If you’re a homeowner in SE16 thinking of selling your property, you have probably wondered how long it will take to find a buyer.
The timeline for selling a home varies depending on factors such as property type, price, and market conditions. Fortunately, we’ve compiled the latest statistics for 192 homes in the SE16 area that have sold stc in the last 3 months, split down by type (detached houses, semi-detached homes, terraced houses, and flats) to give you a clear picture.
- The 1 detached home sold (stc) in the last 3 months in SE16, the time from coming onto the market to sale agreed was 49 days (median time obviously also 49 days).
- Of the 10 semi-detached homes sold (stc) in the last 3 months in SE16, the average time from coming onto the market to sale agreed was 81 days (median time 69 days).
- Of the 13 terraced/town houses sold (stc) in the last 3 months in SE16, the average time from coming onto the market to sale agreed was 107 days (median time 55 days).
- Of the 164 flats/apartments sold (stc) in the last 3 months in SE16, the average time from coming onto the market to sale agreed was 130 days (median time 83 days).
NB—some of you will notice all the numbers don’t add up to the total number in the second paragraph. This is because there are certain types of property that fall outside the four main types, including mobile homes, land, building plots etc.
These figures show the average number of days a property in SE16 takes to go under offer. However, selling a home doesn’t stop there. The entire process—from listing your property to completing the sale—can stretch over many months due to legal procedures and other factors.
It currently takes, on average, 134 days from agreeing to sell to completing an SE16 property
(interesting when compared to the national average of 119 days)
While the statistics provide an overview of the home buying and selling timeline, it’s essential to delve deeper into why homes may sell faster or slower in SE16. Below, I explore these factors to help you maximise your chances of successfully selling your SE16 home.
Why Does It Take Longer to Sell Some SE16 Properties?
Selling a home in SE16 involves more than simply placing it on the market and waiting for offers.
A variety of challenges can affect how quickly your SE16 property sells. Here are the most common reasons homes might linger on the market longer than expected.
1. Setting the Right Asking Price for Your SE16 Home
The biggest factor in selling a home is pricing it correctly. Overpricing will deter buyers, as your home may not appear in their search results, appear out of kilter with similar properties for sale, or may not align with their expectations.
Remember, over the past 24 months, only 36.12% of SE16 homes listed for sale successfully sold, resulting in a move. The remaining 63.88% were withdrawn from the market without a sale.
The solution? Work with a knowledgeable estate agent who understands the local SE16 market. Research what similar homes in SE16 have sold for and seek valuations from multiple agents to ensure your pricing is competitive.
2. Estate Agent Performance
The choice of your estate agent plays a pivotal role in how fast your home sells (and even if it sells at all). Some agents excel at marketing properties and maintaining active communication with potential buyers on their mailing lists, while others may fall short. If your agent isn’t delivering on their promises, don’t hesitate to follow up and hold them accountable.
As an estate agent specialising in the SE16 property market, I ensure my clients receive a tailored marketing strategy, especially for the area’s nuances, complete transparency and ongoing updates to secure the best results.
3. Quality of Photographs
In today’s digital first world, high quality photographs are essential. SE16 buyers scrolling through Rightmove, Zoopla and On-The-Market listings form their first impressions based on photographs. Poor or outdated photography can leave a property overlooked, especially seasonal photos (i.e., Christmas decorations or snow on the ground in summer) as they reveal how long the home has been on the market.
Consider revisiting your property’s photos with your agent regularly. Fresh, professional images can transform your home’s appeal and attract more potential buyers.
4. Mortgage Challenges
Some properties in SE16 might be more complex for buyers to secure mortgages on. For example, apartments with short leases, unique construction materials, or flats above shops can raise concerns for lenders. These challenges can limit the pool of potential buyers. If your property falls into one of these categories, work with your agent to address these issues. Solutions such as extending your lease or highlighting property strengths can make your SE16 home more marketable.
5. Timing of Sale
The time of year can influence how quickly properties sell. Spring and summer typically see heightened buyer activity, while autumn and winter may present slower markets. External factors like economic uncertainty or mortgage rates can also impact buyer behaviour.
If timing isn’t ideal, a strategic marketing approach can still generate interest and results. A skilled SE16 estate agent will tailor your home to the prevailing market conditions, ensuring it reaches the right audience.
Selling Your Home in SE16
I recognise selling your home is more than just a transaction—it’s a journey that requires expertise, preparation, and persistence. As an estate agent deeply invested in SE16’s property market, I pride myself on providing personalised advice and support to every client.
Whether you’re selling a detached home, a charming terrace, or a modern flat, I’m here to guide you through the process.
If you’re considering selling your home, let’s discuss how we can achieve the best outcome for you. Send me a message or call today—I’d be delighted to help you navigate the SE16 property market with confidence.
The SE16 Property Blog 