Jun 07, 2021
4 min read
Once you’ve decided to sell your home, the clock starts ticking. The dominant question you may have as you prepare to sell is likely along the lines of: “How long will this take?”. Highly ranked as one of life’s most stressful events, selling a property comes with a fair bit of uncertainty. Today, we’ll attempt to answer one of our most asked questions as best we can.
Thanks to the recent stamp duty extension and 95% mortgage scheme, the average time to sell has fallen by nearly a week. From listing a property to agreeing to a sale, the average time to sell a house in the UK now sits at 44 days. Houses are selling faster than flats, with an average of 42 days on the market, compared to 62 days for flats.
Every property, every market and every individual sale will vary in terms of days on the market and time from offer to completion. External factors beyond your control (hello Brexit and COVID-19) can create delays. In the current pandemic climate, the process can drag on for several more weeks.
Properties with a large target market are generally easier to sell. That might mean that three- and four-bedroom homes fly off the shelves in family-friendly areas, whereas one- and two-bedroom homes might be preferred in city centres. As a general rule of thumb, larger and luxury properties have a smaller target market, and can take much longer to sell. And the area of the country plays a big part. Yes, you’ve heard it before: location, location, location.
If it’s taking a lot longer than the average above, you could be missing something. Your asking price could be too high, warding off potential buyers. This is why it’s important to book a valuation book a valuation with a trusted Estate Agent before putting it on the market.
As stated above, some factors are out of your control, namely location, the economic landscape and property size. However, you can make your property more desirable to encourage a faster sale. A word of warning, though – price the property too low and you may lose the interest of your target market (not to mention the profit, which dictates your next move).
Here are some actions you can take to accelerate the sale:
With Secret Properties, you can gauge interest in your house before you even decide to sell. Firstly, book a property valuation with a trusted Estate Agent to find out how much your house is worth. When you decide to sell, your agent will work to generate interest before you’re live on the market. You can then list your property as a Sneak Peek, giving interested buyers a chance to book a viewing before the listing is live.
Selling your house can feel like a race against a very unpredictable clock. However, by knowing what to expect and having an experienced agent working on your behalf, you could save yourself days, possibly weeks, of waiting.
Boomin is the only place where your property can be visible and gather interest from the moment you book a free valuation. With only the best local Estate Agents are Boomin, you can feel confident your home has the best chance of a swift sale.