How Long Does It Take to Sell a House?

✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.

A house spends an average of 48 days on the market as of September 2023. That’s a positive decline from the recent high of 72 days homes spent on the market in January 2023.

But not every house sells at the same speed. The DOM only factors in the time it takes to sell after listing. It doesn’t account for the prep time required. Moreover, market behavior varies widely based on location. Pricing and property condition also make a difference between a speedy sale and a prolonged wait.

So, how long does it take to sell a house after these additional time sinks?

5 Factors That Affect the Speed of Your Home Sale 

From listing price to market mood, let’s see what factors determine the speed of your home sale:

1. Asking Price:

If you want to sell your house quickly, you must set the right price. While overpricing can repel potential buyers, underpricing will cut into your profits. You must determine your price based on your home’s condition, age, location, and market behavior.  

Start with a thorough market analysis of your locality. This will help you understand the price range in which homes sell in your neighborhood. You can also reach out to a real estate agent for help.

2. Condition of Your Property:

A house that is in bad shape can deter potential buyers. Also, failure to maintain your house can substantially decrease its overall value.

So, you must ensure your property looks attractive and is in top-notch condition. Invest in house repairs and paint jobs. Declutter and depersonalize the space to improve its appeal.

3. Property Location:

If your home is situated in a desirable neighborhood, it is bound to sell faster.

Properties near schools, parks, or shopping centers sell faster and for a higher price. In fact, homes in school districts sell at an average of 49% higher than the national median.

4. Current Market Trends:

Due to high demand and limited inventory, homes tend to sell faster in a seller’s market. In a buyer’s market, it takes longer to find a buyer and sell a house quickly, as supply exceeds demand.

Also, stable economic conditions translate to better purchasing power. This means buyers can easily secure a mortgage at favorable interest rates, leading to quicker home sales. However, the situation is reversed during an economic slump.

5. Number of Days on the Market:

Buyers are cautious with properties that have been on the market for a long time. You can employ effective marketing strategies to improve your house’s visibility and minimize its DOM.

Time It Takes to Sell a House 

If your listing has been up for a while, it’s natural to wonder how long it’ll take. There’s no clear-cut answer—some homes sell quickly while others linger on the market.

It depends on your home’s location, condition, and market behavior. These dictate how long each stage of the sale process takes.

5 Stages of Selling a House

Here are the common steps in the home sale process:

1. Home Preparations: Your agent will recommend home preparations to make your house more sellable. This includes repairs, home staging, and decluttering. This process usually takes up to a month.
2. Listing the Property: Once your listing goes live, your real estate agent will schedule tours and open houses. You will also receive offers during this period. The whole process can take anywhere between a week to two months.
3. Accepting the Offer: If you find a favorable buyer, you can put up a counteroffer to begin negotiations. It typically takes a week to finalize the deal.
4. Appraisal and Inspection: After you accept the offer, the buyer will conduct a home inspection and appraisal. If you’ve properly maintained your place, this process shouldn’t take more than 8-10 days.
5. Closing: In the final stage, you sign over the closing documents and get the proceeds from the sale.

Everything considered, it will take you somewhere between 70-90 days to sell your house.

To make it quicker, you can take charge of the selling process with Houzeo. With our Flat-Fee MLS platform, you can list your property, handle negotiations, and close a deal as quickly as possible!

How to Prepare Your House for Sale

A well-prepared house with attractive curb appeal and polished interior sells faster and for a higher price. Here are some tried-and-tested home preparation tips:

Declutter and Depersonalize

A clean, decluttered, and depersonalized space looks larger and more inviting. Also, it helps buyers imagine the place as their own.

You can start with personal items like photos, keepsakes, and fridge magnets. If you have many unwanted items, you can opt for a junk removal service. You can rent a separate storage unit for items you’re not ready to part with.

Address Necessary Repairs

80% of buyers prefer ready-to-move-in homes that don’t need additional adjustments. So, fix obvious issues like creaky furniture, leaky faucets, and scuffed paintwork.

Also, address these repairs before listing to avoid delays during the sale process. If there are too many things to fix, you can always hire a handyman to speed up the process.

Consider Staging

A staged home can help the buyer understand your property’s value and make it sell faster. You can show off your home’s potential through the right lighting, furniture, decor, and accents.

You can also hire home stagers to do the job for you. But remember, a professionally staged home might sell quickly but will also cut your profits.

Hire a Professional Photographer

Good photos can make your home stand out in a sea of online listings. This is also where your decluttering, depersonalizing, and staging efforts pay off. So, it’s best to hire a professional to do the job.

Around 97% of buyers begin their search online. Thus, having professional-grade photographs of every room can improve your listing’s visibility.

Depending on your house’s condition, prep work can take anywhere between a week or 2 months. If extensive renovation is required, it can even take up to 6 months.

Best Ways to Sell Your House Fast

Factors like market conditions and the economy are out of your control. But that doesn’t mean you have to surrender to a prolonged sale. Here are some ways you can make a faster sale happen.

Hire a Top Real Estate Agent

With the help of an experienced realtor, you can effectively market your house and expand your network. This professional assistance can help you get multiple buyer offers and sell your house quickly.

But do remember that these perks come at a price. The services of a top realtor can easily cost you up to 6% of the house sale price in agent commissions.

Market Strategically

With over 1.5 million home listings in the US, you need to market creatively to stand out. You can conduct open houses, offer a trial stay, or set up an auction to attract buyer attention.

Also, 96% of homebuyers today start their search online. You can capitalize on this through social media marketing, virtual house tours, and email marketing.

List on the MLS

A Multiple Listing Service (MLS) offers better visibility and exposure for your property. Many MLS services syndicate your listing to popular real estate websites like Zillow, Realtor.com, and Trulia.

Flat-Fee MLS, like Houzeo, lets you control your home sale completely, from listing to negotiations and closing. Additionally, with the flat fee benefit, you spend less than realtor commissions.

When Is the Best Time to Sell Your House?

Late spring, especially the month of May, is the best time to sell a house. Not only do houses sell the fastest, but also for the highest price. In fact, houses sold in May earn 12.6% more than their asking price.

Apart from the month, also pay attention to the market conditions. It’s possible for the market to favor buyers during springtime. In such a case, selling won’t be completely viable.

The Bottom Line

Competitive pricing in a fast-paced market often leads to a quicker sale. In contrast, sluggish markets may require patience, price adjustments, or home improvements to attract buyers.

Overall, the time it takes to sell hinges on your marketing strategies. With a mix of online and offline marketing, you can attract buyer attention and get your property off the market quickly.

Frequently Asked Questions

• Seller