How Quickly Will My Home Sell
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HOW QUICKLY WILL MY HOME SELL?
If you are wondering how long it will take to sell your home, continue reading.
On this page, you're going to get an insight into how we estimate the length of time it takes to sell a home.
The speed at which a home sells depends on 4 main factors as follows...
(1) Real estate market conditions and time of year.
(2) Marketing plan/strategy.
(3) Pricing strategy.
(4) How well it shows.
Now, the decision on pricing and how well a home shows is totally up to the seller.
We will guide you to make the right decisions on those 2 factors but I have to remove them from the equation for the purpose of this article and focus on the real estate market conditions and the marketing plan.
(1) MARKET CONDITIONS
With little or no marketing, the market climate determines the speed of the sale. In a HOT market where there is limited inventory, meaning there are more buyers than homes to purchase, you can sell your home within a week... and possibly even in a day. On the other hand, In a SLOW market where there are more homes for sale than buyers to purchase them, it could take up to 2 months or longer to sell your home.
If you want us to help you sell your home, we can discuss the timing and how quickly we feel your home will sell when we meet with you. Click the button above to contact us for help.
It helps to look at the absorption rate when determining timing. Absorption rate is a metric used to evaluate the rate at which available homes are sold in a given time period (a calendar month, in this case).
It is calculated by dividing the total number of homes sold in a given month by the total number of homes available for sale in that same month.
According to the Real Estate Board of Greater Vancouver and the Fraser Valley Real Estate Board, the following market conditions are indicated by the corresponding absorption rate ranges:
BUYERS' MARKET - 0% to 11%;
BALANCED MARKET - 12% to 19%;
SELLERS' MARKET - 20% and above.
Generally, if a home is taking longer than 30 days to sell, it is probably overpriced. For a clear understanding of why that is, I recommend you watch our video or read the article titled "9 Reasons Why You Should Not Overprice Your Home".
(2) MARKETING STRATEGY/PLAN
Generally, the goal of a good marketing strategy and plan is to expose the home for sale to the MOST number of QUALIFIED BUYERS possible and orchestrate competition for the home amongst those that really want the home.
If an agent barely lists a home on the MLS, sticks a yard sign on the front lawn and sends out a few fliers, that home may take a long time to sell unless it is priced aggressively yo sell.
A very good marketing strategy/plan for a home that is appropriately priced will sell the home within a week
A home that is marketed with advanced, innovative digital marketing strategies like we do, sells a lot lot faster than the average selling time of all listings on the market because our plan is designed to create maximum exposure of the home to the masses and generate competition between those truly interested in buying it.
Buying or selling your home doesn’t have to be stressful. Remember… when you seek our help, you will have a memorable experience.
I hope you found this information helpful.
If you have any questions
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