What's being offered and what's getting accepted/rejected?

[Tootootoot]

I thought it might be interesting and potentially useful to corrale this information into one thread given the uncertainty in the market at the moment. It could help us figure out what's happening and what's a good/bad offer at the moment.

The idea is just to state asking price, the offer you made/received (depending on whether you're a buyer or seller), whether you made/received another offer, and final sold price if known. The length of time the property was on the market. And the general area in the country and month it happened. I hope that makes sense! I'll start of course:

Asking price £445k
Offer received £436k - rejected
Buyer then offered £445k - accepted
On the market for 2 weeks
NW England, May 2023

Asking price over 525 reduced after 550
Offered 485, rejected
On the market for 10 months
South East

Asking price 385
For sale 5 weeks
offer 358 rejected
offer 380 accepted
nw May 2023

Asking price 575 - 600
Offer of 565 rejected
Offer of 575 accepted
SE coast

Adding - on the market 1 week, April 23

Asking price £180k
Offer received £180k, buyer not proceedable so going to honour viewings booked for this weekend and next week
On the market for 3 days
NW England

Asking price £750k
Offer £730k - rejected
Offer 740k - accepted
Been on market 2 weeks
SE

Asking price: 750
Rejected: 705
Accepted: 720
House on market 1 week, Suffolk

Interesting that selling prices for two different houses on at £750k for a similar amount of time were so different. Also interesting that no "cheeky offers" have been successful so far (by that I mean more than 5% off the asking price) despite all the doom and gloom in the media around house prices.

Where I am the good stuff is selling ok, albeit taking longer than it did a year ago. Anything with an issue (busy road, weird plot, needs work etc) is hanging around and getting reduced.

East Midlands June 2022

House sold
Asking price: oiro £200k
Rejected: £190k
Accepted: £205
On market less than a week

House bought:
Asking price: £274,995
Rejected: £270 and £272,500
Accepted: Asking
On market technically 2 weeks, for sale sign up until contracts exchanged, so 5 months.

asking price £210
offered £185 rejected
house has been on the market for over a year
NE Scotland

Hants/Berks border.

Asking price 425k, they accepted £401,500. We withdrew from the sale as there were issues. Had been on about 3 weeks when they accepted our offer.

Asking price 415k, we offered full asking and didn’t get it. The agent said the people who did had ‘gone big’ and paid more than it was worth, so assume it’s gone for 430k plus. On market three days.

We’re still looking!

Asking price £515,000
Offer accepted £510,000
On market for 8 weeks (offer received after 4 days - we waited for buyer selling theirs)
East Midlands, April 23

East Midlands:
Asking Offers Over 200k
Rejected 175k
Accepted 187.5k
Pulled out now going to auction due to survey issues

Asking 230k
Rejected 215k
Still on market, since February

Asking £215
Accepted £215
Reduced £210 after undervaluation
Was on market for 5 days

South west

Asking: 340k
Offers:(lots all over!)
finally accepted 355k
On the Market for 3 days but this was 2021 when peak selling/buying

I sold it myself 👍🏻

North West here.
We have offered and been rejected on three houses:
Asking £295, offered £270
Asking £280, offered £263
Asking £250, offered £250 (bidding war which we refused to go further on)

We are currently negotiating on another. Rejected at £240 when asking £255. It’s been on for months with no other offers. So we’ll see!

Oh - we sold ours on the first day of viewings for full asking price

West Midlands

We put it on the market mid-Feb 2023

Asking: 250k
Rejected: 220k first day on the market
Rejected: 225k start of April
Accepted: 245k mid-May

SE England
2 bedroom flat
Initially on for £315k - no offers.
Reduced to £305k - no offers
Have come off the market after 12 weeks.

With hindsight we were hoodwinked by the estate agent. More realistic price would have been £290k.

Greater London

Asking: over 220k
Offered and accepted: 220k
First day on market

A week ago

SW - selling
£220k on for 10 weeks no offers
reduced to offers over £200k accepted £200,500

Buying
on for £289k about 10 weeks
offered £270k rejected
offerred £277k accepted

On the market for 5 weeks.

Asking price offers over £550k (reduced from £575k)

Offer of £530k rejected
Offer of £550k rejected
Offer of £555k pending outcome 🤞

I would guess they were priced realistically to start with. As buyers we don’t bother viewing heavily overpriced houses, hence no cheeky offers. No offers at all for many.

Asking price: £785
Offer: £775 accepted

3 weeks on market.

Surrey.