publication date: Jun 11, 2013
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
Working out what’s happening in your local market through board counts
To learn how to carry out the for sale versus sold board count yourself, visit the Property Checklists website and sign up for 'How to work out my property market checklist'. You can also find over 30 property checklists to help you to work out what to do and when for any property project.
This analysis is very similar to board counting which you can do at your own local level to work out if the market you are operating in is rising, static or falling.
Once you have carried out your board count, check it against the following guide:-
- A fast moving market will see four out of ten or more boards sold within 6-8 weeks. Offers will be 96%+ of asking prices, eg. if your property is marketed at £100k, offers are £96,000 or more.
- A static market is where supply matches demand and approximately three out of ten properties are sold. Properties will take eight to ten weeks to sell and have an offer ratio of 94-95% of the asking price.
- Falling markets (where you can get good deals if buying) typically only have two out of ten properties or less sold. Offers would come in at 93% or less of asking prices and take 12+ weeks before an offer is accepted.