Thinking of selling your Lancaster home? It’s tempting to push for a higher asking price — after all, it’s your biggest tax-free asset. A few extra thousand sounds like a win, doesn’t it?
But here’s the truth: in property, chasing too much often means losing out completely.
Since the start of 2020, 3,388 Lancaster homes came to market… and never sold. Many of them were withdrawn in frustration, overpriced from the start. This isn’t just bad luck — it’s a warning.
Let’s talk honestly about overvaluing, why it happens, and how you can avoid becoming the next statistic.
The Price Trap: When Temptation Backfires
When you invite estate agents to value your home, you’ll often hear different figures. One might suggest £285,000. Another says £300,000. Then someone walks in with £325,000 — confident, bold, and full of promises.
It feels great. But often, it’s a trap.
Some agents know the number that will win your instruction — whether or not it reflects market reality. They’re not focused on selling your home quickly. They just want it on their books, often tying you into long sole agency contracts for 20–26 weeks.
Meanwhile, your perfect buyer scrolls past your home, thinking it’s overpriced — and never comes back.
Lancaster’s Numbers Don’t Lie
Let’s look at the data for Lancaster homes taken off the market (LA1 & LA2 postcodes):
- 2020: 832 homes didn’t sell (44.5%)
- 2021: 511 didn’t sell (26.6%)
- 2022: 378 didn’t sell (24.4%)
- 2023: 624 didn’t sell (38.6%)
- 2024: 716 didn’t sell (40.3%)
- 2025 YTD: 327 didn’t sell (41.9%)
In total, that’s 3,388 homes since January 2020 that were listed in Lancaster but didn’t sell. Most were simply overpriced.
This is not a coincidence. It’s a pattern.
The Real Cost of Overpricing
Homes that sit on the market too long go stale. Buyers start to wonder what’s wrong. Even when the price is eventually reduced, the damage is often already done — newer listings look fresher, even if your home is better.
Worse still, many homes that were initially overpriced end up selling for less than if they’d been correctly priced from day one. That’s a painful lesson to learn.
And If You Do Get an Offer…
Let’s say you eventually find a buyer after three or four months. That long wait has consequences.
According to Denton House Research and TwentyEA:
- Homes that go under offer within 25 days have a 94% chance of reaching completion.
- Homes that take 100+ days drop to a 56% chance of completing.
That delay can cost you your dream move. The message? Price it right the first time.
So Why Do Some Lancaster Agents Still Overvalue?
It often comes down to pressure. Some larger or corporate agents reward staff for signing up properties — not for actually selling them.
The result? Homes are listed high to win instructions, then gradually chipped down. The agent hits their target. The homeowner is left frustrated.
It’s a broken system — and it’s hurting local sellers.
How Lancaster Homeowners Can Avoid the Overpricing Trap
1. Get multiple opinions
Invite a few agents around. If one figure seems too good to be true, ask for proof — sold data, not guesses. Ask what percentage of homes they list actually sell and complete.
2. Do your homework
Check what similar homes have sold for, not what they’re listed at now. Over the last two years, homes in Lancaster sold for between 98.7% and 99.1% of the asking price at the time of offer. Not the original overinflated price — the realistic one.
3. Know the market
Lancaster prices rose fast in 2021, but things have changed. Check the portals — how many homes like yours are sold STC versus still available? If over 40% are Sold STC, it’s a seller’s market. If it’s under 30%, buyers have the upper hand.
4. Choose the right agent
A good agent won’t flatter you with false hope. They’ll back up their valuation with facts and focus on one thing: getting you moved. Watch out for long contracts and vague promises.
Don’t Fall for the Fantasy Figure
Overvaluing your home might feel like a harmless gamble — but it’s not. It can leave your property sitting for months, your plans on hold, and your finances stretched.
This is about more than just numbers — it’s about helping Lancaster homeowners move on with their lives.
You only get one chance to make the right impression. Price it right and you’ll attract serious buyers, quickly and confidently.
Thinking of Selling in Lancaster?
If you’d like an honest, evidence-based opinion on your home’s value — with no fluff, no pressure, and absolutely no nonsense — I’d love to help. Call us on 01524 843322 or email me at michelle@jdg.co.uk
Let’s do this the right way.
Michelle
