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How long should it take for my house to sell

(12 Posts)
wingingit987 Fri 25-Sep-20 14:05:41

Our house went live a week ago. We had two viewings both within a day. One wasn't interested and one was still thinking a week later which makes me think really not interested.

We dropped our price by 2% yesterday as tbh we were over priced I think. But still haven't heard anything or had any interest.

Am I expecting to much as we've found something else that we love.

What is the norm.

OP’s posts: |
Findahouse21 Fri 25-Sep-20 14:09:32

I think it's really dependent on area and property. People on here are reporting houses flying off of the shelves before they're even on rightmove, but where we are things are buoyant although somewhat slower - 3-4 weeks isn't at all uncommon. A week is the fastest sale I have seen

SpaceRaiders Fri 25-Sep-20 14:10:01

The honest answer is it really depends where you are, and what you’re selling. Mortgages are hard to come by for many, unemployment is rising. It’s a buyers market if you went in too high, unfortunately you might have put off that initial flurry of interest.

Findahouse21 Fri 25-Sep-20 14:10:28

Also, check if lowering your price has taken you into a different search bracket on rightmove, as this is what will make you visible to more people.

crimsonlake Fri 25-Sep-20 14:12:32

Gosh, you need to give it longer.
As a buyer I would be a bit surprised that you had lowered the price so quickly and concerned that about the house being initially overpriced.

Sammilouwho Fri 25-Sep-20 14:27:06

Our house has been on a week, had one viewing but another 6 booked over the next week so far. I've also had somebody come to the door and offer cash.
However, the market is a lot slower than a month ago, there are still houses on Rightmove which I added to my list from 3 weeks ago. I read in some financial article that it takes on average 9 viewings to sell your house, so give it time.
I do think you reduced the price way too quickly, although I guess it shows you want to move quickly.

JoJoSM2 Fri 25-Sep-20 14:32:05

2% reduction isn’t very significant so I’m not sure if any potential buyers would have even noticed. You could speak to the agent as they should know if your house is likely to sell quickly or comment on appropriate pricing.

Mildura Fri 25-Sep-20 14:34:43

2% reduction is so small as to be almost not worth bothering with.

If you're going to do a price reduction you should be looking at a minimum of 5%, more likely 10% to have any sort of impact.

RoseMartha Fri 25-Sep-20 14:51:27

Well mine took five months but we went into lockdown shortly after we put it on, so I guess we can dismiss lockdown time in actual terms of how long.

wingingit987 Fri 25-Sep-20 15:09:03

We dropped the price by 7k we won't except anything less that 330 anyway, we would rather stay put as the area is nice and our house is worth a lot more here than in surrounding areas. We're in a very popular area prices of surrounding houses are very competitive.

Thank you for your comments seems like I may have jumped in to quickly with the price drop but we will see what happens. If we don't sell it wouldn't be the end of the world but would be such a shame to lose the other house. Xx

OP’s posts: |
gingerbeerandlemonade Fri 25-Sep-20 15:17:37

The house down the road from us has been on sale for about 6 months. Absolutely nothing wrong with it and well below asking price. Had lots of interest but I think with people being asked for a bigger deposit, people are waiting. We live in a nice area with good assess to schools and railway station.

JoJoSM2 Fri 25-Sep-20 15:21:35

So 7k is 2% so you’re asking about 350k but would accept 330? Personally, I’d list it at 335k. Still gives buyers a chance to ‘negotiate’ and for you to get what you want.

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