How Long Does It Take To Sell Your Home?

While it is impossible to predict, with any degree of confidence, how long it takes to sell a home, it is a question most vendors ask. People like to plan and having a timeline in place creates urgency and motivates people. While each house sale is unique, it is possible to review data for your local area, allowing you to consider the average length of time.

This guide takes information provided by Rightmove and HM Land Registry to compile a list of how long it takes to sell your home across various areas of the West Midlands.

Know your local area in the West Midlands

The B65 postcode region, the Rowley Regis district, which also covers Blackheath, has an average time of 16 weeks to sell a property. According to Zoopla, the average price paid for a property in this area, in the past 12 months, is 167,923 GBP.

For the B66 postcode area, containing east and north Smethwick and Bearwood, the average time taken to sell a property is 15 weeks. The average price paid for a property in B66 in the past year is 168,955 GBP.

The Oldbury district spans two postcode areas. In B68, the average time to sell a property is listed as 16 weeks while in the B69 postcode area, 18 weeks is the average time to sell a property. The average price paid for B68 property in the past 12 months is £169,310, and for B69, the average price paid is 149,621 GBP.

Anyone with interest in the B70 postcode area, covering the south, west and town centre area of West Bromwich should note it takes an average of 16 weeks to sell a property. In the past 12 months, the average price paid for a property in B70 is 145,424 GBP.

There isn't much of a difference between these areas, and of course, there are steps you can take to speed up the sales process, without compromising on the quality of the transaction.

You can improve the sales process

Vendors should be aware that the price of the property plays a huge role in the sales process. Setting a low price attracts buyers at a fast rate, but you will lose out on money if you follow this approach. If the vendor must sell at short notice, this is an option to consider, but in all other circumstances, this approach should be avoided.

If you set a valuation that is too high, there will be little interest in the property. Also, if you initially set a high value on your property, and then lower the price, some buyers will be wary of the price drop. It is natural for buyers to have concerns about a property which has experienced a price-drop at short notice, and this may harm the level of interest that your house experiences.

Therefore, it is essential to place an accurate value on your home. The value of your home relates to the condition of the property but also connects with market forces. The level of supply and demand for homes in your area shapes what a buyer is willing to pay for a property.

If you want to place an accurate value on your property, you need to call on the services of a skilled and experienced local estate agent. Market knowledge and having an awareness of the community, and what buyers are looking for, helps to promote your home in the most effective manner.

Anyone looking to sell their home in the West Midlands will find Innovate to be a suitable option. We are local property market specialists, and we look forward to assisting you.