You've decided to sell your house. Maybe you're downsizing, buying a bigger house, or moving to another area. Regardless of why you're selling your home, most sellers want to sell quickly, at the highest price, with the least hassle.
Many variables can affect how quickly your home sells, but as of March 2023, it took an average of 54 days to sell a home, according to Rocket Mortgage. Many factors – the state of the housing market, the home's age, and condition, the neighborhood, etc. – can affect how much your home will sell for, but in the second quarter of 2023, the median house price in the U.S. was $416,100, according to Rocket Homes.
But what if your house has been on the market for a while and isn't selling? As mortgage rates continue to rise and experts predict we may be moving toward a buyers' market, you may be tempted to assume the state of the housing market is the primary reason your home isn't selling.
However, you may be surprised to know that "the typical home spent 50 days on the market this October, which is one day shorter than the same time last year and more than two weeks (16 days) less on the market this past month than they did in the average October from 2017 to 2019," according to the National Association of REALTORS® (NAR).
The bottom line is that the state of the housing market (which you have no control over) can affect how quickly your house sells, but there are other reasons it may not be selling that you can control.
According to NAR, "…staging helps sell homes three to 30 times faster than the nonstaged competition. Further, staging can help increase the sale price by up to 20% on average." If your home isn't selling, take a look around. Are you helping your home put its best foot forward to potential buyers?
If you want to sell your home faster and for more, put a top real estate agent on your side! With 35+ years of experience and 200+ 5-star ratings, you can't do better than Pete Heim! Call him today at 610-745-3378 or 610-898-1441, or connect with him online.
Pete Heim is consistently ranked among the best real estate agents in Berks County. He's been serving Berks County buyers and sellers with pride for over 35 years. Put his experience to work for you!