As we move into autumn, the property market is showing some renewed momentum. For homeowners thinking about selling in Shrewsbury and the surrounding Shropshire area, however, getting the asking price right remains particularly important in a market where buyers have plenty of choice.
The latest Rightmove House Price Index reports that the average asking price of a newly listed property rose by 0.7% in September to £367,440. This is the first monthly increase since May and is slightly stronger than the ten-year average September increase of 0.5%
There are positive signs for the Shrewsbury property market as buyers return following the summer holidays. However, buyer demand nationally remains 9% below the same period last year, while the overall number of properties available for sale is at a 12-year high. This means sellers are competing for the attention of a more price-conscious pool of buyers.
For Shrewsbury sellers, realistic pricing and strong presentation could therefore make an important difference. Rightmove's figures show that 74% of homes sold so far this year were priced correctly from the outset without subsequently needing an asking-price reduction.
Timing is worth considering too. It currently takes an average of 64 days to secure a buyer, followed by around 150 days to complete a sale. So, if you're considering selling a house in Shrewsbury this autumn, starting the process sooner and launching at a competitive price could put you in a stronger position for your next move.
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