In May 2021, the average amount of time a house spent on the market was only 6 days. However, that doesn’t necessarily mean that you should expect selling a house to go that quickly.
The truth is that the length of the home selling process varies by days, weeks, or even months, based on a number of different factors.
So, what kind of timeline can you expect when selling a home? We’re here to help.
Keep reading to learn more about the different factors that impact the length of the home selling process.
Location
You know how the old real estate saying goes: it’s all about location, location, location. Where your home is located will impact how quickly it sells. If you’re moving out of an up-and-coming neighborhood, then your house will likely sell faster than it would in a rundown, older area.
Take a look at homes that are currently on the market in your area. You can usually see how long they’ve been listed, which will give you a good idea of what you might expect when you list your home.
House Condition
Another thing that will impact how long your home sits on the market is the condition it’s in. Take a walk around your house, trying to view it as a potential buyer might. Look at it with a critical eye to see if there’s anything that might turn off buyers.
Most buyers want a move-in-ready house, so consider taking the time to make repairs around your home so it appeals to more people.
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Depending on the upgrades you do, you might be able to sell it for more money, so it’s a win-win!
If you want to sell your house fast regardless of condition, consider looking for a company that will buy houses for cash, as those transactions usually close quickly.
Asking Price
Ultimately, if you’re asking too much for your home, you can expect it to sit on the market for a while. Of course, you also don’t want to sell it for too little. So, how do you price it correctly?
If you’re working with a real estate agent, they can help you determine an appropriate asking price, based on your local market. Otherwise, you should look at local comparable houses that have recently sold and use that information as a guide when pricing your home.
Since most buyers set filters when searching for homes online, here’s a tip to get more eyes on your listing. Try listing your home just under the pricing threshold that you want. For example, if you want to sell your home for $500,000, list it for $499,000 instead, so it will show up in results for homes under $500,000.
Marketing
Finally, your home isn’t going to sell quickly if people can’t find it. Whether you’re working with a real estate agent or selling your home by yourself, the more marketing efforts you do, the faster it will sell.
Make sure you have a “for sale” sign outside your home and post about it online so potential buyers can find it.
The Home Selling Process Varies
After reading through this quick guide, you should have a better idea of the factors that most impact the timeline of the home selling process. Keep the tips we mentioned in mind when you put your home on the market to help it sell quickly.
Want to read more like this? Look through our other articles before you go.