:

Record asking prices

The average asking price of a property in the UK has gone up by an incredible £5,760 this month (March 2022) and the national average asking price is now a record-high of £354,564. This is the largest rise seen at this time of year in 18 years.

IT’s an incredibly competitive property market here in Scotland with estate agents reporting that homes are regularly going to closing date, receiving multiple offers from buyers and achieving up to 30% over the asking price. Whilst these conditions last, it’s advisable to put your home on the market now in order to give your home the best change of maximising the value.

Multiple buyers per property

At present, there are over twice as many buyers there are sellers in the market, which is the biggest imbalance that Rightmove has ever recorded at the start of the spring property selling season. This means that you have an excellent chance of being able to choose between several suitable buyers for your home and can consider several factors, not just price, including whether the buyer is in a chain, has a mortgage secured or is a cash buyer.

You have the highest-ever chance of finding a buyer within the first week

Properties are selling at some of the fastest times ever. At present, 20% of all property sales are being agreed within the first week of the property being listed on Rightmove. In 2019 it was double this figure for the same period.

With sales being agreed within the first fortnight on almost half of the homes listed, this shows just how high buyer demand is, and how quickly you could be in a strong position to make an offer on your next home.

Contact us at Caledonia Bureau to discover how much your home is worth this spring.