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Houses Are Taking Longer to Sell

Houses Are Taking Longer to Sell, but Here’s What You Should and Shouldn’t do to Sell Your Home Quickly:

homes are taking longer to sell

When you decide to sell your house, Realtors will tell you that they’ll get your house sold quickly and for top dollar. Who wouldn’t like that? Everyone wants as much money as they can possibly get. Most sellers would prefer not to have buyers coming to see their house for months on end. But what defines fast? There’s no absolute definition, and it depends upon a few factors. It can mean a few days, weeks, or even months. If you are a regular reader of my real estate blog, you know we keep tabs on how long it takes homes in La Crescenta, La Canada, Pasadena, and Glendale to sell. It also depends on the condition and your price range.

Over the last several years, it seemed like every house was selling within a few days of being listed. While most houses were selling that quickly, not all of them were. It can be an issue if you have the wrong expectations. This could easily happen if you aren’t aware of the actual data and think that houses sell much more quickly than they actually do on average. While some houses sell quickly, others take longer depending on many variables.

The amount of time it takes for houses to sell is cyclical and driven by the market. But if you want to sell your house as quickly as possible, here are a few things to consider:

Know the local average days on the market. You can’t entirely control how long houses are taking to sell due to market conditions, but you should at least know how long it’s taking on average for houses in your area and the price range to sell. This will help ensure you and your agent understand how long to expect your house to be on the market. Price your house competitively. One of the most common mistakes homeowners make is to overprice their house. This is easily one of the biggest causes for houses to linger on the market.

Make it easy for buyers to see. It can be annoying to have buyers wanting to come to see your house on various days and times. But the more agreeable you are to letting as many buyers come at the most convenient time for them, the more quickly your house will sell. Adjust the price when necessary. You will almost always see the most serious buyers in the market in the first week or two. If you aren’t seeing much activity, interest, or an offer, it’s likely a sign that you need to reduce your price. Discuss with your agent whether it’s just a matter of being patient at the price you’re at, or whether the activity is an indication that your price is too high and needs to be reduced.

Related Post: The Los Angeles Real Estate Market is Changing 

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