- Market Conditions in Your Area — At any given time, the real estate market is either favorable for home buyers or favorable for home sellers. When housing inventory is low, that is said to be favorable for sellers, since there is less competition from other homes on the market. When inventory is high, homebuyers have a lot to choose from, which makes conditions more favorable for buyers. Though this isn’t the single most important factor for how long it takes to sell your hose, market conditions do play a role.
- Your Listing Price v Comps — The listing price of your home needs to be carefully determined by you and your agent. If your listing price is too high in comparison with other comparable home values in that area, this could cause it to take longer to sell your home. On the other hand, pricing your house too low versus to comps can also make it take a long time to sell your home since buyers might think something is amiss with the property. Your agent can help you to find that “sweet spot” for pricing just right.
- Excessive Repairs — If a home shopper falls in love with your home and makes an offer, the next stage is the home inspection. If your home needs excessive repairs, the home inspection could cause a major stumbling block on the way to selling your home. The homebuyer may request that all repairs be made before going through with the purchase. In this case, you could be waiting months before all the work is completed. The buyer may even back out of the deal entirely if they don’t like the results of the home inspection report. Both of these scenarios will cause a major snafu in your home selling process. That’s why agents frequently suggest taking care of any major repairs before you list your home.
Barring these circumstances, there are some general expectations when it comes to selling your home. In many regions, you can reasonably expect to sell your home within three to six months after listing it. Some houses sell a lot faster than that, and others sell slower, depending on individual circumstances. For details about the home selling timeline trends in your area, contact us at 573-336-4100. We’re here to help with your home sale, from start to finish.