When properties sell quickly after being put on the market, it is a sign that sellers are achieving a price for their property above the asking price.
The recent Rightmove price index showed that almost one in four (23%) properties that went sale agreed last month had been on the market for less than 7 days.
Why is it a good sign when properties go sale agreed quickly?
Sellers might normally want to keep their property on the market for a certain length of time regardless of offers received as they will want to see what other offers might come in the longer they wait.
If people are agreeing to sell very soon after putting a property on the market, then it can signal that they are more than happy with the price they’ve been offered. They then want to finalise the sale as quickly as possible as they do not want to lose out on the offer received by waiting too long.
Why are London properties selling so quickly?
Sellers realise that right now is a good time to sell before the stamp duty holiday ends in June and while pent-up demand following the pandemic lockdowns has created an unusual spike in demand from buyers.
People selling their property want to get the most from this spike in prices before more properties start to come onto the market, as the pandemic restrictions and the associated government incentives for buyers end.
Why would I want to sell my property quickly?
Property prices have spiked recently due to a surge in demand following the pandemic, the 95% mortgage incentive scheme, and the extension of the stamp duty holiday until the end of June.
If you want to sell your property while all these factors are in your favour, you would need to sell your property quickly before supply increases as others put their properties up for sale.
To capitalise on the increased purchasing power of buyers until the end of June and before more properties come on the market, you would need to sell your property quickly before any changes happen that might swing the market the other way.
How can I sell my property quickly to capitalise on this spike in prices?
Our estate agents are experts in marketing your property and guiding you in the selling process to help you achieve the best price for your property. We are ready and waiting to get your property onto the market while demand is high.
Contact us today to get your property up for sale quickly!