Landlords who are trying to sell their properties with a glut of similar homes on the market can draw inspiration from new data released today.
Property consultancy TwentyEA says temporarily withdrawing a property from the market because it failed to sell in its first few weeks of listing can actually improve the chance of a later sale.
And the consultancy insists that whether a property’s price is lowered upon re-listing makes virtually no difference to its chances of selling.
TwentyEA found that 53.4% of all residential property sales occur within the first five weeks after being listed, and just over 75% happen within the first three months. The chance of a sale after the first three months drops to just 14.5%.
In 2024, TwentyEA recorded 550,000 properties withdrawn from the market. After a rest period of three months, 90,000 were re-listed. Some 54% – accounting for 49,000 properties – had a price reduction, while 46% or 41,000 were listed at the same or a higher price.
The analysis shows that the 49,000 with lower prices had a 42.4% chance of selling, while the 41,000 with the same or higher price had a 42.1% chance: almost exactly the same rate of success.
This article is taken from Landlord Today