How Long Will It Take To Sell My Home?
While this is a question we often get asked, there is no definitive answer. If we look at market trends and market reports we can get a general idea.
For example, in Apri, in the N11 district of Markham the average days on the market were only 19. In Stouffville the average days on the market was 25.
As we move farther out from the city it currently takes longer to sell. In Uxbridge the average days on the market are 45, and in Scugog, the average days on the market is 59
Not Just Location, Location, Location
Location definitely affects the length of time a home may be on the market but other factors also weigh in such as the age of the home, the percentage of newer homes is higher in Markham than it is in Uxbridge, and the condition of the home.
Pricing it Right
Pricing it right also makes a difference in how long it will take as buyers are not interested in how much you need to get from the sale. They are more inclined to consider your competition and recent sales in guiding them in determining what your home is worth.
If you want a quick sale then you should be looking at pricing it just under your competition and certainly no higher than recent sales for a similiar home.
Competition
How many homes are you competing against and how many potential buyers are there looking for homes similar to yours.
By no means are these the only factors that will affect the length of time your home will take to sell. However they are an indicator of the complexity of the factors that do affect how long it will take to sell your home
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Kathy Clulow Sales Representative RE/MAX All-Stars Realty Inc.. Brokerage 905.852.6143
Each office independently owned and operated Not intended to solicit clients already under contract
and some houses will never sell...need to price them right at the start!
James - ahmen
Kathy, you're so right about pricing your home appropriately, but so many sellers just can't or won't price their homes for the market/competition even when they are shown the stats
Kathy...ah, those pesky, unanswerable questions; perhaps that HGTV agent ? who leaves the buyers sitting in some cafe or restaurant will have an answer; but I wager most of us cannot honestly predict that.
Have a great week.
[ our weather was 90 today--90; last week we had 40s & 50s--Michigan!! what can one say]
Barb
Nick - and then they wonder why their home is taking longer than the average to sell
Barb - you have to wonder at the ability of those agents to pull rabbits out of their hats ...... they make it all seem so easy it's no wonder so many people enter the business and are gone as soon as they get a dose of reality.