Wednesday, January 11, 2023 / by Michael Szakos
4 Factors That Can Impact How Long It Takes to Sell Your Home
When it comes to selling your home, you want to get the best price and the quickest sale possible. However, the reality is that the process can take longer than you might expect. According to statistics based on the National average, about 40% of homes sell within the first month of being on the market. Houses that don't sell in the first month often remain on the market for months and months and often don't sell until significant price adjustments have been made.
So, what factors can impact how long it takes for your home to sell? Here are four of the most significant:
- Market conditions: The state of the housing market in your area can play a big role in how quickly your home sells. In a hot market, with high demand and low inventory, your home is more likely to sell quickly. In a slower market, with more homes for sale and fewer buyers, it may take longer to find a buyer.
- The condition of your home: The condition of your home can also affect how long it takes to sell. If your home is in good repair and has been well-maintained, it is more likely to appeal to potential buyers and sell more quickly. On the other hand, if your home needs significant repairs or updates, it may take longer to find a buyer willing to take on those projects.
- Location: The location of your home can be a big factor in how quickly it sells. Homes in desirable neighborhoods, with good schools and convenient amenities, are more likely to sell quickly. Homes in less desirable locations, or those that are far from city centers or major employers, may take longer to sell.
- Price: Finally, the price of your home can impact how long it takes to sell. If you price your home too high, it may take longer to find a buyer willing to pay that much. On the other hand, if you price your home competitively, you may be able to attract more buyers and sell more quickly.
If you're considering selling your home, it's important to understand these factors and how they may impact the process. By providing your address and a brief description of your home, you can conduct a comparative market analysis to search the database for similar homes listed or sold in your area. With this current market data, you'll be able to determine what your home might sell for and how long it may take to sell if you decide to put it on the market. There is no cost or obligation for this valuable service. Simply go to this link and provide the information needed and we will send you the report.