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How long does it take to sell a house and do you have to keep reducing asking price?

We have had our house on the market now for 6 months, with very little interest. It is well presented and competitively priced. We are not in a real hurry to move, just concerned about whether it will sell at all. Our estate agent tells us that it is a price driven market and the only way to sell fast is to drop price. We can't drop the price much more, is it even worth trying to sell in this market? Thanks.

Asked on Jun 25 2012, House Prices in Liverpool | Report content

Answers (1)

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  • It is a price driven market, but don’t let that fool you into thinking your house won’t sell. If it is priced competitively, then it is just a waiting game. Six months on the market in this climate is not that long. I have seen houses sat on the market for years, it is down to the individual how long they are willing to wait for that one buyer. If you know you are priced competitively, which is easy to look into with sites like Zoopla and Rightmove, then be patient and don’t allow your agent to rush you in to a quick sale…unless that is what you want! A house across the road from us was on the market for over two years, they eventually dropped price and got asking price. The price they got was very good. So although I don’t know your area well, I would still advise you to be patient. We are in the same boat, priced competitively, but don’t want a quick sale for less money. Wait a while and see what happens with prices in your area. Prices are not going to fall significantly, in the next one-two years, prices may rise. Those wishing to wait for the bottom of the market, may end up having to pay more! Yes, it is worth trying to sell, just be realistic and give it time. I wish you the best.

    Answered on Jun 25 2012, Report content

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