If you are a Romford homeowner or landlord and considering selling your Romford property soon, you may have wondered how long it will take to find a buyer and sell.
The time it takes to sell a home varies depending on location, property type, price range, bedrooms, and market conditions. For interested Romford property owners, I have compiled the latest data and statistics for the 1,193 Romford homes that have sold stc in the last 3 months, split down by type (detached houses, semi-detached homes, terraced houses, and flats) and bedrooms to give you a clear picture.
The overall average is 45 days, split by type.
- Of the 90 Romford detached homes sold (stc) in the last 3 months, the average time from coming onto the market to sale agreed was 115 days.
- Of the 490 Romford semi-detached homes sold (stc) in the last 3 months, the average time from coming onto the market to sale agreed was 36 days.
- Of the 243 Romford terraced/town houses sold (stc) in the last 3 months, the average time from coming onto the market to sale agreed was 35 days.
- Of the 288 Romford flats/apartments sold (stc) in the last 3 months, the average time from coming onto the market to sale agreed was 63 days.
Note: The sales numbers don't add up precisely to the total mentioned earlier. That's because some properties fall outside the four main categories of detached, semi-detached, terraced and flat/apartments), such as mobile homes, commercial units, land, and building plots.
Now, I would like to split it down by bedrooms.
- Of the 117 Romford one-bed homes sold (stc) in the last 3 months, the average time from coming onto the market to sale was 78 days.
- Of the 337 Romford two-bed homes sold (stc) in the last 3 months, the average time from coming onto the market to sale was 45 days.
- Of the 498 Romford three-bed homes sold (stc) in the last 3 months, the average time from coming onto the market to sale was 34 days.
- Of the 190 Romford four-bed homes sold (stc) in the last 3 months, the average time from coming onto the market to sale was 53 days.
- Of the 39 Romford five bed (or more) homes sold (stc) in the last 3 months, the average time from coming onto the market to sale agreed was 70 days.
(Romford being Romford town centre plus 3 miles).
While the data provides an overview of the home buying and selling timeline in Romford, it is essential to delve deeper into why homes may sell faster or slower. Below, I explore these factors to help you maximise your chances of successfully selling your Romford home.
Why do some Romford properties take longer to sell?
Selling a home in Romford involves more than simply placing it on the market and waiting for offers. Pricing and marketing are the two main reasons properties take longer to sell (or do not sell at all).
Setting the right asking price for your Romford home
The primary factor in selling your home is pricing it correctly. Overpricing will deter buyers as it will appear out of kilter with similar properties for sale.
Remember, only 56.29% of Romford homes that left estate agents' books were sold and the homeowner moved. The remaining 43.71% were withdrawn, unsold, from the market (so the homeowner didn’t move).
The solution? Work with a knowledgeable Romford agent who understands the local market. Research what similar homes in Romford have sold for and seek valuations from multiple agents to ensure your pricing is competitive.
Your choice of estate agent is essential in how fast your Romford home will sell (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 Romford estate agent isn't delivering on their promises, don't hesitate to follow them up and hold them accountable.
If you're planning to try your luck with a slightly higher asking price, that's understandable. But if you’re not getting serious interest within the first couple of weeks, that’s the time to adjust—sooner rather than later. Why? Because the numbers are clear. Research by Denton House using TwentyEA data shows that if your home sells within the first 25 days of hitting the market, there's a 94% chance that the sale will go on to complete (i.e., you move home). Wait over 100 days to agree on a sale, and the chance of the sale completing drops to just 56%. In other words, there's nearly a one-in-two chance the sale will fall through. Timing and pricing matter more than ever.
As an estate agent specialising in the Romford property market, I ensure my clients receive a bespoke marketing strategy, especially tailored to their Romford home's nuances. I also ensure complete transparency and ongoing regular updates to secure the best results.
The best marketing for your Romford home
High-quality photographs and videos are essential in today's digital-first world. Romford buyers scrolling through Rightmove, On-The-Market, and Zoopla listings form their first impressions based on your home’s photographs. Poor or outdated photography can leave a property overlooked, especially seasonal photos (e.g., you shouldn't have Christmas decorations or snow on the ground in the summer) as they reveal how long the home has been on the market.
Consider revisiting your property’s photos with your agent regularly as the seasons pass. Fresh, new professional images can transform your Romford home’s appeal to more potential buyers.
Selling Your Home in Romford
I understand that selling your home isn't just a box-ticking exercise. It's a significant step requiring proper guidance, careful planning, and consistent support. As someone who knows the Romford property market inside out, I offer tailored advice and a hands-on approach to help you every step of the way.
Whether you're looking for a spacious detached house, a cosy terrace, or a sleek flat, I'm here to help you make the process smooth and successful. If you're thinking of moving, get in touch. I'd love to chat about how we can secure the right result for you.