When you sell your home, you want to sell your house for the best price possible. However, you must also be realistic, because if you overprice your property, you will struggle to get a buyer for it.
In the past year or so, demand has been high, and many buyers have paid a higher fee to get the house they wanted. However, there is a strong chance the market will slow down now, and this means the asking price of homes will probably fall.
At Frank Schippers, we aim to provide you with the best standard of service when selling your home. We know the local market in Crowthorne, and we also stay in touch with the latest news and updates from around the country.
If you require any assistance in selling your home, please contact Frank Schippers.
A study undertaken by MoveStreets highlights the following points:
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The average asking price on major property portals stands at £296,950
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The average sales price stands at £258,464
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This means there is a gap of 13% or £38,486 when it comes to asking prices versus sales prices
Regional variations exist when it comes to overpricing
As you would expect, the gap between asking prices and sold prices isn’t uniform across the country.
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In the South West, there is a difference of 24% between asking price and sales price
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The South East features a difference of 23% between asking and sales price
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In Wales, the difference between asking and sales price is 21%
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In the East Midlands, there is a gap of 21% between the asking and sales price
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For the North East, the gap between asking and sales price is 21%
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In the West Midlands and the North West, there is a gap of 20% between the asking and sales price
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Scotland stands apart, with the gap between asking and sales price standing at 4%
Adam Kamani, CEO and Co-Founder of MoveStreets, commented: “We’ve seen an incredibly hot market of late and despite the end of the stamp duty holiday, high levels of buyer demand and low levels of available stock continue to see properties fly off the shelf at pace and for a very good price. However, it’s clear that even in current conditions, many sellers are listing their homes at an over-optimistic price point, no doubt in an attempt to take advantage of the market boom.”
Adam Kamani concluded by saying; “This can be detrimental to your sale regardless of how the market is performing and can result in months of little to no interest in your home. It’s the responsibility of the listing agent to guide sellers and set these expectations. While some will value a home at a higher price point to win business, a difference of ten to hundreds of thousand pounds above market value is perhaps a little too far.”
Do you know Crowthorne house prices?
According to Rightmove, house prices in Crowthorne, as of November 2021, are as follows:
“Properties in Crowthorne had an overall average price of £535,393 over the last year.
The majority of sales in Crowthorne during the last year were detached properties, selling for an average price of £687,163. Semi-detached properties sold for an average of £442,571, with flats fetching £232,259.
Overall, sold prices in Crowthorne over the last year were 18% up on the previous year and 6% up on the 2017 peak of £506,696.”
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.
