How quickly are homes in Ceredigion taking to sell?
This week the sales team took to researching and have been looking into how quickly homes are taking to sell and why some properties take longer than others.
How quickly are homes in Ceredigion taking to sell?
Why are some homes selling quicker than others, and why are some properties taking longer?
It came about following an announcement by Zoopla that over 20% of homes are selling within days of hitting the market and that almost 80% of newly listed homes are selling within the first 4 weeks. This is at its fastest ever rate ever recorded.
Why is this happening?
If you follow our social media pages you have most likely seen our "Sneak Peeks" or "Coming Soon" where we entice you to a new property that we are about to showcase.
When a property is new to the market, buyers are at their keenest. Everybody wants to know what is new and activity is high with people desperate wanting to be the first to see it.
Take a home in Trawscoed we have just sold for over its £465,000 asking price. Within days of hitting the market, there were 8 viewing requests. Or our house in Borth that was listed at £489,950, received over 22 viewing requests. These homes have all attracted offers on day 1. People know they have to act quickly when there is so much competition.
The actual average time a property is taking to sell across the UK is 45 days (this takes into account the slow movers), however this is still 16 days quicker than it has been in previous years.
So why do some homes take longer? It is a good question. Often it can be poor marketing, other times the asking prices have been too ambitious. This year alone there have already been 358 properties reduce their asking prices, one by as much as £200,000 and several by £30,000 and more!
This month alone we have had a number of homes sell in under 1 week. Borth, Trawscoed, Capel Seion and Dol-Y-Bont were just some of the homes to sell in days.
The housing market is still exceptionally busy. We have already registered 200 new buyers this month, looking to buy Ceredigion & Powys.
If you are thinking of moving, please think Alexanders. We are here to help and property is our thing. Please feel free to add your details to the "get in touch" box on the right hand side.
Take care,
The Alexanders Team.