In 2019, about 5.34 million existing homes and 682,000 newly constructed homes were sold. Some of these homes were sold before they weren’t finished getting built, so they spent no time on the market. Others spent several months on the market and were lucky to get sold.
If you’re getting ready to sell your home, it helps to understand the factors that affect the timeline. This guide gives you the tools to figure out the answer to, “how long does it take to sell a house?”
How Long Does It Take to Sell a House?
The short answer is that it depends. Some homes sell in a matter of days, while others can sit on the market for months. There’s no one answer because several factors go into determining how long it takes for a home to sell.
One option to consider is selling your home for cash. Services like We Buy Houses for Cash can help you sell your home fast. You don’t have to make repairs, put your house on the market, host showings, or negotiate.
A cash buyer doesn’t need to obtain lender approval, which streamlines the buying process. This means you can sell your home and receive payment in as little as seven to ten days.
Price your home too low, and buyers will assume there’s something wrong with the property. Price your home too high, and you’ll price it out of the market. You’ll then have to go back later and drop the price.
Selling a home in a timely manner is about finding the right balance between what you want for the home and what the market can support. Doing a market analysis of comparable homes can help you find the right price for your home.
While your home’s age generally doesn’t delay the home selling process, the condition can. A home that’s a fixer-upper and priced low can move fast. However, a home that needs repairs and is not priced low can sell slowly.
Even when you find an interested buyer, the inspection and negotiation process can cause delays in closing. A market full of modern and new homes will make it harder to sell an older fixer-upper.
The real estate industry will tell you that location is key. If your home is near desirable amenities, it can help your home to sell faster. In contrast, homes in less desirable areas of town can cause a home to sit on the market longer.
Selling a house in ideal market conditions can help your home sell fast and for the most money. A seller’s market is ideal because there’s a lack of available homes for sale, making buyers compete.
A buyer’s market means there are more homes for sale than there are buyers. As a home seller, you’ll have to compete to attract buyers.
It’s Time to Sell a House
So, how long does it take to sell a house? The short answer is that it depends. It can sell in a matter of days or take months. To help your home sell faster, set yourself up for success by pricing it right, consider the home’s condition, and look for the right market conditions.
If you need a guarantee that your home will sell fast, consider selling to a cash buyer.
Check out more of our online marketing articles to learn how to best market your home and potentially sell it faster.