Selling a home is about more than putting up a For Sale sign and waiting for the right buyer to come along. In a changing property market, setting the right asking price from the outset can make a significant difference to how quickly your property sells and how much you ultimately receive.
South Africa’s residential property market continues to show resilience, but the latest figures reveal an important distinction: homes are selling faster, yet many sellers are still accepting offers below their original asking prices.
According to FNB’s third-quarter 2026 Estate Agent Survey, approximately 75% of property transactions took place below asking price. At the same time, the average time a property spent on the market improved to ten weeks and one day, the fastest selling pace recorded since 2022. Annual house-price growth moderated to 4.9% in August 2026.
What does this mean if you are thinking of selling your home?
1. Your asking price is not necessarily your selling price
It is natural to place a high value on your home. After all, it represents years of memories, maintenance and investment. However, buyers assess a property according to their budgets, current market conditions and the alternatives available to them.
An asking price should therefore reflect what buyers are realistically prepared and able to pay, rather than simply what the seller hopes to receive.
The FNB survey found that around three-quarters of transactions concluded below asking price, with the average discount reported at approximately 8%. This highlights the importance of understanding the difference between the advertised price and the price ultimately achieved.
A realistic asking price does not mean underselling your property. It means positioning it competitively to attract serious buyers and encourage meaningful offers.
2. Why the first few weeks matter
When a property first enters the market, it attracts attention from buyers who have been actively searching and those who may be waiting for a suitable home to become available.
If the asking price is too high, potential buyers may overlook the listing in favour of comparable properties that offer better value. As the weeks pass without a serious offer, sellers may find themselves reducing the price to generate renewed interest.
Pricing correctly from the beginning can help your property compete more effectively and may reduce the need for repeated price adjustments.
Although every property and area is different, current market data suggests that well-positioned homes can still attract buyers in a relatively short period.
3. The Western Cape market tells an interesting story
Property conditions vary considerably across South Africa, and national statistics do not necessarily reflect what is happening in your neighbourhood.
FNB’s latest survey indicates that properties in the Western Cape are selling considerably faster than those in other major provinces. The average time on the market in the province was approximately four weeks and six days, compared with more than 12 weeks in Gauteng.
However, a faster-moving market does not mean that every property will sell quickly or achieve its asking price.
Location, property condition, affordability, competition and the availability of similar homes all influence buyer behaviour. Even in areas where demand is strong, an unrealistic asking price can discourage potential purchasers.
For sellers, the most useful information is therefore local market evidence rather than national averages alone.
4. How do you determine the right asking price?
Before putting your property on the market, it is worth obtaining a market-related valuation or comparative market assessment from an experienced estate agent.
This should consider:
Recent comparable sales: What have similar properties in your area actually sold for?
Competing listings: What are buyers currently able to choose from in your price range?
Location: How do factors such as schools, transport, amenities, security and neighbourhood appeal influence demand?
Condition and features: How does your property’s condition, size, layout and finish compare with similar homes?
Current buyer demand: Are buyers actively purchasing properties in your price bracket, or are they negotiating more aggressively?
Remember that an advertised property price is not proof of its market value. Recent completed sales generally provide a more useful indication of what buyers are willing to pay.
It is also worth asking your estate agent to explain the evidence behind their recommended asking price, rather than simply choosing the highest suggested valuation.
5. Should you accept an offer below asking price?
Receiving an offer below your asking price can be disappointing, but it does not necessarily mean that you should reject it.
Instead, consider the offer in the context of the current market, your financial commitments and your plans for the future.
The offer price is only one consideration. You should also assess whether the buyer requires bond approval, whether the offer is conditional on selling another property, the proposed transfer and occupation dates, and any other conditions that could affect the transaction.
A slightly lower offer from a financially prepared buyer may be worth considering alongside a higher offer with significant conditions or uncertainty.
6. What if your property is not selling?
If your home has been on the market for some time without attracting suitable offers, it may be worth reviewing your strategy.
Start by considering buyer feedback, the number of enquiries and viewings, the performance of your listing and the prices of competing properties.
Ask your estate agent whether the asking price remains appropriate in light of recent sales and current demand. You may also want to consider whether minor repairs, improved presentation or better-quality listing photographs could make your property more appealing.
A price reduction should be based on evidence rather than guesswork. The aim is to identify what may be preventing buyers from making an offer and address it in a considered way.
7. Plan your next move before accepting an offer
For many homeowners, selling a property is closely linked to purchasing another home, relocating or managing other financial commitments.
Before accepting an offer, make sure you understand the financial implications and the likely timeline for transfer. If your next purchase depends on the proceeds of your sale, careful planning is particularly important.
Your estate agent and conveyancing attorney can help you understand the transaction process, the conditions in your offer to purchase and the steps required before registration of transfer.
Having a clear plan can help you make informed decisions and avoid committing to your next move before you understand your financial position.
The right price starts with the right advice
The current property market offers opportunities for sellers, but success depends on understanding local conditions and setting realistic expectations.
While a higher asking price may seem attractive, a well-informed pricing strategy can help you attract serious buyers, negotiate confidently and avoid unnecessary delays.
Thinking of selling your home? Contact an experienced estate agent for a market-related assessment and speak to ESI Attorneys about the conveyancing process. With the right advice and preparation, you can approach your next property transaction with greater confidence.
Disclaimer: While every reasonable effort is made to ensure the accuracy of the information in this publication, it is intended for general informational purposes only and does not constitute legal, financial or property valuation advice. Market conditions and property values vary by location and may change. Readers should obtain advice relevant to their individual circumstances.