Good or Bad Time of Year to Reduce Asking Price?

adzy77

Hi, we are selling our property and despite a number of viewings we still haven't officially sold (a couple of fell through but that's another story!).

We are happy to reduce the price by a little bit but wondering if this time of year is a bad time to do it? I was thinking maybe we are best to leave it as it is for now and then look at reducing in January?

dinkylink

If you're not in a hurry to move I'd wait until Jan yup. Market  is normally dead leading up to xmas, especially this year. New price in Jan will put you at the top of peoples searches again when more people are (hopefully) looking to move.

peterhjohnson

I would remove the property from the market, spend some time determining the "right" price and go back to the market in January or possibly later.

Hoenir

Another vote for delist now and remarket early in the New Year.  

MikeJXE

Another vote here 

This time of year is the worst time to sell

Take it off the market, look at your pricing and realist February/March. 

lesalanos

adzy77 said:

Hi, we are selling our property and despite a number of viewings we still haven't officially sold (a couple of fell through but that's another story!).

We are happy to reduce the price by a little bit but wondering if this time of year is a bad time to do it? I was thinking maybe we are best to leave it as it is for now and then look at reducing in January?

Boxing Day is the busiest day on rightmove/Zoopla so I would reduce the week before Xmas 

Dustyevsky

lesalanos said:

adzy77 said:

Hi, we are selling our property and despite a number of viewings we still haven't officially sold (a couple of fell through but that's another story!).

We are happy to reduce the price by a little bit but wondering if this time of year is a bad time to do it? I was thinking maybe we are best to leave it as it is for now and then look at reducing in January?

Boxing Day is the busiest day on rightmove/Zoopla .....

And most of them are idly filling time, bored with watching films and listening to Grandad snoring!

adzy77

Thanks all, is there any benefit to actually removing the listing opposed to just keeping it out there at the same price until Jan?

Dustyevsky

adzy77 said:

Thanks all, is there any benefit to actually removing the listing opposed to just keeping it out there at the same price until Jan?

So far as I'm aware, if it's off for a given time, it's re-born as a new listing. What that time is, no doubt someone will know. Re-shooting some photos might be a good use of the time away, though the garden won't benefit at this time of year.

P.S. No photos with any hint of Christmas decorations, though!

RHemmings

Dustyevsky said:

adzy77 said:

Thanks all, is there any benefit to actually removing the listing opposed to just keeping it out there at the same price until Jan?

So far as I'm aware, if it's off for a given time, it's re-born as a new listing. What that time is, no doubt someone will know. Re-shooting some photos might be a good use of the time away, though the garden won't benefit at this time of year.

P.S. No photos with any hint of Christmas decorations, though!

Houses also seem to be re-born as new listings if they change agent as well. I've just had a house appear as 'new' on Rightmove as a brand new listing, but it's one of the first ones I even looked at (only from the outside). I don't use property log any more as Patma does everything I need, but on Property Log I believe that there is a function to link older listings for the same house. So that people who use the plugin may be aware of the longer history. 

adzy77

Thanks both. 'portal juggling' was banned a few years back and a house has to be off the market for around 12 weeks now I think to be classed as new.

Reducing by 2% or more also has the same effect so im just going to leave it up and reduce in the new year.

Im actually considering whether to move EA anyway so will be covered by both eventualities!