When you put your house on the market, it can be difficult to tell how long it will be on there before it is sold. This makes planning for other things, such as moving out and buying a new place, harder to do. Here are five factors that can impact how quickly your home will sell.
Top Factors That Impact How Quickly Your Home Will Sell – Real Estate 101 with Dino Alexander, CEO & Principal Broker, Alexander Maxwell Realty – Best Real Estate Team in Hudson Valley
Consider your surrounding neighborhood. Is it close to restaurants or other local attractions? Is it family-friendly with parks and good schools? This will help boost the appeal of your house. If your house is further away from local spots or is near a busy road, it may not sell as quickly as other homes.
If your area goes through seasonal changes, you will see that the market slows down during the winter months and holidays. It picks back up again when the weather gets warmer. Families like to move during summer break when children are out of school. Moving when children finish school removes the stress of children needing to start in a new school in the middle of the year. Watch market trends during the year to decide when is the best time to list your house.
Amount of Competition
When there are a lot of houses on the market, the number of houses sold may decrease due to there being many options for prospective buyers to consider. When there is a lot of competition, it can be hard to make your house stand out among the rest. When the competition decreases, the chance of a house being sold increases due to there being limited options.
A part of the home buying process is having the home value calculated by a real estate appraiser. The value of the home will indicate to the buyer’s lender that they are getting a good deal on the loan. If the house is listed higher than what the appraiser says is the value of the home, that will slow down the process.
Condition of the Property
Houses that are well-kept will sell more quickly than homes that are older and need some fixing up. Take a look at the flooring and fixtures around the home. Does anything need to be replaced? Also, look at your appliances like the stove and refrigerator and check to see if they should be updated. Buyers are more likely to purchase a home that they do not need to repair or update after they move in.
There is no exact way to determine how long your house will be on the market before it catches the eye of a buyer. However, you can watch market trends over a period of time to see when it is the best time to list your home. Take the above factors into consideration when it is time to sell your home.
If you are looking to sell or buy a home in the Hudson Valley, you should work with the best real estate agents in the Hudson Valley! Alexander Maxwell Realty provides complimentary award-winning real state photography, video walkthroughs, aerial and drone photography, and a world-class global marketing package with every listing. We are not just the best at selling homes but we go beyond than most by bringing our expertise and experience in real estate investment, interior design, marketing, home staging, renovations, remodeling, and much more.
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