How long does it take to sell a house? That is a question that many homeowners ask themselves at some point. The answer, unfortunately, is that there is no one-size-fits-all answer. It depends on a variety of factors, such as the market conditions in your area and the condition of your home. However, there are things you can do to help speed up the process – and staging your home before putting it up for sale is one of them!
In this blog post, we will discuss how long it takes to sell a house and why staging before selling can help you sell your home faster.
Stages Of Selling A Home
Selling a home is not a quick or easy process. In fact, it typically consists of several stages. Below we discuss some of these stages in detail:
Listing The Property
This is the first stage of selling a home and includes tasks like hiring real estate agents, taking photos of the property, and writing up the listing. The marketing process begins once the house is listed. Your real estate agent will likely hold open houses and showings to get potential buyers interested in your property.
Accepting An Offer
Once you start receiving offers on your property, you’ll begin negotiating the final price. You may get an offer that is substantially less than what you wanted. If this happens, you have two options: accept the offer as-is or seek a better bargain. When you’ve found a price that you and the buyer are comfortable with, you’ll accept the offer and go ahead with the transaction.
Appraisal And Inspection
Once the offer is accepted, the buyer will schedule an appraisal and inspection of your home. The appraisal is to determine the fair market value and ensure that the property is worth the agreed-upon purchase price. After this, a home inspection is usually carried out. During a home inspection, the property is examined for any major health, safety, or mechanical concerns. If the home inspector discovers a lot of issues, buyers may opt to walk away. At the absolute least, you’ll have to address these shortcomings before closing.
Final Negotiations And Closing
After the appraisal and inspection are complete, the buyer will submit a request for repairs (if any). You can then negotiate who pays for these repairs. Once everything is agreed upon, you’ll sign the final paperwork and attend the closing.
Average Time To Sell A House
Homes are selling faster than they have in previous years across the country. Homes stayed on the market for an average of just 25 days in 2020, down from 30 days in 2019.
After an offer has been accepted, a house sale in the United States typically requires another 30-45 days to complete. As a result, selling a property takes an average of 55-70 days in the United States.
Of course, there are several factors that can affect this timeline. For example, the current state of the housing market, the location of your home, and the condition of your property can all play a role in how quickly it sells. We will discuss all of these later on in the article.
The following are some of the most popular locations in the United States during May 2022, according to their median days on the market:
- Manchester-Nashua, N.H: 9 Days
- Burlington-South Burlington, Vt: 11 Days
- Portland-South Portland, Maine: 15 Days
- Concord, N.H.: 17 Days
- La Crosse-Onalaska, Wis.-Minn: 15 Days
- Burlington, N.C: 13 Days
- Rochester, N.Y: 10 Days
- Elkhart-Goshen, Ind: 18 Days
- Lafayette-West Lafayette, Ind: 17 Days
- Maryland City, MD: 32 Days
- Brightwood, DC: 31 Days
Factors That Impact The Speed Of A Home Sale
There are a number of factors that can impact how quickly a house sells. Some of these include:
The Current State Of The Housing Market
It’s critical to know both the condition of both the national and local market. Are you currently in a seller’s market or a buyer’s market? This will have a significant influence on how quickly your property sells.
How do you know if you are in a seller’s market? Well, in a seller’s market, there is an overabundance of demand relative to supply. if the status of your local real estate market is a seller’s market, it may help your property sell faster.
In a buyer’s market, there are more houses on the market than there are buyers. This means it may take longer for your property to sell, and you could have to give up more in negotiations than you’d want.
The Number Of Days Your House Has Been On The Market
Homes that have been on the market for a longer period are often perceived as being “less desirable.” This is due to the fact that potential buyers may think there is something wrong with the property.
If your home has been on the market for an extended period, you may want to consider reducing the price or making some cosmetic changes.
The Location Of Your Home
The location of your home can play a big role in how quickly it sells. If you live in a desirable neighborhood, your house is more likely to sell faster than if you live in a less sought-after area.
Properties located in close proximity to schools, parks, and other amenities are also often more attractive to buyers and will sell more quickly.
The Condition Of Your Property
The condition of your property can also have an impact on how long it takes to sell. If your home is in good condition, it’s more likely to sell faster than if it needs repairs.
If your property does need repairs, you may want to consider making them before putting your house on the market. This could help increase the speed at which your property sells.
Time Of Year
The time of year can also have an impact on how quickly a house sells. In general, the spring and summer months are the best times to sell a property.
This is due to the fact that there are more buyers looking during these months than at other times of the year. For most markets, the optimum time to sell a property is generally thought to be in early May. The peak of spring through early summer is when houses sell quickest and for the highest prices.
How To Sell Your Home Faster
There are various ways to ensure your home sells as quickly as possible. Some of these include:
Hire A Top Real Estate Agent
One of the best things you can do to sell your home quickly is to hire an experienced real estate agent. They will have a good understanding of the market and will be able to price your home correctly from the start.
An experienced agent will also know how to market your property effectively and may even have buyers who are already interested in your type of home.
Invest In Professional Listing Photos And Videos
Another way to make your home more attractive to buyers is to invest in professional listing photos and videos. This will help show your home in its best light and could make potential buyers more interested in seeing it in person.
Evaluate Your Asking Price
If your home has been on the market for a while without any offers, you may want to consider reducing the asking price. This could help increase interest in your property and speed up the selling process.
Stage Your Home Before Selling
According to research carried out by the National Association of REALTORS®, homes that are staged sell faster and at higher prices than those that are not staged. The study also shows that nearly two-thirds of sellers’ agents agreed that staging a home decreases the amount of time the home spends on the market.
Staging is a great way to reduce your home’s time on the market. This is because it allows potential buyers to visualize your home as their own.
When your home is staged, it’s important to ensure that the staging is done correctly. This means using furniture and decorations that appeal to a wide range of buyers. You also want to make sure your home is clean and clutter-free. Asides from this, you’ll need experienced stagers that understand how to stage a home for sale. This is where we come in!
If you’re thinking of selling your home, we’d be happy to help. We have a team of experienced stagers that can transform your property into one that buyers will love.
How Long Does It Take To Sell A House (Final Thoughts)
Hopefully, this article has given you a better understanding of how long it takes to sell a house and why staging before selling can be very beneficial.
If you’re thinking of selling your home, we highly recommend that you stage it before putting it on the market. This step could help boost the speed at which your home sells and may even help you achieve a higher sale price. Contact us today to learn more about our staging services!