How Long Do Houses Stay on the Market in the UK

You thought that selling would be easy, you love your property, so why wouldn’t someone else, especially when you are so desperate for a fresh start? Weeks are dragging into months, and it’s leaving you wondering, will your home ever sell?

Has my property been on the market for too long? How long is too long when you want the property sold?

How long do most houses stay on the market?

The length of time a house stays on the property market can depend on various factors such as the local property market conditions, the property's location, its condition, the asking price, and the overall economic and political climate. In a hot seller's market, houses may sell relatively quickly, while in a buyer's market or during economic downturns, it may take longer, causing stress and anxiety for sellers. 

Unfortunately for sellers eager to move, no fixed timeframe universally defines "too long" for a house to be on the market, as it can vary by region, economy and circumstances. However, if a property has been on the market for an extended period, it may be an indication that something is amiss when it comes to the listing strategy, considering factors like pricing, marketing, and the property's condition. There may be an issue with your estate agent if they cannot help identify potential issues and provide guidance on adjusting the approach to attract potential buyers. 

So, what are the key signs your property has been on the market too long? 

Lack of interest   

If there has been little to no interest from potential buyers or a decline in showing requests, it may suggest that the property is not attracting attention. Perhaps when the property first went on the market, people were eager to see it, yet now there are very few people actually wanting to look around, this could indicate that it is time to change your plans, reduce the price or wait for a different time. 

Multiple Price Reductions

You may have thought reducing the price could help but if the property has undergone several price reductions without resulting in a sale, it could be an indication that the initial asking price was too high or that the market is not responding positively to your property. 5% becomes 10%, and if your property still won’t sell, it could be time to change your tactics.

Lowball offers 

Few or consistently low offers might suggest that potential buyers perceive the property as overpriced or that there are concerns about its condition. Consider addressing these issues before removing your property altogether by tackling large cleaning jobs or small renovations.   

High Days on Market (DOM) 

If buyers see that the property has a high number of days on the market compared to the average for the area may raise concerns among potential buyers. High DOM can create the perception that there is something undesirable about the property and put people off diving in. 

Equally, a property with a high DOM may give buyers the impression that the seller is eager to sell, potentially reducing the seller's negotiating power and resulting in a lower price. Buyers may assume that the longer a property is on the market, the more willing the seller may be to accept a lower offer.  

Lack of Updates or Maintenance  

Dated properties may spend longer on the market. If the property has not been well-maintained or updated during its time on the market, it may give the impression of neglect even if the property is to your taste, potentially deterring buyers. 

If there is consistent negative feedback from showings or inspections, it's essential to address these concerns promptly. Continuous negative feedback can hinder the selling process. 

Look for changes in the market  

If the local property market has shifted significantly, and the property has not adapted to these changes, it may struggle to attract buyers. Perhaps people are looking for commuter friendly spots, or apartments instead of houses, and your property just doesn’t fit the bill. 

There could be broader issues at play here like seasonal variations. Markets often experience seasonal fluctuations. For example, spring and summer are typically considered peak buying seasons, while the market may slow down during the winter months. 

Equally, changes in government policies, such as tax incentives for homebuyers, new zoning regulations, or alterations to mortgage lending rules, can influence the property market. 

Bad marketing 

Ineffective or minimal marketing efforts may contribute to a property staying on the market for too long. A strong online presence, quality photos, and comprehensive listing details are crucial for attracting potential buyers. Get those pictures in check and take a long hard look at the listing. Is it good enough? 

Negative appraisals 

If you seek a further valuation or appraisal on your home, the number of days it has been on the market may impact the result. Appraisers may take into account the property's time on the market when determining its value. A high DOM could potentially impact the appraisal value, making it more challenging for buyers to secure financing. 

Is there a fix?

Well, sellers may need to reassess their pricing strategy, improve the property's condition, enhance marketing efforts, or consider other adjustments to make the listing more appealing to potential buyers with their estate agent in mind. If your house has been on the market for too long, you need to take action so it doesn’t become completely stale.

Want to sell your house fast?

Your house has been on the market for too long, you know that. If you want to move forward and get some cash in your bank, it may be time to start looking at alternative ways to sell.  

That’s where we can help. The Property Buying Company is a cash buyer, and while we are unable to offer you 100% market value for your home, we can offer a service that sells your home fast, free, and securely, something those looking to make a fast sale and move on may want to utilise. We want to help take away the stress that selling your home can bring, simplifying the process and allowing you to relax - so you can get some cash in your pocket.