How long does it take to sell a house?
Wondering how long it’ll take to sell your property? The following points will help to give you an understanding of how long it could take to sell.
1. Average days on market in your area
Firstly, it’s a good idea to look at the average time properties spend on the market in your area. The best place to start is finding a local real estate who can give you an estimate based on similar properties to yours.
2. Are you in a seller’s or buyers market?
If you’re in a seller’s market, your property is more likely to sell quickly. A seller’s or ‘hot’ market means there are more buyers looking for a property than there are properties for sale. This is usually a good time to sell as you’ll probably not only sell quickly but also for a higher price as prices are driven up by buyer competition. A buyer’s market is the complete opposite, where there are more properties for sale, and not enough buyers. A good real estate agent will be able to advise if your property is likely to sell regardless of whether it’s a seller’s or buyer’s market and what you can do to further improve your chances.
3. Have you chosen the right method of sale?
In a seller’s market, holding an auction may result in a quicker sale and you’ll be able to drive up the selling price at auction due to the competitive nature of bidding, especially if you have a good auctioneer. Talking to a real estate agent will help you understand whether your chosen selling method is likely to achieve a quick sale.
4. Have you set a reasonable asking price?
If you overprice your property, you’re at risk of a much longer sale period. It’s a good idea to consider the following when pricing your home:
- Similar listings and recently sold properties
- Expired and withdrawn properties
- Houses listed as pending
- Current competition in your area
- Comparing square metres
- Taking market conditions into account
What can I do to sell my house quickly?
To sell your house quickly, the first step is to find a good real estate agent who can sell your home quickly by helping you achieve the following:
- A suitable method of sale
- A de-cluttered home
- Impressive photography
- Successful inspections
- A reasonable asking price
- Successful negotiation
- A smooth legal process