What Is an Average Time to Sell a House [A Guide for 2024]

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Simple as they sound, real estate transactions can be tricky and require a lot of effort if you want to land a great deal. Namely, the average time to sell a house depends on many factors.

In this article, we’ll give you a brief overview of what goes on when you sell a house, a step-by-step guide, and recommendations to maximize the value of your property. And, by the end, you’ll have a better idea of how you can get your house sold for the most profit and how long it can take for you to close a deal.

Process of Selling a House

Here are the usual processes that you’ll have to prepare for and go through:

Find a Real Estate Agent

First, you’ll have to find a real estate agent. While you can always try selling your home yourself without a commission, it’s still highly recommended that you get a professional to do the job. Real estate agents have all the know-how in the industry, as well as the connections that can actually help you beat the average time it takes to sell a house.

You can rely on real estate agents to know all the legalities, market conditions, and paperwork required from start to finish. Experienced real estate agents can also shield you from phony buyers and know the tactics to avoid bad offers, letting you get the best deal for your property. Check out the best real estate lead generation companies to make the most out of your search.

Know the Value of Your Home

How much value you put on your home might not be equal to what the market is willing to pay for it. There are many things that can influence value such as location, general upkeep, added upgrades, condition of the built-in systems, furnishings, and more.

If you don’t know how to evaluate your home’s price properly, your real estate agent can really help you out. Experienced real estate agents can give a pretty close estimate of the market value of properties just by looking at them. But for more accurate pricing, you can ask your real estate agent to run a Comparative Market Analysis (CMA) and a Real Estate Market Analysis. Also, ask him or her to give you an idea about the average number of days on the market by city.

Prepare Your Home

This step can actually further add to the market value of your home. Potential buyers also perceive value according to how your home looks. If they see a messy, old-looking house, you’re really going to get a lot of demand for discounts. The house should look clean and in good condition (even if not new).

Get the walls painted and patch up any holes. Make sure systems like heaters, pipes, and air conditioners are functioning well. You might also want to consider leaving your best furniture so as to add a little more premium. And don’t forget to do pest control maintenance.

You don’t always need to renovate – selling as it works well too. But you just might miss out on potential profit. Shabby houses also take more than the average time for a house to sell. Ask your agent how to do an open house if you want to showcase your property in the best possible way.

Conduct Showings

Escorting potential buyers to show them around your house is the job of your real estate agent. You don’t even have to be present in many cases.

If you’re still living in the house, prepare to give your potential homebuyers a good show. Ironing the curtains and dusting off the cupboard are always good practices before letting anyone into your house for a home inspection. It’s also a good idea to scrub out soap scum from the bathroom tiles. Remember, there are also others selling their houses and often it’s the little details that can make or break a deal.

Close the Deal

Finally, once you’ve made a sale, you’ll have to do the necessary paperwork to make the transfer of ownership legit. Your real estate agent can do this for you. Make sure to read through the contract and understand clearly what you’re signing.

Just make sure that every condition has been fulfilled before finally closing the deal. If you’re still living in the house, it’s important that you and the buyer agree on when you will be vacating the property. It’s also best to turn over the house to the buyer just as it was during the showing unless otherwise agreed.

Tip: Listing a house as fully furnished will help it sell faster than the average time to sell a home.

How to Calculate the Average Days on the Market (DOM)

Days on the market refers to the time the property spends on the market from listing to getting sold. It helps you get an idea of the average time to sell a house in a particular location.

To get this figure, you must first decide which area you want to base your average on. This can be based on an entire state down to the neighborhood your property is located in. It’s usually best to reference on the smallest scale.

Once you’ve narrowed down your point of reference, get information about the number of properties sold in the area and how many days they were on the listing. Simply add the number of days each house in a chosen area was active on a listing, then divide by the same number of houses. This should give you an idea of the average amount of time it would take for you to sell your house in that location.

Average Time to Sell a House by Location

Here are the cities with the least average length of time to sell a house:

Number of days Location
8 Columbus, Ohio
9 Denver, Colorado
10 Raleigh, North Carolina, Seattle, Washington
11 Boise, Idaho, Cincinnati, Ohio
12 Ogden, Utah, Salt Lake City, Utah, Indianapolis, Indiana, Boston, Massachusetts
13 Colorado Springs, Colorado Dayton, Ohio, Charlotte, North Carolina

Here are the cities with the longest average length of time to sell a house:

Number of days Location
41 Little Rock, Arkansas
42 North Port-Sarasota-Bradenton, Florida; Miami-Fort Lauderdale, Florida
43 Allentown, Pennsylvania
47 El Paso, Texas
50 Fort Myers, Florida
51 Virginia Beach, Virginia; New York, New York
58 McAllen, Texas

Key Takeaways

Getting a real estate agent is always a good idea for a hassle-free sale.
Know the market value of your house before making your listing.
Make the necessary touch-ups to present it in the best possible way.
In case you’re still living in the house, clean up first before conducting a showing or open house.
Once you’ve found a buyer, you should always make sure that all conditions are fulfilled before closing the deal.

What Factors Determine the Days on the Market (DOM)?

So, what is the average time to sell a house and why do some houses sell quicker, while others take more time? Here are some factors to consider:

Listing Price

The price is very important for determining how fast you can sell your property. Just like with everything else on the market, if you want to sell it quicker, sell it cheaper. A fair selling price only puts you within the average time to sell a home. Buyers are usually after the best deal, so the lower your property’s price is compared to the market value, the quicker you’ll get a buyer.

Property Location

The location also has a big influence on the perceived value buyers will have compared to the listing price. You can price a house high yet sell it quickly if it’s in an in-demand location. Conversely, you can price below market value and hardly get any inquiries if the location is not desirable, e.g. a bad neighborhood.

House’s Condition

As mentioned before, a house in great condition can fetch a higher price and can even sell faster. You’ll also likely spend more time negotiating with buyers if the house is in poor condition. Buyers will ask for discounts or might request you to do some repairs prior to purchasing and this can take time.

Buyer’s Finances

Buyers can only decide whether or not to buy your house based on the amount they can actually pay. The best scenario is if your buyer can instantly payout of his or her pocket. But in many cases, buyers might have to apply for bank financing which might take some time to get approved.

Conditions of the Local Market

Conditions of the local real estate markets are outside of the control of both buyers and sellers but they can strongly affect the average time for a house to sell. These could be economic conditions, such as a recession. Or perhaps there are just too many houses for sale in the same neighborhood with very few potential homebuyers. This gives buyers a huge number of choices and unless your house is the cheapest on the block, it’s likely going to take you a long time before you can close a deal.

Experienced Agent

Some agents are just better than others. Experienced agents have more connections and have likely more expertise in the art of selling. A good agent can attract more buyers and draw interest to your house, eventually closing the deal quicker.

Tip: Spring and summer are always the best times to sell a house.

What to Avoid When Selling a House

Here are some things you should avoid in order to get the best and quickest deal when selling your house:

Being in the Market for Too Long

You might be persistent with your selling price, or perhaps you’re picky about who buys your home. Waiting for the perfect conditions can sometimes be disadvantageous if your house has been on the market for too long. A property that has been listed for longer than the average time a house is on the market for a particular area might be perceived by buyers as likely to have issues. This will make them more hesitant to buy it.

A High Selling Price

The value of your house should be based on objective factors. One way to do that is by doing a comparative market analysis. It’s ok to add a little more to the market value, but going overboard can push reasonable buyers away. And, if you’re asking yourself the question, “should I sell my house?”, then this article is for you.

A Bad Condition of the Home

Having your house in perfect shape can not only maximize its value, but it can also let you sell it faster. Buyers don’t want the hassle of making repairs themselves so it’s best to list your house when all renovations have been done.

Not Having Professional Photos of the House

You’re likely to come across your potential homebuyers online. With so many listings flooding the internet, having great photos of your house is crucial. Your house may look great in person, but a shabby photo can turn away would-be buyers. A well-presented home that looks worthy of an Instagram post will certainly attract interest and raise its value. We recommend getting a professional real estate photographer to take the photos for you. It can be well worth the investment.

In Conclusion

If you want to sell your house with the best profit, make sure you connect with a good agent. Get your house properly appraised to get a more objective value of how much it’s worth.

It does take an effort to get your house into its best shape, but it can certainly add more value and close the deal faster. And if you’re posting online, make sure to take great photos to make your house stand out from the rest on the market. Another thing you may want to consider if you’re selling your house soon is to study the housing market predictions for 2022.

FAQ

Which city has the fastest average time it takes to sell a house?

Statistically, the city in the US with the fastest time a house can be sold in Columbus, Ohio with a record average of 8 days. This is followed by Denver, Colorado with a record average of 9 days.

Do you really need a real estate agent to sell your house?

It’s not mandatory to get a real estate agent to sell your property for you. You can always try the DIY approach or ask a friend for help. But if you want to maximize your house’s value without the hassle of paperwork and dealing with every single inquiry yourself, having a real estate agent is definitely a good choice.

What makes a house sell fast?

There are many factors that can help you to sell your house fast, or at least quicker than the average time to sell a house in the area. In general, a well-maintained house in a highly desirable location even if it’s priced just a little below the average should stay on the market for the minimum possible time.

ABOUT AUTHOR

Alex is an IT wizz gone SEO gone fire-juggler. We’re not even joking. When he isn’t researching why one personal loan is better than the other and which piece of hardware you should buy next, he’s rollerblading or selling homes (because he does that, too, the smarty-pants).

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