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February 14, 2020
3 minute read
Latest research shows that the time it takes to sell a house could make – or cost – you thousands of pounds.
According to analysis from HomeOwners Alliance’s Best Estate Agent Finder tool, 14 days is the optimum length of time for a property to be listed on the market in order for it to achieve the maximum sale price.
Agents with an average selling time of 14 days (from day of listing to sold subject to contract) achieve the highest asking price – at 99.4% of their stated price.
But homes sold after 1 month achieve 98% of asking price, dropping to 91% after two months – costing homeowners £20,000 off an averagely priced property
Data from over 6,500 estate agent branches across Britain shows how the eventual price paid for a property steadily decreases over time. Similarly, agents whose average selling time was less than 14 days achieved only 97.5% of their asking price.
With the average UK home now changing hands for well over £200,000, these few percentage points will equate to thousands, or even tens of thousands, for sellers.
Urban Lighthouse, an independent estate agency in Bristol, was one of the agents with a 14-day selling record and netted its clients approximately £12,000 over their original asking price of £355,760. By contrast, one of the lower performing agents selling a property of similar value and with an average selling time of three months, achieved 89.5% of asking price, costing its seller more than £41,000.
Based on average property prices across the UK (£235,000), a 14-day sale will mean the owner would be close to achieving their asking price (£1,400 below). However, the amount by which they fall short of their asking price increases significantly the longer the property is on the market. After one month, the price drop is more than £5,000 off the asking price and the drop is more than £20,000 after 2 months on the market.
Commenting on the data, Laurence Irvine, Director of Urban Lighthouse, said, “A keenly priced property will help to maximise the initial buzz which comes with a property new to the market and increase the chances of competing bidders, resulting in achieving a higher eventual price than if you start over-optimistically.”
And he warned, “You will never recapture that initial buzz – even if you reduce the asking price further down the line.”
We couldn’t agree more with Laurence. This data shows just how important setting the right price is. A good estate agent will help you set the asking price, so choose them wisely. Here’s how to secure a house sale by the 14th day of marketing your home.
March 25, 2025 
