- The average time of home sale is 35-45 days, up to a year in some instances.
- The most typical reason for a lack of offers is overpricing property.
- The presentation of a home affects attractiveness to buyers.
- Advertise using a variety of channels, including traditional media.
- Invest in additions/repairs, price competitively, and take professional photos to improve selling chances.
As a home seller, it can be frustrating and overwhelming to have your property on the market for an extended period without any serious offers. It’s natural to feel uncertain and start questioning the various elements that may contribute to buyers’ lack of interest. Here’s the average amount of time homes are being sold in the market, reasons no one is buying your home, and ways to improve your chances.
Average Amount of Time Homes Are Being Sold
It’s estimated that selling a home today takes about 35 to 45 days. However, some homes can stay on the market for over 90 days and even up to a year in certain cases. Of course, this time frame can vary depending on different factors such as location and condition of the property.
Reasons No One Is Buying Your Home
There are several reasons why no one is buying your home. Here are some leading reasons why:
Overpriced Property
One of the most common reasons your home isn’t selling is overpriced. While it’s understandable to want to earn a reasonable profit from the sale, it’s important to remember that buyers are often looking for a good deal. If your asking price is too high, you’ll likely turn off potential buyers, and they will move on to another property.
Look at the local real estate market and check how much similar properties in your area are selling for. Consider lowering your asking price to make it more attractive to potential buyers. The average number of homes today is around $470,000, so never exceed that price tag.
Poor Presentation
Another reason why your home isn’t selling could be related to its presentation. If your property isn’t presented in the best light, you will likely lose out on potential buyers. This includes the curb appeal, cleanliness, decluttering, and staging of your home.
Make sure that your property is well-maintained with curb appeal. Have a professional cleaner come in to spruce up the interiors, and consider hiring a staging company to help present your home in its best light.
Limited Advertising
If you’re not advertising your property correctly, you could miss out on potential buyers. Simply putting an ad on one or two online property portals may not be effective. You should be utilizing a variety of channels, including traditional advertising methods like newspapers and local property magazines.
Consider hiring an experienced real estate agent who knows the neighborhood and can get your property in front of interested buyers.
Market Conditions
The real estate market is constantly shifting, and there may be times when it’s not the best time to sell. For instance, having few buyers in the market due to economic instability may affect your chances of selling quickly.
Look at current market trends and try to plan the sale during times when it’s more active. Partnering with a local real estate agent can also help determine the best time to put your property on the market.
Tips to Sell Your Home Fast
If you want to sell your home fast, you’ll need tips to get you ahead. Here are four ways you can sell your home fast today:
Build Additions
People like more space and more locations in their households. Building attractive home additions can give you two main benefits. First, it adds more value to your home and makes it stand out in the market. Secondly, people will likely buy a house with space and extra features.
Price Comparably
It’s essential to price your home competitively with similar properties on the market. Research local listings and review recent sales prices not to overprice or underprice your property. An experienced real estate agent can help you set an ideal price for a quick sale.
Get Professional Photos Taken
High-quality photos are essential when listing a home for sale today. Have a professional photographer take pictures of your property and use them in all your marketing materials to ensure potential buyers know what they’re buying before seeing it in person.
Invest in Repair and Maintenance
Make sure your property is in top condition before selling. Invest in any repairs needed and spruce up the interiors with professional cleaners or a fresh coat of paint. Doing this will give you an edge over other market properties and help attract more buyers.
These are some reasons why your home isn’t selling, as well as tips on improving its chances on the market. Partnering with an experienced real estate agent who knows your local area can also make all the difference in finding interested buyers quickly. Remember to price competitively, build additions and invest in repair work to sell your home quickly!
