When to drop price

seven-day-weekend

Our house has been for sale for one week and we have had no viewings. We put it on at the price the EA recommended (although we thought it was too high), as we are not in a particular hurry to sell. We thought we would try it and see.

However, we also don't want it to languish on the market with no viewings.

So, is it too soon to drop the price? Should we drop the price? If so, when should we do so?

http://www.rightmove.co.uk/property-for-sale/property-53023820.html

catterlen

We live in a small village in Cumbria - took us 1 month to get our first viewing, and a full 3 months to get our first offer which is on a par with the local area, so a week doesn't seem long to me. Depends what your area is like and how fast houses sell....
House looks nice and well presented to me though....

AdrianC

Normally, when EA details throw words like "immaculate" around, my scepticism barriers come up. I have to admit, those are some good pics - if they're a fair representation, then that's one very nicely presented house.

But the price does seem a bit optimistic. Click the "other properties like this" link, and you're £15k more than newbuild 3-bed terraces. You're mixing it with almost-as-nicely-presented 4-beds, and even 4-bed detacheds.

After one week, though? Nah. That's a bit premature, and smacks of desperation to anybody interested - it may well make any offer come in much lower, just to try and capitalise on that apparent haste to sell.

PasturesNew

Two weeks is pretty normal, if it's been put on to try out a higher price and if you really want to sell.

RAS

I am slightly confused as to which house is for sale? The doors and roofs do not line up.

So is it the left hand one with the two roofs or the right hand one whose roof seems to extend over the left hand door?

csgohan4

Pictures are nice clean and clutter free, which is important for a buyer. I agree with the above, your priced above the average in the area. But if your pricing it high, you have to be willing to stick to it or reduce your price if you want a quick sale.

somethingcorporate

Those rooflines are very confusing!

Lovely looking house and very well presented. Just be patient, 1 week is definitely too quick to reduce the price unless you want to look very desperate.

DRP

love it.

where did you get your 'shed' ?

Chanes

If you check the market for sold and under offer in your area your property seems to be much more expensive? You might have to wait for the right buyer?

kinger101

It all depends on the local market. In some places, you can expect viewings booked the day it goes on the market. Find out what's normal where you are (and for your size of property) and then go from there.

EDIT: Just checked the listing. It's a very nicely presented house, but having only a downstairs bathroom will put some buyers off. My main concern is it's advertised as a three bedroom, which would include the loft room (which isn't described as such in the floorplan or particulars). If the loft room meets building regulations, call it a bedroom. If it doesn't, then DO NOT MARKET AS A THREE BEDROOM! Recently on this site, someone got the vendor's EA to pay all their legal costs from an aborted sale when they found out that a loft room described as a bedroom did not meet building regulations.

carefullycautious

Lovely house, the garden is gorgeous also.