What a slower property market means for sellers in Devon
If you're in the market to buy or sell a home, you may have noticed that the housing market in the South West has cooled over the past year. Homes are still selling, but it’s taking longer, and sellers aren’t seeing the same rush of offers that appeared during the post-lockdown boom. Higher mortgage rates and fewer people relocating from big cities mean buyers are being more cautious, and many are waiting to see what happens next.
So what does this mean for sellers across Devon? Essentially it means timing and strategy matter more than before. When the property market feels slow and unpredictable, you really need to think about what you need from the sale - that means looking at your motivation and prioritising what's important to you. Is it important that you get a quick sale for example, or is getting the best price the thing?
People do still want to move to Devon
Just not as quickly! The South West is always going to be popular because of its coast, countryside and slower pace of life. That hasn’t changed and isn't about to any time soon.
What has changed though is people’s ability to move quickly. While would-be movers are still interested in relocating, higher borrowing costs and uncertainty about the economy mean fewer are ready to commit straight away.
The market also feels more seasonal in Devon. Activity tends to pick up in spring and summer, or around school terms, rather than being steady throughout the year. This can make selling feel stop-start, with quiet patches in between bursts of interest.
Finding the right buyer when time matters
Some homeowners don’t have time to wait for the ideal offer. That might be because of a job move, a relationship change, a property sitting empty, or simply the stress of a long chain. In these situations, the priority is finding motivated buyers for homes, not just listing and hoping interest builds.
This is where cash buying companies like Sold can help. They can give you a free offer in minutes and then if you decide it's the right option for you, you get to set the timelines, with no hidden fees. It's about taking back control of the process and can feel incredibly liberating.
Being prepared with more than one option
The next year is likely to remain unpredictable, so sellers in Devon are definitely going to benefit from having a bit more of a flexible approach. For some, the traditional market will still work well - some people love the idea of using a high street estate agent and are prepared to sit tight until they get an offer.
For others, a quicker sale or a guaranteed completion date might remove a lot of stress and could mean that you can start a new job or new school on time, happily settled in your new home.
The key is having more than one route available, depending on what life requires at the time, so keep an open mind!
