To feel bloody miserable that my house probably won’t sell?

It's not the best time OP. I'm a Rightmove stalker and the number of new listings always drop off in December.

It will pick up in the New Year I am sure.

I'd say now is a terrible time to list a home. January, yes. Fresh year, new start.
It's only been a week, but I'd have waited personally. Estate agents talk a load of shit. Keep that in mind.

According to EA, Boxing Day is the busiest day for Rightmove traffic. Currently selling a property due to bereavement and his suggestion was to reduce the price on this day.

@AquaPeer I think because it's easy to go in on rightmove and look what it sold for 2 years ago when prices were at their peak and it's then difficult to justify paying £20/£30K more now when interest rates are a lot higher and prices have gone down.

Why are you so desperate to move only 2 years after buying? Depending on where you live you could find that prices are the same or even lower than 2022. How much a house is worth is only as much as someone is prepared to pay for it, not what you want to sell it for. And it's only been on a week at a slack time of year, no need to panic just yet!

You just need to wait - nobody is going to be making an offer before Christmas, the housing market always slows down at this time of year, not sure why your estate agent told you otherwise....

I don’t know why posters are banging on about the price in such a negative fashion- it’s been valued by the bank and the EA for 540k and only on the market for a week, there is zero reason to think it’s overpriced or needs to reduce.

but OP- you are being incredibly unrealistic thinking you’d have any traction after a week. Properties take months to go under offer. Reset your expectations and try and look on the bright side - you won’t have to accommodate Xmas with kids alongside viewings!

they are absolutely bullshitting you.

never trust an estate agent.

To be honest it's really a bad time to put on the market, you need to hang in there, people start house hunting from Christmas Day onwards

They do, views shoot up, but they’re passively browsing while drinking or whatever. Offers and sales decline massively. Viewings don’t tend to happen; either.

Your agent has been pretty misleading there.

I know it's very stressful OP, but I think your expectations are way too high.

We have been trying to sell a house since the summer, and have just delisted it until spring. Things are so unsure at the moment, in economic terms, a lot of people are putting off big decisions like this until things shake down a bit more.

You can look at this another way…people who are dead serious about moving will be serious about buying over the Xmas period. I sold a flat at Xmas at a good price. My lawyer tried to talk me out of it.

A week at one of the wise times of the year to sell!

I’m desperate to move but need the 540 to break even with moving costs after buying in 2022.

Unfortunately, that's not how selling houses works. Property (regardless of what a valuation says) is only worth whatever someone else is prepared to pay. The market doesn't always allow you to break even, let alone make a profit. Moving costs (including stamp duty and legal fees) are one of the reasons that you generally can't expect to breakeven over short timescales. Unless the local market is particularly buoyant you may have to take a hit when you're moving again after only two years.

Wasn't 2021/2022 when property prices peaked and it has only gone down since? I'm surprised they think it's worth more now than then if it also was freshly done up 2 years ago and it's not anymore. I mean you might find a buyer for that price but it feels very unlikely. It's also very easy to find what you paid for it 2 years ago.

Edited as I thought it had been bought for 220, not 520.

Quite, and it’s December, when nobody is thinking about buying a house.

OP, it will be fine. But houses don’t sell over Christmas. Heck most solicitors don’t work over Christmas. And agents are pushy…they just want the sale. Go at your own pace.

You won't get viewings now - people are too swamped with Christmas prep, but having it on the market now is good. Prime time for viewings is in the lazy days between Christmas and New Year so make sure your home is spick-and-span in lifestyle-magazine levels of presentation from Boxing Day. It wouldn't hurt to drop the price to £540 on 26th December to try to pique some interest, if your estate agents can make that happen on a bank holiday.

Are you pressurising yourself too much, trying to sell in time to buy the property you like? Maybe accept that this may not work out but there will be another house you love in future.
Now is a difficult time to sell and perhaps your house like mine is at its best in warmer weather.

If it was valued at 540 and you bought it 520, you've not over paid. Christmas isn't the right time to list a house for sale and it's only been on the market a week. All properties sell one way or another, try not to worry too much

People might view over Christmas holidays... but it's not Christmas holidays yet!

I love a good rightmove swat, but this time of year so many other things are happening even I am not checking what's being added. I can imagine it's the same for most people.

I'd either take it down and re-list closer to the holidays if that is your strategy, or in January when it picks up again.

Oh, no. That's not much good then.

OP thinks she overpaid 2 year ago.

If you need/want to sell it for 540 I would price it as 'offers in excess of 540' rather than asking 550 in the hope that you'll get 540.

550 may well be more than some buyers are looking at and the house may be over priced and putting people off.

But as others have said, it has only been a week and just before Christmas is not a good time for selling houses, despite what your agent says.

Take it off until after the new year, if you can. As pp said, you don't want it being listed for several weeks because that can also put buyers off and they then start expecting a price drop.

I think this is a terrible time of year to list - people aren't thinking house viewing now.

I'd also advise you work out the lowest price you can sell for - and move on to next property with.

For our first property which went down in price after 2008 crash - we had savings to cover move and other expenses and needed to get our initial deposit back out - we actually ended up better off due to new mortgage rates post move - so knew the price we had to get above which was below what we paid as we'd paid mortgage down over the years though also done a lot of expensive basic work - we had to let that go as it were.