How Long Do Most Homes Take to Sell?
Listing your home may seem intimidating if you’re not sure what to expect or if you need to sell fast. If you’re the latter, you’ll need an understanding on how long it may take to sell a home.
There are factors about the current market that can dictate the average time it takes to sell and other things about the selling process. In this article, we’ll tell you about some of those factors and give some tips on how to sell your home quickly.
Factors That Determine How Long It Takes to Sell
Not all home selling conditions are created equal. There are a number of factors that will impact the rate at which homes are selling. It’s important that you pay attention to these items when making decisions regarding listing a home on the market.
Location, Location, Location
Location is one of the most important contributing factors that influences how fast or how slow a home will sell. You’ll need to take a look at the current real estate market and trends in your area. For example, rural homes tend to sell slower than those in urban or suburban areas.
Looking at the average days on market for your area is a great idea as well. You can get this by doing some quick research online or consulting a local real estate agent.
It’s no secret that when demand is high or inventory is low, homes will sell quicker. On the other hand, if demand is low or inventory is high, homes may sell slower. Again, you’ll need to look at your local real estate market and see what the demand and inventory looks like in your current market to understand how relatively quickly your home may sell.
Market Conditions
As we mentioned earlier, it’s so important to understand and know current market conditions. What is the real estate market looking like at the time of selling your home? This will play a big role in how quickly a home will sell and give you a general idea on what you should prepare for.
The Current Market and Average Time It’s Taking to Sell a Home
Recent reports show that inventory increased by a whopping 41% and homes stayed on the market for an average of 35 days in July 2022. This data shows that homes are still selling relatively fast, although inventory is rising, which could signify a longer average selling time is on the horizon.
Tips for Selling a Home Quickly
If you want to sell your home faster, follow these simple tips.
Work With a Local Agent
Hire an experienced real estate agent. You’ll want to work with someone who knows the market pretty well to make accurate judgements on selling the home.
Keep Your Home Clean
A dirty or cluttered house may quickly turn buyers off. Make sure you keep it clean the entire time it’s on the market.
If your home looks outdated, it might take longer to sell. Making necessary updates to even the smallest items in the house may sway a buyer.
Set the right price. An unrealistic listing price will discourage buyers from biting. Work with an experience agent to list at a price relative to the current market.
Work With EmpowerHome Team
Selling your home doesn’t need to be a long and painful experience. If you’re considering listing your house and want more information from an experienced agent on your current market conditions, EmpowerHome Team is here to help. Contact us today for your free consultation.
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