Ural Chamber of Real Estate: Yekaterinburg homes take up to five months to sell

17 March 2015 (09:19)

March 17,2015. It now takes an average of five months to sell an apartment on Yekaterinburg existing homes market; some places don’t get sold for a year, says head of Ural Chamber of Real Estate’s Analytical Department Mikhail Khorkov.

‘Quite a few sellers tend to overestimate their offer’s actual worth and set the market’s highest asking price from the start. In most cases, this results in the seller having to reduce their prices,’ Khorkov said.

This was the case for about 18% of apartments offered for sale via the Chamber’s database in February 2015. Under 3% of property owners decided to increase their asking prices.

According to Khorkov, an unjustifiably high price is a risk of missing good opportunities and having to end up with much worse deals.

Other materials on the topic::