We are often asked when taking on a property, how long it is likely to take to achieve a sale. The short answer is, for the very individual properties we sell, it is impossible to tell. We recently sold a house twenty hours after collecting the keys. Other properties have lingered years on the market.
What is the reason for this disparity? A series of factors influence the time it takes to sell. Some of these are under the control of the vendor, some under our control as agents and some are external factors which neither of us can affect.
Some key factors which influence how long it takes to sell a property in Andalucia
Real estate market
Supply and demand are key factors. In a seller's market, where demand exceeds supply, sales are typically quicker. Conversely, in a buyer's market, where supply outpaces demand, sales tend to take longer. Given that our properties are singular they tend not to follow the market unlike, for example, apartments on the coast where there are plenty of similar examples and the state of the overall market is key.
Economic situation
The broader economic climate plays a significant role. Periods of instability, particularly when interest rates are high, can dissuade buyers from investing as accessing finance becomes more challenging. This can slow the sales process.
Property location
Location is a critical factor. Homes in areas where demand is consistent sell much quicker.
Condition of the property
A well-maintained and ready-to-move-in property will generally sell faster than one requiring renovation. Similarly, furnished homes or those staged to appeal to buyers tend to perform better.
Price
The asking price is a decisive factor. Setting a price that aligns with the market is crucial. Overpricing a property is a sure way for the property to hang around and remain unsold for long periods.
Advertising
Effective marketing strategies are indispensable for reaching potential buyers, generating interest, and securing viewings. Our websites, the international portals we advertise on and our social media channels play a significant role in accelerating the process.
Improvements
When selling country properties in Andalucía, targeted refurbishments can greatly enhance appeal and speed up the process:
- Landscaping and outdoor areas: Ensure gardens are well-maintained and paths are clear. Consider adding features like shaded terraces, pergolas, or outdoor dining areas, which are highly desirable in rural Andalucía.
- Swimming pool upgrades: If your property has a pool, ensure it is clean and in good condition. Adding a pool cover or energy-efficient filtration system is also a plus. Always take good photos of your pool in summer. If you market your property in winter, we won’t be able to photograph the pool at its best.
- Energy efficiency: Some buyers will be concerned about energy costs. Installing solar panels and upgrading insulation or replacing old windows with double glazing will make the property more energy-efficient.
- Traditional features: Emphasise the property’s Andalucían charm. Repair and clean up traditional elements such as wooden beams, terracotta floors, or stone walls to highlight their character.
- Modern conveniences: Ensure essential features such as reliable plumbing, electricity, heating, air conditioning and internet access are maintained and function correctly.
- Tidiness: A tidy home has so much more appeal than an untidy one. Mess signals a lack of care which may extend beyond the obvious and give concern about more serious problems.
In short, the better a property looks, the quicker it will sell.