November is the last month of the year before everything essentially shuts down for the festive season. At least, that’s the case in the property market, where the pace slows considerably.
Is November the last busy month of the year, or have buyers and sellers already got one eye on Christmas? Here, we look at what selling a house in November could mean for you and how it might affect your sale.
Seasonal market trends
If you think the property market hibernates in November, then you’re not far off from the truth. It’s a time when the market steadies itself, catching its breath after the summer rush, but before the festive slowdown.
Generally speaking, both buyers and sellers see this month as a tricky time of year for property due to the length of time it takes to get a sale over the line. An offer accepted in November, for example, will most likely see the sale process last throughout December and even past January.
Just take a look at the chart below from Google Trends. It shows the UK searches for the search term “houses for sale” in 2022. As you can see, the demand to buy houses starts to slump from September, and reaches the bottom in December. November is not far from the bottom.
Beyond that, Rightmove suggests that November is indeed the worst month of the year for selling a property.
Challenges of selling in November
Selling a house in November presents unique challenges.
Moving in before Christmas
Many buyers want to move in before Christmas. Due to the time it takes to complete a sale, these buyers will know that by November they have already missed the boat, so they opt to stay put in their current home until Jan. The process of finding the right buyer takes 55 days on average, according to RightMove. Once an offer is agreed, there’s the searches and legal paperwork that needs doing. The whole process takes between 3 – 6 months normally.
Staging and lighting
The shorter daylight hours and colder weather can make it less appealing for potential buyers to attend viewings, and if they do venture out for viewings, homes may not look at their best due to the lack of natural light.
Christmas preparations
Moreover, with the festive season fast approaching, many potential buyers are preoccupied with preparations and may postpone their house-hunting efforts, which could extend the time your property sits on the market.
The key issue with November is that it’s right before December. The Professionals you need involved in your sale including solicitors, banks, estate agents, and surveyors, all start winding down in December. Endless distractions from Christmas parties, to bank holidays, to staff holidays all seem to concentrate around December.
Avoiding Delays
If you have agreed to a sale already, but it’s not yet been completed before Dec, it will likely take 1 – 2 weeks longer because of the December festivities, thus delaying the date by when the buyer can move in. With this knowledge, many buyers and sellers choose to avoid December, which inevitably means avoiding starting a sale process in November.
Are there any benefits of selling a home in November?
It’s not all bad news. Since many sellers will tend to wait until the new year to sell their homes, it means fewer homes for sale during this time of year, which means you might have less competition. Also, house hunters on the market at this time of year are likely to be more serious, meaning you won’t need to weed out the casual buyers from those determined to buy.
What can I do to increase the chance of selling my home during November?
A well-lit, warm and inviting home can make all the difference in November.
Staging your house with seasonal decor can be polarising. Christmas trees and decorations might be deemed as gaudy and may consume floor space, making the property seem small and cluttered. On the other hand, tasteful Christmas decor may appeal to families looking for a cosy atmosphere during viewings. However, it’s probably a safer bet to avoid the decor and showcase an uncluttered, spacious environment.
You should also make sure that your marketing is on point. Effective online listings and virtual tours become even more crucial in November. Professional photos and videos that showcase your home’s well lit spacious qualities and appeal can help attract buyers.
In reality, for sellers, there isn’t a huge amount you can do to make November work for you, except drop your price to make it the property an irrististable bargain.
Pricing strategies
By pricing your home competitively, the property will become an option to a wider array of buyers. This can foster faster negotiations. It’s about finding the sweet spot that attracts serious November buyers without underselling your property’s worth too much. However, in the current housing climate, budget friendly pricing is all the rage anyway, and pretty much anyone selling anything is doing it at a discount.
How to sell a house in November in just 7 days
Getting viewings during November can prove tricky, but if you need to sell there are other options available. Property Rescue provides a helpful solution for homeowners seeking a swift and assured sale, especially during the unpredictable November market.
How it works: We buy your house directly from you for cash. Just get in touch with us, we’ll make you an offer and you decide if you want to sell.
No estate agents. No Rightmove. No doing up your house to make it pretty. No Viewings. And no solicitors fees either, because we’ll cover all expenses. There just isn’t a faster, or more guaranteed way to sell a property in November (or any other month for that matter).
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Do sales take longer in November?
Most traditional sales will be delayed over the Christmas period. Under normal, non-November conditions, it takes about 8 weeks to agree a sale, and another 9 weeks on top to exchange contracts, depending on the location and house type. Now add November to the mix. If November and December happen while a house is on the market, these months could add 4 – 8 weeks to the timeline of finding a buyer. If you already have a buyer by November, and all the surveys and legal work are underway already, then Christmas would likely just add an extra 1 – 2 weeks to the timeline.
If you find yourself still searching for a buyer in November, save yourself a tonne of time by selling direct to a cash house buyer like Property Rescue. Get an offer on your property now by clicking here!