It’s been the trend for some time now that residential real estate takes longer to sell. A large supply of homes and changes in mortgage practices and approvals are a couple of the factors influencing this tendency toward extended time on the market. But why it takes longer isn’t so much the issue at hand anymore as how do we counter this change?
Now, more than ever, it is important to plan ahead if you want to sell your home. Start preparing the house and property way in advance and consult a real estate agent for how the local market is doing, not only in your city, but in your neighborhood and on your street. A professional Realtor can tell you how many days (or months) similar properties in your area have been on the market, so you can get an idea of the timeframe you’re looking at with your own home.
With that sort of inside knowledge, homeowners can take steps to list their house or condominium well in advance of when they actually want to move. While some might think of this as “jumping the gun,” it is actually smart practice in a residential real estate market that has been sluggish nationwide. Homes aren’t selling in a few days anymore, a few months is more the standard and some can take closer to a year, so many people are feeling trapped by their properties when they cannot find a buyer right away.
Fortunately, agents in the industry are aware of this fear and are working with sellers to get things rolling long before the ultimate sell date, avoiding both the anxiety and pressure of trying to unload a home too quickly. Of course, there are many other factors that impact whether a property sells, but this is the first step, and a very important.