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When to reduce?

8 replies

Itsrainingten · 11/06/2024 06:50

Out house has been lovely on Rightmove for 3 weeks (yesterday) in that time we've only had 6 viewings and got one tomorrow.
We've had no offers and only 1 family came back for a second viewing. All have said on the feedback they really liked it and nothing negative so far except 1 who said it would be a sideways move for her as she already had a 3 bed - so why view a 3 bed then??
Do you think it's price? Or timing? The election was called a few days after we went on so I don't know if maybe it's to do with that? Would you remove it from the market for a bit and put it back on later in the summer after the election, reduce the price a bit, or wait it out? I'm conscious that the longer something sits on Rightmove, the less appealing it seems.
For context though the road down from mine is a main road (mine is v v quiet) and it has 2 similar houses to mine for sale on it - same layout, same size, slightly smaller garden, similar condition and both are listed for about 10% more than mine (but not sold)

OP posts:
Itsrainingten · 11/06/2024 07:27

Our house has been live on Rightmove obviously. Not lovely 😂

OP posts:
Sunnyandsilly · 11/06/2024 07:42

3 weeks is no time and 6 viewings is good. Just hold on. It’s not the election. It could be overpriced. But too early to tell.

Sunnyside4 · 11/06/2024 08:34

Can't comment on the price without seeing particulars and knowing the area?

Personally I think it's too early to reduce. Only thing is that if you have your dream home already lined up and are desperate not to lose it, you could say to agent you're prepared to accept offers as they'll feed that onto anyone who seems to reasonably like it when viewing.

Nextdoor55 · 11/06/2024 08:43

Wait. that's very good going. We've had our house on for 3 weeks no viewings at all, depends on area etc. We reduced yesterday but many would have held out.
Just hold your ground you'll get an offer soon

rainingsnoring · 11/06/2024 09:42

Three weeks and six viewings is not too bad in the current market. You are likely to be priced in the right ball park.
I very much doubt it's the election so I wouldn't remove it from RM.
I would give yourself six, maybe eight weeks, as long as you are continuing to have viewings. If no offers after this time or viewings dry up, I would consider a price reduction.

Seaitoverthere · 11/06/2024 10:07

I don’t think you are doing too badly so far. Usually I would say give it about 6 to 8 weeks and then reevaluate but that will take you into the school holidays which can often be slow so personally I would wait until they are over.

Elektra1 · 11/06/2024 10:36

I think it's a slow market and the election hasn't helped with that. Ours has been on since mid-April and in that time we've had maybe 15 viewings, no offers. We knocked 5% off the price a month ago, that only generated 4 new viewings. It's depressing.

Twiglets1 · 11/06/2024 22:39

You’re getting a reasonable amount of interest in your property considering the market is stagnant in most areas. I would leave it on a few more weeks at the current price before thinking about a reduction.

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