What Percentage Discount Did You Sell For?

[FreestylingFlamingo]

We've just accepted an offer for 5.88% under our original asking price. We're in Bedfordshire and have been on the market since late June.

I'm thinking we've taken too much off percentage wise but the market is very slow here. Interested to know what percentage others have sold for, what county you're in and how long you've been on the market for!

We are for sale but no offers yet. Although it has only been a couple of weeks. It would be interesting to know. A colleague recently completed the offer which was accepted was 4.7% north west

We were about 6%. Went on at 325, reduced to 315, sold for 305. We are in the South East and took 3 months to sell. The market here is so slow!

Sold our flat for 8% below asking price - on market for 6 months in London.

Bought house for 3.5% below asking price - on the market for 3 weeks in South East.

Whenever I’ve sold, agents have always been pretty clear to expect offers in at least 10% below sale price, and expect to negotiate upwards, as unless you’ve a very desirable property in a hot market, that’s what buyers will typically expect off. An under 6% reduction is good going, especially in a slow market.

Ultimately, whether you think it’s “too much” needs to be taken in context. Have you had lots of interest and higher offers? If you haven’t, and have tested the market for several months now, then it’s what the market is willing to pay you. It would only be “too much” if you had lots of people willing to pay more.

The value of your house is what someone is willing to pay for it, not the number the estate agent gives you.

We are at conveyancing and sold a flat for 10% below asking and bought a house for 8% below asking. Both South East

Well yes, but you have to put a guide price! It would look odd on Rightmove to have a house with 'Make us an Offer!' as the price.

It’s a bit of a meaningless question isn’t it? If you overprice you’ll end up taking a bigger discount, even if the actual price is the same as someone who was more realistic from day one and sells at full asking.

Yes but OP says ‘I think we have taken too much out ff percentage wise’.

But it’s a percentage drop from a relatively arbitrary number, rather than an exact ‘price’.

Last year we sold at 8% under in rural Carmarthenshire and bought at 6% under in coastal W Sussex. House we were selling was completely renovated, the one we purchased hadn't been touched for 50+ years.

We'd been on the market for almost six months when we accepted the offer on ours in early May (under ten viewings in total over that time, the couple that offered/bought originally viewed in March). The house we purchased had been on for a couple of weeks when we viewed/offered in May.

Their original offer was 6% under, but we had to drop a bit more when issues with our septic tank arose post survey.

Completed in Sept 2024.

Thanks to everyone who's replied. It's insightful to get real time data as official published data is months behind.

To add more detail, we had three agents value it and went for the mid-point. It was on for the same price as other comparable properties in the immediate area that went on the market at a similar time. Those properties have since reduced and have not yet sold.

We have one other party interested but they haven't had a single viewing!

We're buying in a different area so will be interesting to see what percentage reduction (if any!) we get there.

I’ve just had my house valued. There is £50k difference in the valuations . If I put it on a the lower I wouldn’t drop a penny. At the higher and 5% would be fine.

In March, we sold for 3.9% below asking and bought our next house for around 2.5% under asking.

We sold in May for 5.3% under our guide price. If we hadn't we would have lost the house we now have and I never did see anything else which compared to it. Even now when I'm browsing out of nosiness I've not seen anything! We could still afford our onwards purchase accepting a reduced offer though, so it's relative to your personal circumstances.

Given the fact that other comparable properties haven't sold and are now reducing and that another potential buyer hasn't even had a single viewing on their home, what makes you think that you've knocked too much off? Surely, the logical conclusion would be that you have been fortunate to have had an offer when lots of others have not.

As @MidnightPatrol says, the price is that a buyer who can actually proceed is willing to pay. The market is slow/falling with lots of reductions in most areas, even on new builds. Unfortunately, a lot of chains seem to be falling through too. I would grab the offer if you want to move and proceed as quickly as you can.

Yes, all true. I think it's because we need to go back to the area we want to move to and see what we could buy the house we're interested in for. We don't know at this point if they would come down on their price.

I do agree its a difficult market (and possibly worsening market) and that if you're serious about selling, you need to grab a viable offer with both hands.

In March ours went for 1% under asking. This was our 3rd buyer and we originally accepted less than that, then asking price and then this buyer offered 1% under.
We bought for 5% under asking price, had been on a month when we offered.
As people say though it's kind of irrelevant as depends if house is over valued in 1st place. We were pretty confident in our value as always found buyers within about 2 weeks.

We sold for 12% over, with asking price ieo £230k. Was VERY surprised indeed. Sold (with multiple offers) within a week.

Also a lot depends on circumstances. We got an extremely good deal on this house but I think the vendors were keen to move and weren't desperate for the funds. The agent was familiar with our backstory (long) and knew we were also keen to get cracking. Only 1 below us so it was a very straightforward chain which after being in the process several times I can see does mean more than money at times.

A rural SW house near us didn't sell last Autumn at £385k (did they refuse offers, I don't know). Marketed with another agent early this year sold about a month after, at the asking price of £350k.

I sold recently for 5% under, bought for 11.5% under (but the asking price was wildly optimistic). South West.

We sold recently for asking price in 24 hours (Yorkshire, £20k above EA valuation) BUT we had been following the local market for 18 months, priced competitively and understood the competition.

I would not bother working this out. The starting price is based on a guess by you or the estate agent, nothing real.

Sold last May fir asking price and bought for 3% under

We sold for 0.6% under asking price, but that’s because we priced realistically. If we’d listed it at an unrealistic price then that percentage would be much bigger.

So pretty meaningless question, depends how sensible your asking price was in the first place.