Asking Price vs Sale Price - What Frome Sellers Need to Know
Setting the asking price is one of the most important decisions you make when selling a home.
This data reveals the average difference between the original asking price and the final sale price achieved over the past two years for UK house sales. It highlights a clear trend across the UK where most homes sell for less than their initial asking price. Yet averages only tell part of the story.
• Scotland: +5.46%
• North East: -2.73%
• Yorks & Humber: -3.11%
• North West: -3.02%
• West Midlands: -3.23%
• East Midlands: -3.67%
• London: -3.63%
• East Anglia: -3.76%
• South West: -3.82%
• South East: -4.19%
• Wales: -4.27%
It must be noted that Scotland has slightly different way of buying property as homebuyers often bids over the asking price, not under … a key distinction.
In England & Wales, realistic pricing is the key to success. This doesn’t mean pricing high at the start never works. Sometimes a seller lands a dream buyer and achieves more.
And here’s another important number…
✔ If your property sells (sold stc) within the first 25 days, there's a 94% chance it’ll go on to exchange and complete (ie you move home)
✖ If it takes more than 100 days to sell, that figure falls to just 56%.
Yes, you can try a higher asking price. But if you haven’t had strong interest or offers within the first few weeks, it’s not a sign to wait longer, it’s a sign to act.
If you're based in Frome and the surrounding area and you thinking about selling in 2025, now could be a great time to have a chat.
