How Long Does It Take to Sell a House: Timeline Factors
This post explores the timeline factors one needs to consider when selling a house, such as staging, inspections, and navigating the market. Learn how long it typically takes to sell a house.
The Time It Takes to Sell a House Depends On 3 Key Factors
A big factor in selling a house is the amount of time it takes. With multiple steps in the process, it's natural to ask, “How long does it take to sell a house?” The answer to this question will vary on a case-by-case basis, but there are three main factors that determine how long it will take.
1. Local Market Conditions
The state of the local economy plays a major role in the timeframe for selling a home. Generally speaking, areas with thriving economies have more buyers in the market and can sell a home more quickly than areas with slower economies. Additionally, the number of homes for sale in a particular area can be an indicator of how quickly the existing homes will be sold. If there's a lot of competition in that area, the process may take longer than if there are few homes for sale.
2. Price
The price of a home is a major factor in how quickly it will sell. In some cases, a home priced too high may sit on the market for an extended period of time. On the other hand, realistically priced homes in demand areas may sell within a few weeks. To determine the listing price and help attract buyers, be sure to research similar home values in the local area.
3. Preparations
Before putting a house on the market for sale, it's important to do any necessary repairs and preparations. This can include deep cleaning, staging, and painting. Some sellers may opt to update fixtures and other parts of the home in an effort to increase the sale value. Making such improvements can take weeks, or even months, to complete before the house can go on the market.
These factors � local market conditions, the price, and the preparations � all play a role in how long it takes to sell a house. Depending on the individual situation, it could take less than a week or over a year to sell a home.