When estimating how long it will take to sell, we usually look at three main factors: the condition of your home, its location, and the price to value ratio.  Each of these factors are not seprate, each one interplays with the others.

The Real Estate Market

To put it simply, the overall Real Estate Market sets the limits on what is and is not possible.

For example, in the super hectic days of 2021 and 2022, when 20 to 40 offers were common on one house within the first week, the expectations were that the house will sell above the asking price as long as it was within $20,000 to $40,000 of comparables.  MANY agents left tens of thousands on the table for their clients by not understanding how to effectively price a home in a rapidly accellerating market.

Conversely, in the oversupply of 2009 – 2011, the home needed to be in good shape as well as priced significantly below other homes for sale to have a good change of selling.  Homeowners were chasing falling home prices not because they wanted to but because the market dictated that if you wanted to sell then that’s what you had to do.

Condition of the Home

Homes in great condition typically move faster because the largest number of buyers would be interested.. 

Buyers love move-in-ready homes, and if yours is in tip-top shape, it could make a big difference in how fast it sells. That means everything from the curb appeal to the state of the interior matters. 

If there are visible repairs needed, like a worn-out roof, dated fixtures, or other maintenance issues, this will typically reduce the buyer pool and the home will take longer to sell, especially if you’re aiming for top dollar. 

But take heart!  You don’t have to fully renovate your home!  The tradeoff is either being content to wait for the perfect buyer, or reduce the price to enlarge the buyer pool.

Location, Location, Location

It’s an old saying in real estate, but it holds true—location is key!

Homes in desirable, high-demand neighborhoods or with outstanding features (ahem… waterfront) have higher natrual interest and thus often sell faster. But even things like proximity to shopping, public transportation, parks, or views all attract buyers. 

Homes in more remote or less popular areas can still sell quickly however they must be priced accordingly!

Listing Price

Sure, it’s obvious that that dropping the asking price for a home will make it sell more quickly.

But the reason you are even considering paying a professional to assist you with the sale of your home, is the so that the home can be sold for the most money possible within a reasonable time frame.

On the topic of price… There is a price at which your home will simply never sell.  Think about being asked to pay $10,000 for a simple can of coke.

However, if you drop the price, you eventually get to the point where EVERYONE would want to buy your home.  Put a price of $1 on your home and you’ll have people crawling through your windows with signed contracts!