When it comes to selling your home, the size of the property can have a significant impact on the time it takes to agree a sale. So which homes sell best in Bournemouth?
The last 10 years have shown that the housing market can change quickly and dramatically (and certain members of the Foxes team have the grey hair to prove it). Although Bournemouth remains a desirable location for buyers, the south coast is in no way immune to the impact that economic factors and market forces can have on sales.
Just a few months ago, we published a blog article revealing that it was taking an average of 51 days to sell a property in Bournemouth (across all estate agents, from the property reaching the market to it being sold subject to contract). More recently, thanks to a range of factors including, undoubtedly, those troubling Brexit negotiations, that figure had almost doubled to 101 days.
Interestingly, however, there are certain types of property that are still selling much faster – and conversely, others are taking much longer to reach a sale.
Which Bournemouth properties sell fastest?
The star players locally are currently terraced/town houses and semi-detached properties, whilst apartments seem to be sticking for a little longer in Bournemouth.
Number of bedrooms, too, has an impact on sale time. Three-bedroom properties average 93 days, whilst bigger four-bedroom homes are taking almost twice as long to sell, averaging some 142 days.
So, what does this mean for Bournemouth buy-to-let landlords and homeowners? There is no doubt that there is a profusion of properties on the market in Bournemouth compared to 18 months ago – it’s not because more houses are coming onto the market, it’s because they are also taking a little longer to sell.
This makes it slightly more a buyer’s market than the seller’s market we had back in 2014/16. Therefore, in some sectors of the Bournemouth property market, it is much tougher to sell, especially if you want to sell your home fast.
How to sell your property more quickly
There are, however, certain steps you can take to encourage a swifter sale, whatever size and shape your home is, and the property experts at Foxes are on hand to help.
- Marketing your home at the right price is critical. Bournemouth sellers currently end up reducing their homes by an average of £16,000 before they reach a sale, with almost 40% of sellers seeing a 5% reduction from their original asking price. Some estate agents will over-value homes in order to bring sellers onboard, but at Foxes, we’ll help you set the right price for your circumstances.
- As a seller, it’s always a great idea to give your property a quick facelift before it hits the market. First impressions count, so tidy your home’s exterior, freshen up tired paint work if you can and clear away clutter to make sure buyers can see your home’s full potential.
- Finally, choosing the right estate agent is also critical (and yes, we know, we would say that!). Foxes has a huge amount of experience in the local property market, and will work hard for you to actively market your home, bring potential buyers through the door and encourage them to take the leap.
Thinking about selling? Contact the Foxes sales team today for an informal chat on 01202 299600 or visit our website at www.foxes.co.uk