Are you wondering: how long does it take to sell a house? If so, you should click here and take a look at our informative guide.
In 2019, done 5 million existing homes for sale in the United States.
If you’re looking to sell your home in 2020, you’ll face plenty of competition. No one wants their house to remain on the market for an extended period of time, but there’s nothing you can do about that, right? Wrong!
Are you wondering: how long does it take to sell a house? If so, keep reading to find out how long it will take for your home to sell and how you can speed up the process!
Average Time in the Housing Market
How long does it generally take to sell a house? The average time a home is on the market is between 46 to 55 days.
While this may not seem to be long if you used the sale of your home to fund your new home purchase, it can feel like an eternity. Or, if you have bought your new home, this could mean your two months average of paying two mortgages.
Also, remember that this time averaging only starts after the home is officially registered. This does not include the time you might spend getting your house ready for listing or finding the right realtor to work with.
Best Time of Year to Sell
If you are considering selling your home, you may want to first research the best time of year to sell. The time of year is among the biggest factors in how quickly a home will sell.
The best time of year to sell a home is in the spring, so March, April or May. These months not only mean your home may sell faster, but sellers earn as well $1,600 more from the sale of their house during these months.
What occur? Think about it: nobody wants to move into a new house when there’s snow on the ground.
Spring is taken into account to be the start of a new year, the perfect time to buy a new home.
So if possible, you should aim to list your home during March, April or May.
Factors That Will Accelerate Sales
Regardless of the market or time of year, there are specific things that cause some homes to sell faster than others. Below are three things to bear in mind when sell your house.
Low Ask Price
It may seem counterproductive, but listing your home at a cheaper price can lead to a quicker sale. When people look at housing listings, the price of the home is the very first thing they see.
But when most people price their home, they’re pricing it higher than they would like in the event of a negotiation. Instead, try to price your home at your lowest dollar limit.
With this tactic, you can avoid a lengthy negotiation process and instead, quickly pocket a sales check.
If a fast sale is important to you, it may be worth the lower profits.
Great Location
While you cannot change the location of your home, remember that two identical homes will sell for various prices because of their location.
A house in a well-kept neighborhood with a low crime rate and a good school system is sufficient to get a buyer to make an offer.
So be sure you market your home location accordingly. In the list, point out the positives of the location and list how far it’s from local landmarks.
Good Staging and Marketing
Something that many people forget to do is organize their home properly.
Be sure to remove clutter and private items before taking pictures or showing your home. An attractive open house will attract more attention than an unkempt home. Consider renting a storage unit while selling your home to actually show it off.
Also, be sure you and your realtor are effectively marketing your home. The more eyes you get from the listing up front, the better chance you have of getting a sale.
Factors That Will Slow Down Sales
Now that you know what can accelerate sales, you also need to know what factors can have the opposite effect. Below are two of the main things that might stand in the way of you and selling your home.
High Ask Price
Just as a low asking price can speed up sales, a high asking price can slow sales down. You never know when a potential buyer avoids looking at your home because it is out of their budget.
Instead, be realistic when listing your home. Look at similar homes for sale in your area and price accordingly.
Houses that aren’t ready for occupancy
Many buyers have an interest in homes that are ready for habitation. Look around your home and consider what features of the home would stop someone from moving in right away.
Be sure to complete any home renovation projects you have been putting off. You may additionally consider selling your home with the included equipment. Lastly, a fresh coat of paint goes a long way in making a home look ready to live in.
So How Long Does it Take to Sell a Home?
There is no magic answer to the question, “how long does it take to sell a house?” Instead, there are various variables involved in the equation that can help your home sell quickly or stay on the market.
To speed up the sale, pay attention to the time of year you aim to sell your home. From there, you can price your home appropriately for a fast sale. And at all times ensure your home is attractively staged and you or your realtor markets it efficiently.
Want to learn more about the buying and selling process before you list your home? Visit the Real Estate section of this site for all the best tips and tricks.
