Why So Many Burnley Homeowners Haven’t Managed to Move - And How to Avoid the Same Mistake
Over the past few years, we've noticed a clear pattern across the Burnley property market: thousands of homeowners have tried to move, yet never managed to sell, not because of a lack of demand, but because of one common mistake that keeps repeating itself.
Since 2020, 4,518 Burnley homeowners have tried to sell and move - yet never did.
Not because their homes weren't good enough, but because they were overvalued from the start.
The Data Behind the Frustration
To understand how this has unfolded, let us look at what has actually happened across Burnley (BB10, BB11 and BB12) since 2020.
Before I start, a property sale is only legally binding when the home's exchange and completion is finalised. Only then can the homeowner move. Therefore, I will only look at that.
• Of the 1,923 Burnley properties that left estate agents' books in 2020, 64.0% exchanged and completed. The other 36.0% of homeowners, a total of 692 homes, withdrew from the market unsold.
• Of the 2,442 Burnley properties that left estate agents' books in 2021, 69.7% exchanged and completed. The other 24.9% of homeowners, a total of 609 homes, withdrew from the market unsold.
• Of the 2,475 Burnley properties that left estate agents' books in 2022, 69.7% exchanged and completed. The other 30.3% of homeowners, a total of 749 homes, withdrew from the market unsold.
• Of the 2,401 Burnley properties that left estate agents' books in 2023, 61.6% exchanged and completed. The other 38.4% of homeowners, a total of 923 homes, withdrew from the market unsold.
• Of the 2,494 Burnley properties that left estate agents' books in 2024, 61.5% exchanged and completed. The other 38.5% of homeowners, a total of 960 homes, withdrew from the market unsold.
• Of the 1,740 Burnley properties that left estate agents' books in 2025 (so far), 66.4% exchanged and completed. The other 33.6% of homeowners, a total of 585 homes, withdrew from the market unsold.
Why Overvaluing Happens
When an estate agent visits your home, the valuation conversation can feel like a performance. You might hear one agent suggest £150,000, another £175,000, and then someone confidently says £200,000 without hesitation. It is flattering. It is exciting. It is often a trap.
Some Burnley agents know precisely what number will win the instruction. They do not need to sell the home straight away; they only need to list it. In many cases, sellers are tied into sole agency contracts lasting 20 to 26 weeks, during which the price is quietly reduced until it reaches reality.
By that time, the most motivated buyers have already dismissed it.
The Cost of Overvaluing in Burnley
When a home is priced too high, it stays on the market longer than it should. Buyers start to wonder what's wrong with it, and even after a price reduction, it struggles to regain interest.
Independent research from Denton House and TwentyEA shows how timing makes all the difference:
41.8% of UK homes go under offer within 28 days, and 70.9% within 63 days.
Homes that sell within 25 days have a 94% chance of completing, but once a property takes over 100 days to find a buyer, that success rate drops to just 56%.
So, overvaluing doesn't just waste months - it dramatically reduces your chances of moving.
How the Burnley Market Has Shifted
During the boom of 2020–21, record demand and low interest rates meant almost anything would sell. That created unrealistic expectations that still linger today.
Since mid-2022, the market has normalised. The average home now sells for 98.6% of its final asking price, compared to nearly 102% during the pandemic - a £17,000 difference on a £500,000 property.
Overvaluing only widens that gap and delays your move.
Why It Keeps Happening
So why do some agents still overvalue?
Because their focus is on winning listings, not selling homes. Many large agencies measure success by how many boards they put up, not how many completions they achieve. It's easier to tell a homeowner what they want to hear than to offer honest advice - and that leaves sellers paying the price in wasted time and missed opportunities.
How to Avoid the Trap
Seek multiple valuations – Get at least two or three and ask for evidence behind each figure.
Look at sold data, not asking prices – Focus on what homes actually sell for.
Watch market indicators – If fewer than 30% of local listings are marked “Sold STC,” buyers currently have the upper hand.
Choose honesty over flattery – Work with an agent who values trust, transparency, and completion rates over long tie-ins or inflated promises.
The Truth About Overvaluing
It might feel harmless or even clever to start high, but overvaluing costs time, money, and momentum.
Since January 2020, 8,957 Burnley homeowners have sold and moved, while 4,518 have withdrawn unsold - most due to unrealistic pricing. These aren’t failed homes. They're frustrated sellers who deserved better advice from the start.
At Pendle Hill Properties, we've seen too many local homeowners fall into this trap - promised inflated valuations, tied to unrealistic pricing, and left disappointed when the market didn’t respond.
That's why we created our Members Club - a smarter, data-led way to sell with confidence and success.
The Hidden Cost of Overvaluing
When an agent flatters you with a high valuation, it feels good - until the viewings slow, the feedback turns cold, and the price has to be dropped publicly.
By that stage, your home has lost its early momentum, and your negotiating power withers.
Overvaluing doesn't just delay your move. It damages your property's perception and often means you achieve less in the end.
The Pendle Hill Properties Difference
We don't rely on inflated numbers or long contracts.
We rely on honesty, strategy, and preparation - helping you make informed decisions every step of the way.
Through our Members Club, Burnley homeowners gain unique advantages that protect them from the risks of overvaluing.
🏠 Pre-Market Launch
Before your home goes live on the open market, we introduce it privately through our Members Club.
This allows us to test pricing at the higher end without any public exposure or risk of later price reductions.
You get genuine feedback from the market, so when you launch, your price is powerful - not speculative.
📊 Evidence-Based Valuations
Every recommendation we make is grounded in real data from sold properties in Burnley, not guesswork or wishful thinking.
We combine this insight with years of local expertise to strike the perfect balance between ambition and realism.
🤝 Ongoing Strategy & Support
We don't just list your property and disappear.
Our team continually monitors the market, reviews performance, and refines your selling strategy as conditions evolve - ensuring you stay one step ahead and always in control.
Why Our Members Club Works
Our Members Club gives you a private, low-pressure environment to prepare and position your home correctly before going live.
It helps you:
- Explore higher pricing privately and strategically.
- Avoid public price drops and the stigma of “reduced” listings.
- Launch with full confidence, backed by real market data.
This approach has already helped many Burnley homeowners move smoothly, profitably, and without stress.
The Bottom Line
Since 2020, thousands of Burnley homes have been listed and withdrawn unsold - not because of poor marketing, but because of poor pricing.
At Pendle Hill Properties, our focus is simple: Realistic advice. Proven strategy. Genuine results.
If you are thinking about selling and want an honest, evidence-based opinion on your Burnley home's actual market value, with no fluff, no bull, no pressure, and no nonsense, I would be delighted to help.
Get in touch today on 01282 772048!
