“How long will it take to sell my house?” This is the most common question asked by prospective homeowners when they think about putting their property on the market for sale. If you wonder how long it will take to sell your home on the open market, keep reading the article to find the answer to your question.
Since there are many factors that affect how fast your house might sell, no real estate agent can give a definitive answer to this question. Some of the most common reasons that affect the speed at which your house might sell include the location of the property, curb appeal, interior design, proactivity of your estate agent, and more. Simply put, some properties may sell in the blink of an eye while some others may take a while. Selling a home in the UK can take about 2 to 3 months. But this is not always the case. For example, some houses can sell within the first week while others may remain on the market for many months or even years. If you need to sell a house fast, get in touch. For more info go to Cowell Norford. The City Rate of Sale report was recently released by the Post Office Money Mortgages, and the document states that the average property in the United Kingdom takes around 102 days to find a buyer. The report surveyed properties in over 20 of Britain’s largest cities in 2018 and found that the time a house stays on the market varies between cities. For example, properties in Scotland – Edinburgh & Glasgow – stay for the shortest amount of time on the market. These properties take an average of 39 or 48 days to sell. On the other hand, properties in London, Liverpool, and Newcastle had to wait considerably longer on the market with the average property taking 126 days to sell.
What Are The Variables That Affect How Fast A House Would Sell?
The #1 variable is the price of the property. You need to set the list price of your property at the right value to sell the house fast. The price of your home is important for two main reasons:
- Overpriced properties take longer to sell.
- A fairly priced home will attract much more buyers and take much less time to sell.
When you are setting the asking price of your property, you need to make sure that the price you set accurately depicts the market value in the area, considering the propensity to buy among potential buyers.
The price of the property is not what you think it’s worth but the market value of similar properties in the region or neighborhood. It might be difficult to set an asking price when you are emotionally attached to the property. But a prospective buyer won’t value your property based on how much you like it. Overpriced homes take much longer to sell since fewer people are likely to afford them.
The location of your property is the second important variable to consider when selling a property. This is the one thing that you cannot alter. But it is one of the most critical factors for prospective buyers. The better and more desirable your neighborhood is, the more interested the potential buyers will be. The City Rate of Sale report indicates that “time to sell” varies between locations. But your property’s neighborhood is very important when it comes to selling the property.
. Homes located in desirable neighborhoods – with good local amenities and schools, low crime rates, and green space – are highly sought after.
. Houses located close to public transport networks or commuter lines are in demand.
. The walkable distance to local amenities also matters. Even if the house is close to local shops and doctors’ offices, it can be a huge benefit when selling your property.
Even though the location is a factor that is out of your control when selling a house, you should certainly consider this factor when you are buying your next property. If your home isn’t located in a desired neighborhood, the price of your home should reflect it. The local Romans property team can advise you on property hotspots and the prices of properties in these areas.
