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Kerry, Home Seller in Woburn, MA

WHAT IS THE AVG TIME ON THE MARKET FOR A COMPLETELY UPDATED HOME IN WOBURN MA?

Asked by Kerry, Woburn, MA Wed Sep 10, 2008

HOUSE IS 6 BEDROOMS, HARDWOOD FLOORS OVER 20K SQ FT LAND, AND OVER 2,000 SQ FT HOME. ITS BEEN ON THE MARKET FOR 7 MONTHS, AND I CANNOT FIGURE OUT WHY NO OFFERS ARE COMING. IS IT THE MARKET, THE HOUSE, THE AGENT....

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Hard to determine without knowing the exact property. I did a search myself and I think I have identified the property.

A house sells for 3 reasons:
Price
How it shows
How it is marketed

All 3 should be suggestions/strategies from your agent and then ultimately your decision. If your home is the property I found on the MLS I suggest staging the property better - perhaps painting those bright colors more neutral and getting some other (cheap) staging items (bedding, rugs, furniture, bath accessories, etc), again, that are more neutral. Take new pictures with the new staging and put them in the MLS. Is your property on lock box? Find out what marketing strategies your agent is doing to sell the property. Maybe you should suggest the agent shows the property themselves to help "Sell" it.

The average days on market for Woburn is 101 days. The median home price is $334,000 and the strongest selling range is $300,000-400,000. I quickly looked at the 16 houses to sell in the 400-450K range and it seems your house was probably overpriced for a while. Might be worth doing all the above staging and considering another price drop to get quick interest - and hopefully a bidding situation.

I know hearing this kind of advice can be hard sometimes but the market is soft in the suburbs and properties that are selling quick are good homes priced right. The rest are sitting.

I hope that helps! Good luck!
0 votes Thank Flag Link Wed Sep 10, 2008
I tend to agree with the earlier answer. In today's market, the most important factor, I believe, is pricing. Being competitively priced will attract the buyers looking in that price range because everyone is looking for a bargain. As for marketing, some things to consider are: web presence (personal website, office website, realtor.com, etc) , virtual tour, address domain site (ie..3mainst.com), staging (or at minimum, decluttering), broker open houses, Sunday open houses. All in all, get creative and explore some different possibilities. Also, as market time accumulates, you might consider taking your home off the market for 90 days. In MLS, when a home has not been listed for 90 days, the market time zeroes out. If you've been on for 7 months, it gives the buyer a negative view of your home.

As mentioned in the previous response, the market time for single families in Woburn is at 101 days (for the last 6 months). When I did a search for homes that had the key word "renovated", market time jumped to over 5 months. Perhaps when a home is renovated, the perceived value is assumed to be higher because of the added investment, when in today's market of declining prices, it may not be true.

I hope this all helps!

Good luck!
1 vote Thank Flag Link Thu Sep 11, 2008
Location is a big factor, but curb appeal and staging go a long way, use neutral colors, thin out the furniture in the rooms to make rooms bigger, stop with the candles use febreeze for a clean fresh cent. I know you have to live there and staging isnt convient but its necesssary with many homes on the market!
0 votes Thank Flag Link Fri Jul 24, 2009
I agree with the other folks - I think I identified your house as well. Adjust your price and some basic staging should help.

I'd shoot for a price in the $380's. As a single with that square footage many people aren't looking for more than 4 bedrooms. So while it may seem like a bonus to have 6, it may not be necessarily.

Pricing is nearest and dearest to sellers hearts but the reality of this market is you need to be priced propely PERIOD, to get any interest at all.

Sorry if this wasn't what you hoped to hear - I hope you are able to sell it quickly now!
0 votes Thank Flag Link Sat Feb 21, 2009
Kerry,
Thanks for calling Today!Please call Me anytime at 617-320-2322.Thank You,
0 votes Thank Flag Link Tue Jan 27, 2009
Kerry,
My Current Average on Single Family Homes is 74 Days Or Less on The Market and Getting My Sellers

97% of The Asking Price.This is Averaged Out Over 9+ Years and With Over $60 Million Dollars in Closed

Transactions.(A Tried and True Average).

Stoneham Street is A Great Woburn Location at The Winchester Line as a Matter of Fact My Relatives

Live on That Street.I Grew up on Swanton and Olive Streets.Looking At The House on MLS It Looks Like A

$399,900 House To Me.Best Of Luck!
0 votes Thank Flag Link Thu Sep 11, 2008
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