Properties SSTC get best price nine days after listing – claim
The HomeOwners Alliance says its research has found the ultimate sweetspot for vendors seeking best price for their property.
Nine days is the perfect length of time for a property to be on the market before a sale, according to campaign group the HomeOwners Alliance.
After nine days from the day of listing to SSTC, a property achieves its maximum price, the alliance says.
Agents with an average selling time of nine days achieve 102% of the asking price, raising an extra £5,000 on an averagely priced property.
But agents whose average selling time was seven days or less achieved only 97% of the asking price. The optimum timeframe is 8-14 days for maximum price.
Data from over 6,500 estate agent branches across England and Wales shows how the eventual price paid for a property steadily decreases over time.
After 30 days on the market, sellers typically accept 99% of their original asking price; after 90 days this drops to 95%.
After one month, the price drop is £3,200 off the asking price and the drop is £15,400 if the property is on the market for more than three months.
Optimum
“There is an optimum length of time to have your property on the market, and we can now show that that is nine days.”
Paula Higgins, founder and CEO at HomeOwners Alliance, says: “There is an optimum length of time to have your property on the market, and we can now show that that is nine days.
“Properties sold more quickly than this don’t achieve their full value because they are sold too quickly. At the other end of the scale, properties which are listed for a number of weeks see their values drop steadily, particularly after they have been listed for over a month.
“Those selling a home which has been listed for a number of weeks may want to consider switching agent.”
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