Insider Tips: How Fast Will Your Home Sell?
April 21st, 2011 -- by JonMoultrieOne of the first questions people ask when selling their home is, “How fast do you think my home will sell?” The answer to that question varies based on three things: supply and demand, price and exposure.
1. Supply and Demand
Where you live plays a crucial role in determining how your home will sell. Do people want to live in your neighborhood? Are there a lot of ‘For Sale’ signs in your neighborhood? Your home will sell likely sell very quickly if your neighborhood is in high demand. Whereas, if no one wants to live where you live, it could take a very long time to sell your home.
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2. Pricing
What is the market value of your home?
This value is mutually exclusive from what you paid for your home, what it appraised for, and what you need to sell it for. Market value is strictly the amount that the market can bear for your home – what someone would be willing to pay for your home.
If you price your home aggressively – below market value – you home will likely sell within a matter of days. This is your choice though. You may choose to price it above market value. If you do this, your home will likely sell but it may take a very long time for it to sell.
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3. Exposure
Your agent’s job is to market your home for you through their websites, social media and other outlets.
These three elements work together determining the length of time your home will stay on the market. On average, most homes sell within 30-90 days.
Want to do more to help your home sell quickly? Read this!
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Tags: Arlington Real Estate, Market Value, Sell Your Home, Supply and Demand
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[...] Your Realtor has access to resources that can give you current marketplace information regarding your property and competing properties. This information is essential as you price your home in a way to help it sell quickly (Click here for tips to help sell your home quickly). [...]