Understanding how long it takes to sell a house

Real-Estate

When selling your own property, one of the questions you ask yourself is, how long will it take to sell my house? An overpriced house will take longer to sell compared to a well-priced house.

When selling your own property, one of the questions you ask yourself is, how long will it take to sell my house? An overpriced house will take longer to sell compared to a well-priced house. And in some cases, it is impossible to sell an overpriced house unless you reduce the price. On average, homes took 68 days to sell in 2018. This is according to Zillow.


 

Calculating the average days on market

If you are an experienced home seller, you might know the average days it takes to sell a house in your neighborhoods. However, you can calculate the average time it takes to sell a house by figuring out the day each house goes on the market in a given month and then counting the days to determine the number. You should then add the days together and divide with the number of homes.


 

How to make a house sell quickly

In some cases, there is no logical explanation for how long it will take to sell a home. It can happen fast or it could take longer. Your home might come on the market the same day a buyer is looking to buy exactly the same home you are offering for sale. However, selling a home quickly depends on a lot of factors:


 

Your selling price

Some people will price their house a little under the market value of the house to entice offers. This is one of the common tips for selling your house and pushing the prices higher because when more than one buyer offers to buy your house, it drives up the value of the home due to competition. The price range makes a lot of difference. Houses in lower price ranges sell faster than houses in higher price ranges because there are more buyers.


 

Location

There will be more demand for houses located in highly desired places near excellent schools and other social amenities than houses that are located on the wrong side of the tracks near a smelly dumpsite. Houses that front the freeway come with a set of challenges. People who own such homes have become oblivious to the location because they have adjusted to the view and noise. However, new buyers might be turned off by such situations.


 

The condition of the home

Houses that shine and sparkle sell faster than those that are cluttered and need repairs. Buyers have to be able to imagine how they will live in the house. They will have a difficult time doing that if the house is in a mess or looks like it belongs to you. Make sure you clear out the furniture and do professional home staging to sell the house faster.


 

The temperature in the market

When selling your own property, you should try and sell it in a seller’s market because buyers are more than sellers. This will increase the completion among home buyers. However, if you are in a hurry to sell your home then you can rely on the above factors to sell it faster.