How long should one leave a townhouse in West Seattle on the market?

Asked by Billythekid, Outside U.S. Wed May 30, 2012

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7
Karen Mcknig…, Agent, Kirkland, WA
Wed May 30, 2012
HI Billythekid,

I think you are asking the wrong question. If any property is priced right, it will sell within 30 days in any location and in any market. In this spring market in Seattle, and especially, popular neighborhoods like West Seattle, we are seeing multiple offers within a day on well priced properties.

I see you are outside the country, so I wonder if you are looking at a property to buy or if you are selling. If you are buying, a long market time, indicates the property has been overpriced. Once it is priced correctly, it should sell quickly. Often, when a property has been on the market a long time, it gets lower offers and actually sells below market value, so buyers can take advantage of that situation.

The above paragraph is good for you to know if you are a seller. If you are selling a West Seattle property, just know that the key elements are price, condition and location. You can change the price, improve the condition, or adjust the price based on the location. On my web site http http://:www.buyandsellseattlerealestate.com , you can find some great current market statistics on the Market Insider tab.

The key information you need to make a decision, is the activity you are getting. I always figure if I am getting several showings a week, the property is in the range of selling. If I get a dozen showings and no one back twice, or no offers, I know the price is too high for the current market competition.

Good luck,
Karen
Web Reference:  http://www.karenmcknight.com
0 votes
Jirius Isaac, Agent, Kenmore, WA
Wed May 30, 2012
The market is good right now & if you do not have an offer after 30 days or so, it is probably overpriced or not marketed properly. I can't help you more then that because I do not know anything about your property.

Good luck, Jirius Isaac
0 votes
Tonya Brobeck, , Everett, WA
Wed May 30, 2012
Was your Realtor able to tell you the average days on the market for this style of home, location and price point? Have you done everything you can do to appeal to a buyer, such as prepping your home for sale? Curb appeal and inside decor, decluttering, staging? Is the price right? All of these hold wait on the open market. If one thing is off, you may not have a competitive edge. Especially now that we are in a sellers market with all time low inventory.....
0 votes
Ray Akers, Agent, Seattle, WA
Wed May 30, 2012
It's difficult to respond to your question without more information about location, age, square footage, and condition. The real estate market is heating-up and properties are selling quicker. However, if your townhouse is in a less popular location, or the condition is not tip-top, then the time on the market will be longer. Questions for you: Have you followed your agent's advice and painted & cleaned or staged the property to improve its overall appeal to buyers? There are simple and inexpensive things you can do to increase the chance of a sale. For example; painting the front door and putting out some potted plants on the porch will give a good first impression. Is your townhouse priced competitively?

I recommend asking your agent for an updated market analysis. If your condo has been on the market for three months or longer, then you need current data in order to make an informed decision about price, and whether or not to take the property off the market and rent it.

Good luck.
0 votes
Leah Pham, Agent, Seattle, WA
Wed May 30, 2012
Current average trends for townhomes in West Seattle is: 82 days average market time. This is for the West Seattle Area, townhomes, average size of 1360 sq ft, 3 bedrooms, 2.25 baths. Of course, if the townhome is in an odd location, or has an unusual floorplan, then market time will vary. Other factors can hinder market time too, like how well the home shows, availability of being able to show the home (tenant occupied vs vacant), and marketing (specifically staging, professional photos, and open houses). If you'd like detailed information, feel free to swing by our office in the Junction: Windermere Real Estate - 4526 California Ave SW - we are directly across the street from Wing Dome. Good luck! Leah@windermere.com
Web Reference:  http://www.townhouseteam.com
0 votes
Daniel Bretz…, Agent, Seattle, WA
Wed May 30, 2012
It depends if you are flexible on price and are willing to drop the price until it sells, or if you are waiting for the price you want, and really don't care what the market thinks the value of the house?

If it has been on the market for over two months, and you have not had any serious offers, the price is too high. If the list price is the lowest that you will accept, then you should take it off the market, and rent it out, or move back into it.
0 votes
Ty Cayce, , Seattle, WA
Wed May 30, 2012
Hey Billythekid,

We have very few townhouses that we can keep available because we have plenty of renters always looking for this type of housing. Can you tell me more about it please and if you would be willing to talk with Cayce & Gain about placing a resident for you or full-time management?

If you are not getting showings from your marketing efforts after a couple days it might be wise to reduce your price slightly too!

Sincerely,
Ty
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