No Offers On House After 3 Weeks - Normal?

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My house went on the market 3 weeks ago. We've had 11 viewings and no offers as yet.

I'm interested in whether this is normal, in terms of the number of viewings we've had and if we should have received an offer by now?

AIBU to expect some results by now or is it just way to early?

Thanks. For context, it's a 3-bed semi detatched house in Southampton, valued at around £300,000 by the estate agents.

Four years ago, interest rates were a lot lower. Many people who may have been able to afford a mortgage large enough for a £300K property four years ago won’t be able to now due to far higher monthly repayments. This will be affecting the market for your property, whatever it was theoretically valued at by a lender several years ago.

I'm not suggesting this at all. It was valued at £290,000 four years ago for our mortgage, so our recent valuation of £300,000+ seemed reasonable to me.

This is an interesting point, thank you!

It really doesn’t matter now what the valuation was four years ago when you bought it. If you can’t sell it at the price you’re asking, then you either drop the price, do some work to improve it, or take it off the market.

People are telling you it needs work, so you need to take that into account. They will be thinking about how much they need to spend.

We didn't buy it four years ago, that was the valuation we received when we applied for our mortgage.

Appreciate what you're saying, I'm just wondering if I 3 weeks is long enough or if I'm jumping the gun to drop the price.

11 viewings is a lot for no offer. What was the feedback? I'd the estate agent getting you this?

Sorry I see you've had the feedback. If it's too much work for quite a few maybe consider dropping the price to allow for this?

It's normal in the sense that this is what normally happens if you've priced it too high.

I sold my house just after the first lockdown of the pandemic and I took the EAs valuation as correct. I hardly had any viewings and no offers for a month. I think the speed of viewings was about right for then. But I thought it would never sell. I dropped the price significantly because I had to sell and it did within days.

Prices went mental then and now things have slowed down considerably with more coming to market each day.

To sell relatively quickly you may need to drop the price.

In my area nothing comes on the market over the school holidays and then in September there is a bump of activity. Your agent needs to be giving you information on what other houses they are marketing are doing, eg Is anything selling or moving and are new viewings coming through etc. ask enough questions to cut through their sales patter if you can.

I wouldn’t call a 1930s home modern by any stretch! So it won’t be that.

I wouldn't be concerned 3 weeks in. Nothing wrong with a bit of wood chip as long as it's not in the hallway - even a novice can DIY strip wallpaper. Good luck with your sale. It might be slow over the summer as PP mentioned so don't panic.

School catchment can make quite a difference too.

I wouldn't drop the price yet unless you need a fast sale. It took 4 weeks and about the same number of viewings for us to get a first offer in London.

Can you update the kitchen a bit by changing hardware etc? This doesn't cost loads but can give totally different vibe/modernise....

Thanks everyone. We're thinking of reducing to £290,000, and if still no results by end of September we'll pull it and relaunch in the new year.

I’m selling my parents house. Have first viewing today after 4 / 5 weeks.