Calculating the Average Days of Market
The average days on the market in their area is something that most real estate agents are familiar with. All you need to do is ask. You can calculate this number by simply calculating the date each house goes on the market within a given month and then adding up the days pending. Add all the houses and divide it by the number. Real Big Group merge technology with a personal touch to give our customers the highest quality of services.
What makes a house sell quickly?
Sometimes, there is no reason to delay selling a house. You may have luck and find the right buyer at the right moment. Or, it could be due to one of the factors listed below.
How much competition is there?
Seller’s markets are more likely to see homes sell quickly if there is less inventory and high buyer demand. This can increase competition and push up prices.
Here’s an example: Redfin submitted more than 71% in August. There was fierce competition. These bidding wars resulted in homes being sold in 24 days, and for a 3% increase over the listing price.
The Condition of Your Home
A home in good condition will sell more quickly than one that is damaged or cluttered. Buyers must be able to envision how they will live in the house. If it looks like it belongs to them or is in disarray, they won’t be able to do that.
Clearing half of the furniture is a quick way to solve this problem. Large furniture can make a space seem smaller and overwhelm it. It might be a good idea to hide family photos on the walls.
Seasonal Factors
The time you list your house can have an impact on the days it takes to sell. The majority of people don’t look to purchase a home in winter. However, the weather can play a role in certain areas. The slowest months for home sellers are generally November, December and January.
These months are also less profitable. Research has shown that home prices are at their lowest in the fourth quarter.
Your agent
The speed of your home sale can be affected if you have chosen to list it with a real estate agent. The speed at which a buyer is found and the price they pay can be affected by your agent’s market experience, marketing strategies, and market knowledge.
Although the average agent has nine years experience and some college education, not all agents are equal. Before you decide who to list your property, make sure that you interview several agents.
What can I do to quickly sell my house?
The market conditions and timing are key factors in the speed at which your house sells. You can speed up the selling process by being smart about how you price your home and market it. If you are looking to increase your chances of selling your home, staging it well and taking photos will help. Also, pricing your property at or below market value will attract more buyers. You will be more competitive if your home is in good condition and you have done the necessary repairs and improvements.