Would this offer be cheeky?

[upsideyerelephant]

I've seen a house I love. It's been on the market about six months and was reduced to £265000 in Jan.

Would an offer if £240000 be cheeky? A very similar house on that street sold for £220000 in December?

Would I be wasting my time? Not linking to the house for obvious reasons, sorry about that.

Any thought appreciated.

Did you actually look at the interior of both houses or just compared based on agents pictures/brochures?

I've just had valuations on my house. I looked at pics of one over the road where the sale is going through and thought it looked better than ours.
The agent who sold it told me to expect more for ours as it looks and feels more modern inside with a much better finish. (Things like it being Victorian but with walls and ceilings re-plastered throughout).

Unless you've seen the other one in person you can't necessarily deem the one you are offering on as over-priced.