Average time to sell a property?

MNM2903

I am curious and in a hurry to sell. Not in a hurry where in willing to cut my losses .

We found a house we really like but we are depending on a lump of the deposit coming from equity in our house. In just curious if anyone knows how long it takes to sell on average or at least get firm offers coming in so we can move on the property we want.

The stats show that we have had over 700 people look at the property on the Rightmove site, and shows that's it's came up in search results around 5k times.

That feels alot to me and although it's only been on for a week, we haven't had any interest yet. I've linked the property below. Our neighbour is selling also and while we have ours on for a guide price of 125k they have theirs (which is the same) for 120-125 as a guide.

I know alot of factors can influence things like this but just looking for some thoughts from anyone that's went through this process.

https://www.rightmove.co.uk/property-for-sale/property-79847753.html

Thrugelmir

Sold property in just over 2 hours of being listed to 7 months. Depends if what you are selling is in demand and ticks all the boxes to prospective buyers. Lots of people window shop. Hits mean relatively little.

Finding a property first is normally the wrong way to go about it. Unless you are extremely fortunate.

babyblade41

Looking at your house it appears to be in excellent order and very nice but.... there are so many like this so yours will have to stand out and invariably it will be price for that type

The figures on right move are only indicative of what people can afford so in that price bracket there will be many but yours won't get any further if the price is wrong

Have a look at what has actually sold in that area and do some comparisons , but be prepared to give it time, it's still early days.

My last house sold in a couple of hours and one took 18months due to it being a very niche property and I was in no hurry to sell, It finally sold from someone walking by who wasn't actually looking at selling so was happy to wait for them to sell theirs first

Davesnave

MNM2903 wrote: »

I know alot of factors can influence things like this but just looking for some thoughts from anyone that's went through this process.

I could dress-up my language but it's more honest to be very blunt.


Your house is like thousands of others, nearly new, mass-produced and with no USP that I can discern from the average sort of browse length on Rightmove.


In that circumstance, there is only one thing that will definitely influence the speed at which it sells, and that's pricing it noticeably lower than the competition. Anything else will be serendipity.

Cakeguts

Why are you trying to sell a nearly new property for more than it cost when it was built? New properties have premium on them so it is unlikely to have increased enough in value in 3 years to bring the value up to what you paid for it new. If you sell a nearly new property you are going to have to sell if for less than you paid for it because you paid more than it was worth when you bought it new.



It didn't take us long to sell the last 2 properties. It was a rental and we got the price right. I also sold another ex rental to the next door neighbour about a day after it went on the market.

MNM2903

Cakeguts wrote: »

Why are you trying to sell a nearly new property for more than it cost when it was built? New properties have premium on them so it is unlikely to have increased enough in value in 3 years to bring the value up to what you paid for it new. If you sell a nearly new property you are going to have to sell if for less than you paid for it because you paid more than it was worth when you bought it new.



It didn't take us long to sell the last 2 properties. It was a rental and we got the price right. I also sold another ex rental to the next door neighbour about a day after it went on the market.

I have to say this comment has been based on nothing but opinion. The last house like ours sold in 2017 for 123k. It was bought for 110k 3 years ago and I thought it was cheap then, the valuations by 5 different estate agents came in at an average of 125k in not going to sell it for less than I paid when others on our estate have similar pricing, and be is even up for 130k.

theartfullodger

Oh, 137days. From 1998 to 2007

Cakeguts

MNM2903 wrote: »

I have to say this comment has been based on nothing but opinion. The last house like ours sold in 2017 for 123k. It was bought for 110k 3 years ago and I thought it was cheap then, the valuations by 5 different estate agents came in at an average of 125k in not going to sell it for less than I paid when others on our estate have similar pricing, and be is even up for 130k.

Your comparisons have to be with actual sold prices not what others have listed their houses for. So how many houses on your estate that are the same type as yours have sold for £125k in 2018?


I can't find the one that sold for £123k it doesn't seem to be on the list for your road. You can't compare to a house in a different road it may have appealed more than your road there could have been something more about it.



A house is worth what someone will pay for it not what the estate agents tell you it is worth. They usually overvalue to get your business.



How many houses have sold in your road? Not on the estate but in your road? What can make a similar house more valuable can be as simple as which direction the back garden faces, or the parking space or the size of the garden.

Monkeysocks42

Cakeguts wrote: »

Why are you trying to sell a nearly new property for more than it cost when it was built? New properties have premium on them so it is unlikely to have increased enough in value in 3 years to bring the value up to what you paid for it new. If you sell a nearly new property you are going to have to sell if for less than you paid for it because you paid more than it was worth when you bought it new.



It didn't take us long to sell the last 2 properties. It was a rental and we got the price right. I also sold another ex rental to the next door neighbour about a day after it went on the market.

What a sweeping statement! I live in a three year old house. Several neighbours have sold for WAY more money than they paid for their houses and my next door neighbour has recieved an offer for £35k more than he paid for his house three years ago.

ReadingTim

MNM2903 wrote: »

I know alot of factors can influence things like this but just looking for some thoughts from anyone that's went through this process.

All anyone can offer are the factors which you claim you're aware of already, so you've answered your own question.

Or are you hoping someone will tell you it's not all about price?

Because if that's what you're hoping to hear, you're going to be waiting a long time....

lookstraightahead

This question is unanswerable. You can vary how long you want it on the market by the price you would accept. You will sell more quickly the cheaper you sell it at.