how long does it take to sale a house?

Asked by Becky M, Burkburnett, TX Fri Dec 31, 2010

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7
Don Groff, Agent, Austin, TX
Wed Jan 5, 2011
Hi Becky,

Very good question. The time it will take to sell most homes comes down to two things. Price and condition. 80% of most sellers want to pad the pricing of their home because they believe when an offer is made it will always be considerably less than the asking price they are asking.

The opposite is actually true... here's why.

Let's say you have a home you think is worth $200,000 (based on sound market data from your Realtor). Many sellers will want to list the home at $210,000 or $220,000. The problem with that is strategy is you are not getting as many eyes looking at your home. Here is why: When you price your home too high there are literally hundreds of potential buyers who will not even see the home. For example. People looking to buy a home for $180-200k will typically search in that range. Your home does not even exist in their search because you are not even coming up on the radar so to speak.

Now if your home is truly worth $200k the buyers looking in the $220-250k range will also see your homes but if your home is overpriced it will not compare well with the other homes on the market in that range. So look at all of the potential buyers you are missing out on. It's a lot.. and the people who are actually viewing your home are not the ones who are likely to buy.

You ideally want to price your home so that it shows in the top 10% of given inventory that sells in a given month. If you do not do that you will miss the boat so to speak. Once your home is on the market for 60 to 90 days you have already missed the opportunity to sell at the best price possible because your home is now stale.

Overpricing is a strategy that can be implemented when home prices are increasing but in this market it is a recipe for having your home just sit and not get many showings.

Good luck to you!

Don Groff
REALTOR | Mortgage Broker
Keller Williams Realty | 360 Lending Group
512.669.5599
listings@dongroff.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Sat Jan 1, 2011
Stage
Let People In
Price Aggressively...ahead of the market.
Make your home the one buyers compare others to, not the one that helps sell other homes.

Good luck.
Web Reference:  http://www.teamlynn.com
0 votes
Christopher…, Agent, Tarrytown, NY
Sat Jan 1, 2011
Hi Becky, This will depend greatly on the price, location, marketing, condition, and the status of your real estate market. That's really the only way I can answer that question. Nobody can ever predict exactly how long but your agent can give you an idea how long other homes in your immediate area took to sell. once you have a buyer in place it can close anywhere within 30-60 days, give or take.

Sincerely

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
0 votes
Don Tepper, Agent, Burke, VA
Sat Jan 1, 2011
Phil's right. Somewhere between a minute and never.

However, it is possible to get a somewhat more definitive answer. You can ask a Realtor in your area: "What are the average days on market for homes in Holiday?" Disclosure: I know absolutely nothing about your area. However, in many areas of the country, the average days on market will range between 30 and 120. In really active, hot areas, it can be lower--for instance, 20 days on market. At the other end, it could be somewhat above 120 days.

Remember, though, that's AVERAGE days on market. That's also assuming your home is properly priced and properly marketed. Even in a hot market, some homes don't sell because they're overpriced. And even in some slow markets, homes sell quickly if they're real bargains.

Hope that helps.
0 votes
Phil Rotondo, Agent, Melbourne, FL
Sat Jan 1, 2011
Good Morning Becky;
Some time between 1 minute after the property gets listed to never.
With the home "Show ready", "Priced to sell", and "Desireably located" you can start packing one it's listed.
Web Reference:  http://www.321property.aomc
0 votes
Dan Tabit, Agent, Issaquah, WA
Sat Jan 1, 2011
Becky,
As Allison said, it really depends. Some listings are market ready, priced right and well marketed and go fairly quickly, a few days to a few weeks. Others are overpriced, not well prepared and may never sell. A good rule of thumb is if you are on the market for 30 days or 12 showings without an offer, something is wrong. Re-examine all the marketing, staging, availability and of course pricing and make some changes.
0 votes
Allison Klein, Agent, Fort Collins, CO
Fri Dec 31, 2010
It all depends... If it is priced correctly and in a good location and market depending on your markets absorption rate it should be on par with that. Different markets have different averages. You need a local listing agent that you trust and he/she should be able to give you a better number suited to you market.
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