How much should I reduce my asking price to achieve a sale? 🤝
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Asking price reductions are greatest right now for homes that are stuck on the market...
🔹The transition to a buyers’ market has prompted more asking price cuts to attract offers
🔹A quarter of sellers are now dropping their asking prices within first 90 days of their home being on the market
🔹This increases to 61% for those whose homes have been on the market for more than 3 months
🔹Today, 36% of recently sold homes (subject to contract) have undergone an asking price reduction
So, how much are house prices being reduced in October 2023?
Currently, 4 in 10 homes on the market have been listed for 90 days or more. Out of these homes, 61% have had their asking price reduced (41% by 10% and 20% by 20%).
Our recommendation is simple: pricing must be set correctly from the outset - the first 4-6 weeks of marketing are crucial...
📩 To read more on this interesting topic, please click this Zoopla link for the article in full 📩
If you would like more information on how to sell your home, email Sam Barker, Operations Director at Cavendish Residential (sam.barker@cavendishproperty.co.uk) 📧
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#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
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