How Long Will it Take to Sell My Home?

Whether you’re upsizing, downsizing, or relocating out of state, homeowners will inevitably need to sell their home. Regardless of your situation, two key questions will always arise: What’s the selling price? How long will it take to sell?

Market Conditions

Real estate professionals employ various methods to estimate a property’s market duration. A significant approach involves analyzing recent sales of similar properties in the area, particularly focusing on their “days on the market.” Understanding past trends helps predict future outcomes, providing insights into your own home’s potential selling timeframe, and assuming similarity and recency of sales data. Your Realtor can access this information through their MLS association.

Market conditions, notably supply and demand, also impact selling duration. In a buyer’s market with a high monthly supply, listings may linger longer compared to a seller’s market with fewer options available.

Furthermore, seasonality influences property sales. Typically, activity peaks in spring and summer, gradually decreasing in fall, with the lowest number of closings occurring during winter.

Condition of Your Home

Among various factors, minimizing the post-move tasks for buyers improves your home’s marketability. Simple improvements like a fresh coat of paint, clean carpets, and enhanced curb appeal can significantly reduce your home’s time on the market. If competing homes have similar prices but yours presents better, it’s likely to sell faster.

Staging your home has shown to expedite sales by 88% compared to non-staged homes. Professional stagers and abundant resources offer guidance, focusing on decluttering, depersonalizing, and creating a cohesive flow throughout the home.

Pricing

Correctly pricing your home is essential for a timely sale. Overpriced properties may deter potential buyers, while those priced at or near fair market value typically attract suitable interest. Pricing slightly below market value could lead to multiple offers and competitive bidding. Your Realtor utilizes various methods to accurately price your property and serves as an invaluable resource in this process.