Realistic Pricing Critical as Overpriced Homes Sit on Market 4x Longer

Correctly priced homes sell in an average of 36 days, while homes needing price cuts sit on the market for 127 days. Setting a realistic asking price helps properties sell fast and avoids major delays. [1, 2, 3]

Key Market Insights

• Fast Sales: 74% of completed sales happened without any price cuts.
• Longer Delays: Overpriced homes take nearly four times longer to sell.
• High Competition: Property stock is near a 12-year high.
• Buyer Advantage: Buyers and investors hold more negotiating power now. [1, 2, 3, 4]

Advice for Sellers and Investors

• Price Right: Set a realistic price from day one.
• Local Expertise: Hire an agent with deep local market knowledge.
• Honest Advice: Work with professionals who offer realistic property valuations. [1, 2, 3]

The Numbers:

• 74% of homes sold and completed this year did so without an asking price reduction 
• Homes requiring price cuts spend an average of 127 days on the market, compared to just 36 days for correctly priced homes 

What This Means for Investors: Jennifer Lawler, Sales Director at Elite Realty Invest, noted: "The market is rewarding realistic pricing and exposing unrealistic expectations. Stock remains close to a 12-year high and sellers are having to compete harder for buyers – that's putting negotiating power back into investors' hands”.

Chris Thomas, managing director at Wiglesworth & Co estate agents, advised sellers: "Accuracy of pricing is everything... choosing an agent who knows the local area and market extremely well and has a proven strong track record of giving honest and professional advice is essential”.

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