That is THE QUESTION, isn't it! There are three main factors that affect a property's time on the market: location, condition, and price.
There are several additional factors that can affect the speed of a sale including:
Is there a surplus of homes for sale in your area? Are technology tools and networking resources being utilized to market your property? Are your closing terms favorable to buyers? The right REALTOR® will be able to coach you in dealing with each of these things to ensure the quickest possible sale.
Unfortunately, there is no magic time frame when it comes to selling real estate. Some properties sell before a sign hits the front yard, and others may sit for months before the first offer comes in. Your REALTOR® can provide you with the average days on the market for properties that have recently sold in your neighborhood; however it is important to remember that the variables affecting this data are not detailed in these comparables. Your REALTOR® will most likely have viewed a majority of the properties included in the comparables and can give you a better idea of why a specific property sold in the time frame recorded.
Do not to get discouraged if a sale takes longer than you anticipated. Instead, try to analyze the reasons your property is not selling and ask your REALTOR® what you can do to facilitate the process.
This information is meant as a guide. Although deemed reliable, information may not be accurate for your specific market or property type. Please consult a REALTOR® professional for more information on selling your individual property.
Contact us now to sell your home, one of our agents will reach out right away!