How long will it take to sell my home?

How long will it take to sell my home? Some people might suggest it’s like asking how long is a piece of string? And in some cases that’s true.

The reality is it depends on a lot of factors, including kerb appeal, location and interior design. Some properties sell quickly while others can take a well.

How long will it take to sell my home?

According to statistics, the average time it takes to sell a home in the UK fell to 44 days earlier in 2023. But that includes the whole of the country, including hotspots like the South East where competition for housing is more fierce.

When it comes to how long it takes to sell a property in the North East, figures say it’s closer to 130 days on average. But an estate agency software firm warns that its figures show that it could take up to 6 months.

Four stages of selling

There are usually four stages of a ‘standard’ timeline when it comes to the sale of a property. These are:

• Listing your property, which can take 1 to 3 days.
• Marketing of the house and waiting for an offer. This can take around 1 to 14 weeks.
• Conveyancing and financing. Expect this to be around 8 to 16 weeks as this involves the diaries of solicitors and other factors.
• Exchanging contracts and completion. The final stage can take around 1 to 2 weeks.

Of course, this all depends on a lot of factors, including any conveyancing or search issues that may be unearthed. And the property chain you’re in can also have a major impact on the time it takes to sell a property.

What can affect the sale?

There can be a countless number of factors that affect the sale of a home. This can include:

• Cosmetic issues. These are often easy to rectify as many buyers want a blank canvas. Here’s our advice on how cosmetic changes don’t have to cost the earth but can boost the value of your property.
• Asking price. Take the advice of an experienced estate agent, such as our team at Jill Moore Select Properties. If your property is overpriced compared to others, you might wait longer to sell.
• Market forces. As we’re experiencing a cost of living crisis, house prices are falling. The market isn’t as buoyant as it was as people wait to see what happens with interest rates and inflation. That doesn’t mean you can’t sell a property, but you should be prepared for the possibility of a longer sales time.

As we’ve already mentioned, a property chain can seriously affect sales time. If someone pulls out, then make sure you let your agent know immediately so they can start searching for another buyer as soon as possible.

How to speed up the sale of your property

There are ways you can help the time it takes to sell your property.

First of all, ensure you choose businesses and people who will help you sell carefully. Get recommendations for your estate agent, solicitor and removal companies.
Conveyancing solicitors are key, so choose one that will deal with paperwork and queries quickly.

Stay in touch with your estate agent as this reduces the chance of communication errors. And be realistic about the timescale. Selling in a quiet market in the middle of winter will mean it takes longer than in a buoyant market in springtime, which is when there are more buyers. It sounds obvious, but bare it in mind.

If you’re realistic, you won’t be disappointed if it takes a little longer than others you know have sold their property.

What to do next!

If you’re thinking of selling your property, then speak to an experienced estate agent. The team at Jill Moore Select Properties have a lot of experience in selling properties in the North East, particularly Washington, Houghton le Spring, Birtley, Gateshead and Sunderland.

That means we understand the current market and the different areas, which means we price your property to sell at the best price. Contact us today for details.