As you plan your move, you may have noticed that some homes sell quickly and others take longer. But why is that? This is what Redfin says:
“…the housing market has been completely turned upside down since the pandemic.” It’s a strange mix of low inventory (though it’s going up) and high prices—some homes sell in days, while others sit on the market for weeks.
Which might make you wonder what to expect when you sell. Now let’s break it down and give you some tips you can use to make sure your house sells quickly.
Homes Are Still Selling Faster Than Pre-Pandemic
First, you should know that things have slowed down a bit in most markets. You may remember how quickly houses sold a few years ago, but that won’t happen today.
Realtor.com says that homes are taking a little longer to sell now that there are more of them on the market.
But don’t worry about the ten-day difference between now and the last few years. Realtor.com will help you see the bigger picture:
“The average home was on the market for 50 days in April.” Homes are taking longer to sell this month than they did last year for the 13th month in a row. Even so, people are moving faster than they were before the pandemic.
Based on this, it shouldn’t be a big deal if it takes a little longer for your house to sell this year. In fact, it’s still faster than most. Besides, it gives you a little more time to find your new home, which is helpful when you’re moving.
Don’t forget that some homes sell faster than this. Some take even longer. What’s the real difference then? Why do some homes sell quickly to eager buyers while others sit on the market for a long time?
Having the right agent and plan is what makes the difference. Take a look at these tips.
1. Price It Right
Overpricing is a big reason why homes stay on the market for too long. A lot of sellers try to get a higher price because they think they can lower it later, but buyers turn them down.
Things to do: Make sure the price of your home is right by working with a real estate agent. They will look at recent comparable sales, which means they will look at how much other homes in your area have sold for recently. This way you can be sure that your price is right for the market and what buyers are willing to pay. Chen Zhao, Lead of Economic Research at Redfin, says it this way:
“I tell sellers to price their homes fairly because the market is always changing. You may need to price lower than you thought you would in order to sell quickly and avoid having to make concessions.”
2. Focus on the First Impression
A yard that’s a mess or a house that needs painting? People won’t want to buy it. A good first impression is very important because buyers decide in seconds if they like a home.
Outside, clean up your front yard, trim back your plants, power wash your walkways, and add new mulch. Clear out and depersonalize what’s inside. Also, think about doing small fixes like painting over the edges in a neutral color. Your agent will give you suggestions on what to do.
3. Strong Marketing & High-Quality Listing Photos
People might not want to buy from you if your listing or photos don’t look professional. They might think you’re trying to save money.
Things to do: Instead, use the skills, knowledge, and resources that your agent has to offer. They will help you make sure you have:
- Listing photos with a high resolution that show the house in its best light.
- Descriptions that go into great detail about what makes your house unique.
- Your listing on a lot of different sites, like social media and major real estate sites.
4. The Location of the Home
When it comes to real estate, you may have heard the phrase “location, location, location.” Indeed, there is some truth to that. Homes in areas that people really want to live tend to sell more quickly.
Things you can do: You can’t change where your house is located, but your agent can make your listing show off the best parts of your neighborhood or community. They can help buyers picture what life would be like in your house by showing off what’s great about the area.
Bottom Line
The only thing that might be different about homes that sell quickly is that the people who work on them are better at what they do.