When preparing to sell your home, one of the first questions on your mind is likely, “How long will this take?” It’s a reasonable concern—you want to be prepared and have a sense of what to expect.
While every housing market varies, understanding the national landscape can provide a solid starting point. However, for a more tailored and detailed analysis of your local market, it’s essential to consult with a real estate expert in your area. They have the most accurate pulse on local trends and can provide insights on how your market compares to national patterns.
Here are some key factors a knowledgeable agent will cover with you during that discussion:
More Homes Are on the Market, Impacting Selling Time
According to Realtor.com, the number of homes listed for sale has been steadily increasing this year. This influx provides buyers with more choices, which is great news if you’re in the market to purchase a home. However, for sellers, this also means that homes are staying on the market a bit longer, as buyers now have more options to consider (see graph below).
A skilled real estate agent can help you navigate these changing conditions and develop a strategy to make your home stand out.
One of the main reasons homes sold so quickly in recent years was the limited supply available. Now that more homes are on the market, it’s only natural that the pace of sales has slowed down. According to Realtor.com, the average time from listing to closing is currently 55 days.
However, it’s important to remember that while homes may not be selling as quickly as they did this time last year, they’re still moving faster than they did in pre-pandemic years. If you look at the period from 2017 to 2019, homes typically took 60 days or more to sell. So, despite today’s increased inventory, homes are still selling at a faster rate than in more “normal” years.
This is because even with more properties available, demand still outweighs supply. Well-presented and correctly priced homes are still selling quickly. As NerdWallet puts it:
“Overall, though, demand still outpaces supply. This is hardly a mellow market: Good homes sell quickly . . .”
How Your Agent Can Help Your Home Stand Out
If you’re eager to sell quickly, working with a skilled local real estate agent is crucial. They’ll guide you through pricing your home correctly, staging it to attract buyers, and crafting a marketing plan that stands out. Plus, they’ll provide valuable insights into your local market to ensure a smoother process and help you make informed decisions.
While homes may be staying on the market a bit longer than before, they’re still selling faster than usual. With the right agent and strategy, your home could sell even quicker than you expect.
Bottom Line
If you’re planning to sell, knowing the expected timeline is key for planning your next steps. Let’s connect so you can price, market, and sell your home with confidence.
