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How Long Will it Take to Sell My Home?

That is THE QUESTION, isn't it! There are three main factors that affect a property's time on the market: location, condition, and price.

  1. Location is the one thing that you cannot control in the home selling process. In conjunction with condition and price, people choose a home based on the location and accessibility of the property. In many cases, homes will sell faster in desirable neighborhoods because the demand is high. Take into consideration what the demand is to live in your neighborhood. Your REALTOR® can provide information on yours and surrounding neighbourhoods to help you assess this factor.
  2. The condition of your property is also a major contributing factor to the time it will take to sell. When evaluating a home, buyers will first assess the structural condition of items such as walls, ceilings, floors, doors and windows. They will want plumbing and electricity to work efficiently. They will then consider paint, carpets and floor coverings. The front and back yards should be in reasonably good shape. If there is major damage or deterioration to any of these items, buyers will likely hesitate in making an offer. Discuss ways to cosmetically improve your home for a more rapid sale with your REALTOR® professional.
  3. Pricing your property to sell in the current market is absolutely crucial. Obviously, the condition and location of your property should be major considerations when deciding on a price. If your home is priced too high, it will likely remain on the market longer, resulting in a lower final sales price. Your REALTOR® can guide you on appropriately pricing your property for the shortest listing time with maximum profits.

There are several additional factors that can affect the speed of a sale including:

  • Local supply and demand
  • Marketing
  • Closing terms

Is there a surplus of homes for sale in your area? Are technology tools and networking resources being utilized to market your property? Are your closing terms favorable to buyers? The right REALTOR® will be able to coach you in dealing with each of these things to ensure the quickest possible sale.

Unfortunately, there is no magic time frame when it comes to selling real estate. Some properties sell before a sign hits the front yard, and others may sit for months before the first offer comes in. Your REALTOR® can provide you with the average days on the market for properties that have recently sold in your neighborhood; however it is important to remember that the variables affecting this data are not detailed in these comparables. Your REALTOR® will most likely have viewed a majority of the properties included in the comparables and can give you a better idea of why a specific property sold in the time frame recorded.

Do not to get discouraged if a sale takes longer than you anticipated. Instead, try to analyze the reasons your property is not selling and ask your REALTOR® what you can do to facilitate the process.

This information is meant as a guide. Although deemed reliable, information may not be accurate for your specific market or property type. Please consult a REALTOR® professional for more information on selling your individual property.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The data relating to the real estate for sale/lease on this web site come in part from a cooperative data exchange program of the Multiple Listing Service (MLS) in which this real estate firm (Broker) participates. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of REALTORS® an its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

IDX information is provided exclusively for consumer's personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

All listings featuring the BMLS logo are provided by BeachesMLS Inc. This information is deemed reliable but not guaranteed. Copyright 2017 Beaches Multiple Listing Service, Inc.


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