Tuesday 4 September 2018

How long does it take to sell a house?

Naturally, when you put your house up for sale in the open market, there is no guarantee on how long it will take to sell, but typically it shouldn't take longer than about 40 days.  Maybe less, depending on current market conditions for your area.

If you'd like to know what the average is for your neighbourhood, drop me an email and I'd be happy to let you know.

One reason why it is good to know the average time for your area is that you can guage the performance of your listing.  If you've been up longer than the average time with no sale, you might want to consider why.  It could be because your price is too high.

Generally speaking, buyers are going to look at the price, condition, and area.  You can't change the property location of course, so if you can't upgrade condition in any way, then the price has to be in accordance with condition and location.  If you hold out for a higher price than the local market has been delivering, then you might find yourself waiting significantly longer than you should.

Of course, not selling in an average amount of time does not automatically mean that you are over-priced.  Some properties are just more difficult to sell, with a lower number of buyers willing or interested.  One and two bedroom homes or properties with no basement would be a couple examples of property types that can take longer than usual.

As always, make sure you are working with a REALTOR® you trust, both for honesty and competence, and consult with them on an ongoing basis in regards to pricing and property preparation.

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