The average time to sell a property in the UK from start to finish is 170 days. This is equivalent to 24.3 weeks or 5.6 months from the first day of marketing to legal completion. In fact, in Basingstoke that’s 178 days.
Actual times can vary depending on market conditions, location, property type, and pricing strategy. As an illustration, we offer a breakdown of that 178 days.
Step 1 – Time to Accept an Offer:
On average, nationally, it takes 50 days (up from 43 days in 2022) to accept an offer on a property. This time starts with placing the property on the market, viewings, negotiating an offer and reaching an agreement with a potential buyer.
In Basingstoke, it is taking 37 days on averageto agree a sale on a property.
Again, the type of Basingstoke property makes a huge difference as well.
The best-performing type of property is a Basingstoke semi-detached house, which takes an average of 20 days to agree a sale. In contrast, the poorest-performing type of property in Basingstoke is flats. Thus, they take an average of 75 days.
Step 2 – Time from Offer Acceptance to Completion:
Over the last 12 months, once an offer is accepted, it has taken an average of 120 days nationally for the sale to be completed. This period involves finalising the legal and financial aspects of the sale to the legal exchange of contracts, with legal completion a week or a fortnight later.
In Basingstoke, it is currently taking on average 141 daysfrom the sale agreed to the sale being completed.
It’s important to note that these figures are based on averages and can vary depending on individual circumstances.
If you need to sell your Basingstoke house quickly, thereare a few steps you can take to expedite the process.
Factors that can affect how long it takes to sell a property:
There are many factors that can affect the timeline. However, the three major factors are:
- Your Asking Price: The price you ask in relation to similar Basingstoke properties on the market has the most significant impact. Overpricing can result in fewer viewers, meaning fewer buyers, while competitive pricing generates immediate interest. Look at properties that are similar to yours on the market at the moment. When searching on property portals, don’t search only in price order. Search how long the properties have been on the market. This will give you a fascinating insight into the current state of the property market for Basingstoke homes like yours.
- Buyers’ Market, Balanced Market or Sellers’ Market: The market condition, whether hot or cold, plays a significant role. In a hot market (sellers’ market), homes sell fast and pricing is not as sensitive. In a cold market (buyers’ market), competitive pricing is crucial to avoid a prolonged time on the market with no chance of a sale.
- Quality of Solicitors: Agreeing a price/sale is only half the battle to get you moved. Your solicitor’s efficiency can impact your sale’s progress. Choosing a responsive solicitor who cooperates with estate agents can help prevent delays. We can suggest some excellent Basingstoke and regional solicitors that are experts in their field.
The perfect time to start planning:
If you are considering a move in the next 6 to 12 months, now is the perfect time to start planning. Selling your Basingstoke home can be a complex process. However, you can navigate it smoothly and efficiently with the proper guidance. As experienced estate agents in Basingstoke, we understand the local market dynamics and have a track record of success.
Our team is well-versed in the factors that impact selling time, including the price asked, and market conditions. We work with responsive solicitors who prioritise efficiency and collaboration regarding legal matters. As a result, we can prevent delays and ensure smooth progression from offer acceptance to completion.
By pricing your property competitively, we attract immediate interest from potential buyers. Our knowledge of the local Basingstoke market enables us to navigate buyer and seller markets effectively.
If you want to sell your Basingstoke home, we offer a no-obligation free appraisal to discuss your selling timescales. Our personalised advice and guidance are tailored to your situation. We will give you the information you need to make informed decisions. Together, we can make your move a reality.
