If you’re selling or buying a property in Bournemouth, there are a few reasons why it may be taking some time to agree a sale – or to find that perfect place to call your new home.
So how long is too long to persist in the Bournemouth property market?
If you’re looking to sell your property, it could be down to the local market, the wider economy, the asking price, demand for your particular property type – or all of the above. However, it’s undeniably infuriating if your home has been on the market longer than you anticipated, so it’s useful to know what’s reasonable for the area. Looking at the market in Bournemouth compared to a year ago is interesting:
When it comes to the average length of time on the market, it’s the detached, semi-detached and terraced homes in Bournemouth that appear to be taking longer to sell. The length of time Bournemouth apartments seem to be on the market has remained the same.
The overall average length of time a Bournemouth property remains on the market has risen by 11.6%, from 69 days a year to 77 days today
The question that remains is, if you are having no luck selling, should you leave your Bournemouth property on the market or not? This is basically down to your personal circumstances – a big decider has to be if you are moving up market or downsizing.
Buyers will compare your Bournemouth property to all the other homes on the market using portals such as Rightmove, On the Market and Zoopla. And even if your asking price is realistic, if your marketing such as photos, brochures and videos isn’t top dollar, they will dismiss your property.
Remember, the average buyer only views 4.5 properties before they buy and on average, each buyer will only spend just over 25 minutes viewing each home …
The more properties that are on the market, the greater the choice for buyers (yet more competition for house sellers), so we wanted to look at how many homes were for sale in Bournemouth now, compared to 12 months ago.
As you can see, there are hardly any differences between the property types in Bournemouth.
Homes for sale in Bournemouth
|12 months ago||Now||Percentage Change|
|Bournemouth Terraced/Town House||101||103||2.0%|
As for buying a Bournemouth property, searching for that dream house can take time whilst you weigh up factors such as schools, affordability, suitability – and more. If you’re keen to snap up a new home quickly, don’t forget that upwards of 10% of homes do not make it to the property portals mentioned above, so make sure you’re registered with all the local agents too. The number of times I speak to disappointed buyers who missed out because other buyers registered directly with the agent for property whilst they relied on the portals.
Given the amount of money involved in buying or selling a home, it’s sensible not rush into buying or selling without due consideration. However, a good agent will help you buy or sell at a pace that’s right for you, so for an informal chat, get in touch with the Foxes team today.
For more advice about Bournemouth property, speak to the local experts at Foxes Sales & Lettings. Get in touch with us by emailing email@example.com or calling us on 01202 299600.