Home Selling in Westfield>Question Details

08251980, Home Seller in Westfield, NJ

How much longer does it generally take to sell a house starting now (Fall) versus Spring/Summer?

Asked by 08251980, Westfield, NJ Tue Sep 7, 2010

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Ian A. Wolf, ABR SFR’s answer
Based on sales data and history within the Garden State MLS, it takes 23 days on average longer to sell a home in Westfield during the second 6 months of the years vs the first. The number, specifically, is 77 days on market(DOM) vs 54 DOM on average. The year prior for the same periods there was only a 10 day difference of 72 DOM vs. 83 DOM. Amazingly, in Westfield it homes are selling faster on average now than the same period last year. Hope that helps.
1 vote Thank Flag Link Tue Sep 7, 2010
Dear Home Seller,

You have received a lot of good advice here. The only advise I can add is that you shop for a good Realtor with plenty of experience and great marketing knowledge. In today's market you need not only the RIGHT Company, you need the RIGHT Agent with the RIGHT Company. If you still require assistance I would be happy to assist you in reaching your goal whether you choose Fall, Spring or any month. Feel free to contact me if you still need help.
0 votes Thank Flag Link Sat Sep 18, 2010
Home Seller,

You've gotten a sampling of "DOM" based upon historic data. I'd like to add, as someone who used to work with Statistics for a living, that use any of these numbers and ranges as just a single data point (as they say, "your results will vary"). Many "DOM" figures don't include any of the homes whose Listings "expired", and likely don't include homes that were "withdrawn". As an extreme example, I have an acquaitance (not in Westfield) whose house has literally been on the market for 5 years with various Agents -- she refuses to price it to reflect the current market. Also, the most meaningful data for you to look at would be that which is for the price range of your particular home. A "starter home" (e.g., $400K), is going to be much different than a "trophy home" (e.g., $2M) in terms of how long you can expect to wait for the right Offer -- regardless of whether it's April or November. Feel free to contact me if you'd like to look at market data that would reflect your specific situation.
0 votes Thank Flag Link Wed Sep 8, 2010
I have to agree with my colleagues here. There are usually fewer buyers in the fall. But if your home is properly positioned against it's peers, you should see quick activity and a quick sale. It's all about proper pricing, staging, and marketing. These make the difference between being "in the market" vs. simply being "on the market".

I write Westfield's #1 real estate blog...at least according to Google (see web address below). Visit it and you'll not only find monthly market reports about the Westfield housing market, but also articles about marketing strategy and the housing market in general. I am a full-time broker/agent who lives in Westfield and have been serving this market for many years.

Please feel free to contact me if I can offer any assistance to you with your Westfield real estate needs!
0 votes Thank Flag Link Tue Sep 7, 2010
Much will depend on location, size, condtion, how quickly you need to sell, etc.; if the property is priced on target for today's market and the marketing maximizes your exposure, it really doesn't matter what time of the year it is.
0 votes Thank Flag Link Tue Sep 7, 2010
The simple answer is now. Interest rates are low and there are buyers out looking for homes. We don't know what the spring will bring or if interest rates will ever be this low. My suggestions, freshly paint rooms, if you have hardwood floors, have them shine!and properly price your home. And most important, hire a great agent who knows how to market a Westfield home with todays technology!. Good Luck
Eileen Passananti
Coldwell Banker Residential Brokerage
209 Central Avenue
Westfield, NJ 07099
908-301-2880
epassananti@gmail.com
Web Reference: http://EileenPassananti.net
0 votes Thank Flag Link Tue Sep 7, 2010
Selling a house time varies on location, price, condition and marketing plan. As of March in Westfield there have been 166 homes sold with average time of 52 days. Last fall through winter there were 119 homes sold with the average time of 64 days. I have sold homes with bidding wars in week; so choosing an agent is critical to the days on market .

I'd be happy to assist you when you're ready-I can provide a merchandising and marketing analysis that will help you obtain the best possible price. or if you're in the market for a new home, I can help you find it!

Lisette Guzman-908-494-7178, lgsells@gmail.com
Coldwell Banker Residential Brokerage EAST
0 votes Thank Flag Link Tue Sep 7, 2010
Home Seller,

The answer of course is "it depends". I not only work, but also live here in Westfield. There are a wide
variety of Buyers that are attracted to Westfield. At the top of their lists are usually our school system and our proximity to the Raritan Valley Train line and NJ Transit buses. Those with school-age children prefer to shop in the Spring/early Summer so that they will be settled in by Labor Day. This results in a larger pool of Buyers (which correlates also to a larger inventory because Sellers often list their homes in early Spring). Another factor is the price point of your property and what the current inventory is (e.g., there's a lot more inventory of $1M homes than for "starter homes" -- based upon demand).

Homes sell during all 12 months of the year. If your home is priced right (based upon its size, condition, proximity to train, schools, etc), there will be interested Buyers. Please contact me if you'd like a market analysis for your particular situation.


Marilyn Holda-Fleck
Prudential NJ Properties - Westfield Office
mholdafleck@comcast.net
0 votes Thank Flag Link Tue Sep 7, 2010
Winter in New Jersey may just be more difficult depending on the weather, plus the weekdays after work are short for showings during daylight, but in general terms if your home is in a nice and attractive location, good size home for the asking price, priced right to sell, and in perfect move in condition.... it should sell now
or in the Spring....

If on the other hand you want to get as much money for your home as possible then it will be way more difficult in today's market and take much longer and may never sell at the price you may want...

So a very good, very straightforward and honest Realtor is what you need to get your home priced right from the get-go...... I also always suggest to my sellers, to view homes in and around their location in their app. price range somewhat up and down and not just their style or their size, as there might be many homes priced similarly that are much newer, some may be larger or more updated, so you should see them for yourself to have a much better feeling where your own home should be priced to actually sell in a reasonable time, and even then it may take a bit longer, just because we are in almost all parts of the country in a
buyers market, i.e. way more properties of all kinds on the market and not enough ready and willing and pre-approved buyers....

And when to put your home on the market also has to do more with your own plans once it is sold!!!

And remember in the Spring market, when everybody thinks that all those who stopped looking over the winter and the holidays is no starting to look, but then there will also be more homes competing with yours.
those buyers now or during the holidays looking really want to buy.... So why not putting your home on the market right now, interest rates are low!!!

Good luck, if you need a recommendation of a good area Realtor let me know I gladly pass some names on to you.
Edith YourRealtor4Life
Your Chicago and Northern Illinois Expert
0 votes Thank Flag Link Tue Sep 7, 2010
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