PROPOSED WRITE UP
Fresh figures show the average time from a home coming onto the market to being marked as Sold STC is still measured in weeks rather than days. While many properties do go on to sell, it is worth remembering that only around one in two homes that come to market actually achieve a sale. The remainder are withdrawn unsold, which underlines the importance of pricing correctly from the outset.
Here is how the average time to secure a buyer looks today, compared with 18 months ago (Summer 2024) :
• Northern Ireland, 72 days(was 87)• North East, 64 days (was 64)
• North West, 72 days (was 70)
• Yorkshire and the Humber, 78 days (was 70)
• West Midlands, 75 days (was 70)
• East Midlands, 82 days (was 76)
• East Anglia, 78 days (was 73)
• Wales, 90 days (was 81)
• South West, 84 days (was 71)
• South East, 82 days (was 73)
• London, 88 days (was 79)
• Scotland, 48 days(was 48)
While a small number of regions have remained broadly stable, most areas are now taking longer to secure a buyer than they were 18 months ago. The most noticeable slowdowns are evident in Wales, London, the South West and parts of southern England.
This widening gap reinforces the need for realism on price. Zoopla has previously stated that homes which require a price reduction take around 2.4 times longer to sell than those priced correctly from day one. A well-priced home attracts stronger early interest, maintains momentum, and avoids the stagnation that often leads to reductions and, ultimately, a lower final figure.
If you would like to discuss where your Wolverhampton home sits within the local property market, feel free to ask for a free, no obligation market appraisal.
