As the clocks fall back and the nights draw in, property agents might find themselves in a bit of a pickle.
Moverly's latest analysis suggests that the cosy autumn months of September, October, and November aren't just about pumpkin spice lattes and woolly jumpers—they're also the longest when it comes to selling homes, averaging a whopping 73.3 days!
Why the delay, you ask? Well, it seems the sun has a part to play. During the sunlit bliss of British Daylight Saving Time, homes sell faster, averaging 63.1 days. But as we wave goodbye to those long evenings, potential buyers are less keen on viewing properties in the dark. October and November, with their early sunsets, see the average selling time spike to 75 days. When the clocks go back, the average sunset time drops from October’s 6:08pm to November’s 4:12pm, squeezing those viewing hours even tighter.
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Gemma Young, Moverly's chief exec, points out that as daylight dwindles, agents have fewer hours to showcase homes, potentially slowing sales. But fear not! There’s a silver lining in the form of falling interest rates, which might just boost market activity as we head into the new year. This means agents could be juggling more clients with less daylight to work with.
To keep things moving smoothly, agents can turn to tech solutions. Streamlining the conveyancing process by sharing key information upfront can help shave off those extra days. This proactive approach allows for a more efficient selling process, ensuring that even as the days get shorter, the time to close a deal doesn’t have to stretch out interminably.
So, while the days may be shorter, with a little tech-savvy, selling times don’t have to be longer! Embrace the change in season and let technology light the way to quicker sales.
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