gardensAndMoss
First-time buyer
I’m trying to sense-check a Birmingham sample before drawing conclusions from it. The asking-price bracket is £209,000 to £313,600, the properties are mostly warehouses, and the typical listing has been visible for 11 days.
My tentative theory is that transaction fees may help explain the divide between stock that moves quickly and listings that linger, but I may be giving that too much weight. Condition, buyer financing, seller motivation and even where neighbourhood boundaries are drawn could be more important.
Asking-price data is easy to find; recent completed-sale figures and withdrawn listings are much harder to piece together. For anyone watching this market closely: are new listings actually turning over, or are sellers withdrawing and relaunching them? It would also help to know when price cuts tend to appear and whether the pattern changes noticeably by neighbourhood or property condition.
My tentative theory is that transaction fees may help explain the divide between stock that moves quickly and listings that linger, but I may be giving that too much weight. Condition, buyer financing, seller motivation and even where neighbourhood boundaries are drawn could be more important.
Asking-price data is easy to find; recent completed-sale figures and withdrawn listings are much harder to piece together. For anyone watching this market closely: are new listings actually turning over, or are sellers withdrawing and relaunching them? It would also help to know when price cuts tend to appear and whether the pattern changes noticeably by neighbourhood or property condition.