How long on average for offers

samsam89

Morning MSE.

We put our house on the market this week! Have had two viewings so far (one cancelled as their buyer fell through and didn't want to waste our time). Another one booked in for today.

It got me thinking, how long on average would you expect to wait for offers? After 10, 20 viewing?

Would the particulars of our property make you want to view it if you were in the market for something like that? (do you think picture and description are enticing enough?)

http://www.rightmove.co.uk/property-for-sale/property-48318855.html

Davesnave

Who dates an average woman/man?

Who buys an average house?

Not me; I want better than that!

I don't think I'm unique in the way I think. The vast majority of people want the best deal they can get. Deals on houses are based on a combination of price and desirability.

So an average isn't much use, because if your house is only averagely priced and averagely desirable, you may wait much longer than average to sell it!

P.S.
The situation is pleasant and so is the presentation, but have local prices increased sufficiently to warrant you asking £42k more after only 2 years? Which way are prices heading now?

Mickygg

Oh wow what an open question.

Averages just don't play ball in house viewings. You get an offer when someone wants your house, but depends if your house is reasonable price, good location people want, not quirky (such as steps to front door or sloping garden), number of similar houses nearby etc etc.

I would say if you have 10 or so viewings without any interest, price is usually the factor.

I would expect an offer within 5 or so viewings if you are in a good location and competitively priced.

davidmcn

The last house I sold went to the first viewers. It actually took longer than that sounds (as they had gone off to look at other things and came back three weeks later with an offer), and I wouldn't suggest that gives any guidance about how long you ought to wait.

As for yours, the listing looks ok, other than I have no idea what I'm meant to be "stunned" by. But the price seems ambitious - why would I pay £190k for a 2 bed mid-terrace when I have a choice of several cheaper 3 bed semis in the area? Admittedly I know nothing of the area so there might be a good reason.

samsam89

Good comments the question was deliberately open phrased. We had 3 estate agents in to value and they all priced at the same figure with a view to achieving between 180-190. I would say it's possibly priced slightly higher but would hope to attract offers in the region of 180-190k. It's in the upper end of the 2 bed market in our area which seems to peak at 200k.

The property next door "sold" at the same time as ours but took a while to complete.

Location is probably its biggest feature. It's tucked away down a very quiet tree lined private gravel driveway shared with a few executive style homes and has a stream running along the drive.

The use of the word stunning was the estate agents chouce. I'm not sure I'd have picked such a strong adjective!!

csgohan4

every house has a price that people think it is worth, so it will sell at a price.


Is your house overpriced?

samsam89

I was surprised when they all valued at asking of 190k. I was originally thinking 170-180 and was being optimistic. However, the EA's all came back with the same figure and Zoopla valuation is 180k based on price increases since we bought it. So doesn't seem too far off the mark based on those things.

samsam89

Davesnave wrote: »

No, it sold last October.

Houses are only sold when the transaction completes.

We must be looking at different things because there was no house sale next to mine during last year. They all sold in 2015.

Davesnave

samsam89 wrote: »

We must be looking at different things because there was no house sale next to mine during last year. They all sold in 2015.

I can't see it now either.

Apologies. Too many windows open, or I must be having a senior moment.

My post for that will be deleted.

samsam89

Davesnave wrote: »

Who dates an average woman/man?

Who buys an average house?

Not me; I want better than that!

I don't think I'm unique in the way I think. The vast majority of people want the best deal they can get. Deals on houses are based on a combination of price and desirability.

So an average isn't much use, because if your house is only averagely priced and averagely desirable, you may wait much longer than average to sell it!

P.S.
The situation is pleasant and so is the presentation, but have local prices increased sufficiently to warrant you asking £42k more after only 2 years? Which way are prices heading now?

I was generally surprised at the valuation, but went with it as EA seemed confident of achieving near to that price.

Just trying to gauge interest in it. Have had 5 viewings booked since it went on the market on Tuesday night. So it's had 3 full days on Rightmove. That is really what sparked my thoughts on average viewings etc.

PasturesNew

Davesnave wrote: »

Who dates an average woman/man?

Only the drunk or desperate
We all like to think we date BETTER than the average.

Re original question .... only your local estate agent can answer this question .... and even then he'd be guessing about offers on your actual house, depending on his stake/interest in you getting an offer.