Should selling your Harborne home be a flip-of-the-coin chance?

As your dedicated estate agent in Harborne, I, as Director at McHugo Homes, am committed to providing valuable insights to ensure a seamless and successful home-selling experience with the ever changing landscape.

With this in mind, I want to offer any homeowners considering selling in 2024 some advice to help get you moved this year in the quickest time possible and for the best price, as in 2023, only 52.88% of properties that came to market ended up selling, giving homeowners a flip of a coin chance of selling their home. 

On average, it is currently taking 67 days to agree a sale on a property and a further 113 days to go through to completion.

If you are one of the 52.88% moving home, it will typically take 6 months from you placing your property on the market to actually moving home. At the time of writing, this would mean listing your home at the start of March would typically result in moving home at the end of August.

What to consider

The first month of marketing any property is the biggest chance to get sold and achieve the highest price with research showing properties that sell typically generate at least 40% more interest than comparable properties that are on the market over the first three weeks of marketing.

There were 17.03% more properties for sale in February versus the same period last year and this was also 3.85% up on January.

More competition from other sellers means you need to have your choice of agent, asking price, and marketing strategy spot on to give you the best chance of selling.

Not only this, buyer affordability has reduced by 27.5% compared to the record low interest rates of two years ago, so you need to be doing everything to attract these buyers to your property and appeal as great value for money, rather than an over inflated, aspirational price.

The most recent data shows that 9% of properties are selling in their first week of marketing and 32% are doing so in the first 30 days. You will also increase your chances of selling for higher than the average 95.4% of asking price and not be one of the 48% who are selling their homes following a price reduction.

You may have thought with a nice property and popular location your home will sell instantly, but as the property market landscape evolves, adapting your strategy becomes crucial for a successful property sale in Harborne.

By navigating the complexities with a proactive approach and strategic decisions, you can of course position your home as an irresistible prospect, ensuring a swift sale at an optimal price.

The McHugo Homes personal strategy is designed to guide you through this journey.

I am happy to help with your property related/home moving conundrums and indeed here to assist for an up to date property valuation or strategy meeting this Spring.

Andy McHugo

07751675267