You may think a higher asking price gets you more money, but it actually loses you lots of money & time
Every home has a price window where it attracts maximum interest.
Start too high and you miss the only moment that really matters.
The first few weeks.
Here is what the data shows.
Denton House Research & TwentyEA analysed over two million house sales.
Only half of homes that come on the market (53.5% to be exact), does the homeowner move (ie exchnage & complete), the rest withdrawn unsold
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53% of the homes that get a sale agreed on them, get that sale agreed within the first 5 weeks.
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If a home hasn't sold by the 12th week, it only has a 14.5% chance of selling
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If a home has a sale agreed on it within 25 days of it coming onto the market, it has a 94% chance of reaching exchange & completion (ie the homeowner moves). Wait until 100 days to agree a sale and that figure drops to 56%.
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Since 2001, British homes have typically sold within 0.9% to 1.3% of their final asking price, aside from the Covid year.
Here is the truth most sellers do not want to hear.
A realistic price at launch protects your equity and you moving.
An inflated asking price destroys it.
Like and comment to spread the word of this important data
Every home has a price window where it attracts maximum interest.
Start too high and you miss the only moment that really matters.
The first few weeks.
Here is what the data shows.
Denton House Research & TwentyEA analysed over two million house sales.
Only half of homes that come on the market (53.5% to be exact), does the homeowner move (ie exchnage & complete), the rest withdrawn unsold
Next...
53% of the homes that get a sale agreed on them, get that sale agreed within the first 5 weeks.
Next ...
If a home hasn't sold by the 12th week, it only has a 14.5% chance of selling
Next...
If a home has a sale agreed on it within 25 days of it coming onto the market, it has a 94% chance of reaching exchange & completion (ie the homeowner moves). Wait until 100 days to agree a sale and that figure drops to 56%.
Next...
Since 2001, British homes have typically sold within 0.9% to 1.3% of their final asking price, aside from the Covid year.
Here is the truth most sellers do not want to hear.
A realistic price at launch protects your equity and you moving.
An inflated asking price destroys it.
Like and comment to spread the word of this important data
