With price sensitivity increasingly evident in the property market, understanding local market conditions and pricing realistically are essential to achieve a sale. Zoopla report that while 59% of listings in February had no price reduction, four in ten did.
8–14 days is the optimum listing duration for agents to achieve the best possible price for your home, according to research of over 6,500 agents by HomeOwners Alliance.
A listing that is too short may not give enough time for potential buyers to discover the property and make an offer; if a property remains on the market, buyers may fear it is overpriced.
The latest survey by RICS indicates that the average sale is currently being agreed within a 5% margin of asking price.
