According to analysis of estate agents by HomeOwners Alliance, estate agents with an average selling time of 11 days achieve 100.4% of the asking price, which would raise an extra £1,000 on an averagely priced property.
The report noted that those that sell too quickly can lose money, with properties sold within seven days or fewer achieving just 94% of the asking price, which could leave sellers almost £16,000 worse off on an averagely priced home.
Data from 6,000 estate agents said that after 30 days on the market, sellers usually have to accept around 98% of their asking price, and after 90 days, sellers typically settle for around 95.5% of their asking price.
Assuming an average UK house price of around £370,000, this could mean that a house sold after one month could typically lose around £5,400, and after three months, the loss could come to £18,400.
| Average number of days on market | Average percentage of asking price achieved | Amount above/below asking price (based on average UK property price of £270,000) |
| 7 days or fewer | 94.1% | -£15,900 |
| 10 days | 100.3% | +£810 |
| 11 days | 100.4% | +£1,100 |
| 14 days | 99% | -£2,700 |
| 30 days (1 month) | 98% | -£5,400 |
| 60 days (2 months) | 95.5% | -£12,200 |
| 90 days (3 months) | 95.5% | -£12,200 |
| 120 days (4 months) | 93.2% | -£18,400 |
| 150 days (5 months) | 91.2% | -£23,800 |
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HomeOwners Alliance said that for those looking to sell at the best time, appointing a great estate agent, getting the price right, instructing a conveyancer or solicitor early, getting the house ready for sale and choosing the right buyer were crucial tips.
Paula Higgins, founder and chief executive of HomeOwners Alliance, said: “Right now, every pound matters to homeowners. Our data shows there is a sweet spot when selling a home and that is around 11 days. Sell too fast and you leave money on the table. Let it drag on over a month and buyers start knocking thousands off the price.
“This isn’t about rushing a sale, it’s about choosing the right agent. The agents who consistently sell in around 11 days are the ones achieving the best prices. When a home sits on the market for weeks, it is often a sign something needs to change. You can see how quickly homes like yours are sold by your local estate agents using our Best Estate Agent Finder.”
