Or how long is a piece of string! Well I’d like to think the years of experience and knowledge have got me to a more accurate answer.
The power of rightmove has helped answer this question with the availability of statistics. They don’t answer everything but they paint a decent picture.
When your property is new to the market it has a huge spike in views and enquiries. This is obviously because nobody has seen it before and it could of been what they have been waiting for. Also during the first few days we are emailing and calling potential buyers about your property. Rightmove at the same time throw out emails and alerts to people with in its matching criteria. This the time you are “Hot”. This hot period will be up to around 2 weeks as people settle in to seeing it and ideally viewers viewing it and buying it so you don’t get past this stage! If you do though weeks 3 & 4 are still productive as you haven’t stagnated on the market and will still be viewed as fresh.
After the first month if you haven’t found the buyer then it’s time to change something. Now, what can that be ? Mainly price bracket, are the people in the current price bracket not seeing it at that level compared to similar prices properties? If they aren’t viewing then that’s mostly probably the case. Shifting to a new price bracket will start your ” Hot ” period all over again to a different audience who haven’t seen it before as they weren’t looking that high.
Anything over the 8 week period is usually an unusual case or a pricing issue. So getting your property sold before this window is the key to a successful move so you don’t stagnate and people won’t ask the dreaded question ” Why hasn’t it sold!?”