How Long Will It Take To Sell My Home?

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I personally believe there are four factors which determine how long it will take to sell a home...
  1. Price of the home - In general, less expensive homes will sell more quickly than more expensive homes because more people can afford to buy them. 
  2. Proximity of the home to work and lifestyle conveniences - Look at any metropolitan aerial and you will see the same thing ... high density residential and commercial starts at the center and becomes less dense the further away you get from the center.  Most people like to live within a reasonable drive time of where they work and most work places are located within higher density areas.  For this reason, there will be more buyers the closer in a home is located to the conveniences of offices, shopping, hospitals, good schools, dining, etc.
  3. The time of year you are trying to sell the home - Any Realtor will tell you the peak buying season starts to wind down when kids are back in school in late August.  Parents generally don't want to pull their children out of one school and put them into another during a school year.  Placing a home on the market in December doesn't mean it will not sell until the next peak buying season, but there will be fewer buyers out looking in December than in May.  The best possibilities for a buyer in November, December, January, and February are usually relocation prospects (because they have to find a home quickly) empty nesters, or to a lesser extent, families moving within the same school district.  One point here ... because there are usually fewer homes on the market in winter than in summer, people needing to buy a home quickly in the winter months are going to have to less options.  Your home may be only competing with one or two other homes, not nine or ten.
  4. The economy - If interest rates sky rocket, fewer people can afford to buy homes.  When people lose their jobs, they cannot qualify for a home loan.  The good news is we are extremely fortunate to live in the most undervalued major market in the ENTIRE country. 

 

What You Need to know about a Comparative Marketing Analysis

When is the best time to place my home on the market

 

 

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Tom Grisak Estate Homes Realtors, Inc - Texas License # 0329533

Your Realtors for Allentexas, Fairviewtexas, Lucastexas, McKinneytexas, Murphytexas, Parkertexas, Prospertexas