How much should I reduce my asking price to achieve a sale? 🤝

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

For our Daily Property News | Like, Comment and Share | Click here #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

#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