Jim from Canonsburg writes: How long will it take to sell my house?
Jim, some properties will sell in a few days; others may take months. Recognizing key factors that influence marketing a home will give you more control over market time. These factors are location, competition, timing, condition, terms and price.
Location is the single greatest factor affecting a home's value. A neighborhood's level of desirability is critical to a property's fair market value. Competition occurs when buyers compare your home against others for sale in the neighborhood. If there are many homes for sale, home prices may go down to compensate for increased competition. If few houses are for sale, home prices may go up. Timing may reflect a "buyers" (many houses on market - few buyers) market or a "sellers" market (few houses on market - many buyers). Timing may also reflect the time of year - winter versus summer; holidays when the market slows down, etc. Market conditions cannot be manipulated; an individually tailored marketing plan of action must be developed for each property. The condition of the home will affect price and speed of sale. Optimizing physical appearance and advance preparation for marketing will help maximize value. The more terms available, the larger the market, the quicker the sale and the higher the price. Terms structured to meet your objectives are important to successful marketing. The most common "term" for the Pittsburgh-Washington, PA area is for a seller to pay a portion of the buyer's closing costs. The last factor is price. If the property is not properly priced, a sale may be delayed or even prevented. A professionally prepared Comparative Market Analysis will assist you in determining the best price possible.
You can’t control the location of your home but you can present your home to buyers in top condition with a wide range of terms at a competitive price. A REALTOR® can assist you in developing a strong and successful marketing plan; as well as proper preparation of a Comparative Market Analysis.