How quickly do properties sell in my particular area?
There are a few key sources to find out this information including using online tools as well as speaking agents.
The first place we recommend you start is to look on Rightmove or Zoopla. If you put your postcode in and extend the search out by one quarter of a mile (or how large the area you want to cover) you can see what’s currently for sale and what has been sold subject to contract (also referred to as “STC”).
At a glance you can see how many days each listed property has been on the market for. This can be tedious as you will have to check out each property and make a note on a piece of paper or Excel document. However, this gives you more accurate data as you can start to formulate an exact view of market and how quickly properties are being sold.
This is more accurate than looking at the past sold data as this data can be more than 6 months old. And a lot can happen in six months.
So if you’ve got a three bed terrace, put a three bed terrace in, filter your search results down, and then you’ll see what’s for sale, the length of time and the price being asked for.
You may be surprised by your findings. Both good and bad.
Some agents can give a misleading picture of the demand in an area, falsifying how quickly your house can be sold.
Typically for your house to be sold quickly it has be competitively priced. So do your research, see what prices similar houses to yours are selling for and the prices that they’re not selling for.
If you wish to get more detailed understanding of how quickly you can sell your home, fell free to contact us on 0191 486 2386