How Long Does It Take to Sell a House?

How Long Does It Take to Sell a House?

If you’re looking to sell your house, it’s a good idea to know how long does it take to sell a house in 2024. That way, you will have a good understanding of what selling timeline you can expect. Plus, it can also make it easier to narrow down the best time to sell and identify the right selling price. Different factors will influence how much time your home spends on the real estate market, too!

The house-selling process can be anxiety-inducing since you don’t always know how fast the property can sell. Yet it’s also exciting because it gives you the funds needed to move, acquire a larger home, or invest, depending on the situation.

Overall, USA Average House Selling Time Frames 2016-2024

According to data from a Federal Reserve Bank of St Louis study, the average number of days on the market for a real estate property is roughly 47 days (data from April 2024). What’s interesting is that when compared to other years like 2016-2018, nowadays, a property spends less time on the market, from listing to closing. In 2016-2017, it was common for houses to sit on the real estate market for 88 days or even more. These days, those figures are not as common.

Median house selling time in Days, in the United States

The average number of days on market tends to be higher during the winter/colder season, but even then, it’s under 65-70 days. During the summer, those numbers go to 40 days or sometimes even less. That’s why it’s very important to assess the market, learn how it fares at this time and how many properties are on sale.

Additionally, there are other factors affecting selling speed. These include:

  • Regional market conditions: maybe the real estate market is not very powerful when you sell, or it’s the opposite, very competitive and with good prices.
  • The property location will also influence your sales time from listing to closing. Properties in a prime location tend to be sold quicker, whereas those in remote locations or on the outskirts of a city might take more time to sell.
  • Home prices also matter; if the property has a very high price, people will wait for a drop in the asking price. That means its time on the market will usually be higher when compared to a home with competitive pricing.
  • We should also mention the home’s condition as well. If the buyer needs to spend money to repair that property, such a thing diminishes its appeal. And it might also increase its time on the market.
  • Some of the other factors include closeness to amenities, educational facilities, transportation, etc. The more appealing features a property has, the better it will be. Also, seasonal trends will affect the sales process, too, with houses selling quicker during the warmer seasons.

Timeframes for Selling a Arizona House

In Arizona, it takes anywhere from 40 to 60 days from listing to offer acceptance. However, it can take even more due to various factors affecting selling speed, such as time of the year or location. And then you can also add up to 30-45 days for the closing process too. The important aspect here is that having a real estate agent speeds things up.

If you want to sell your house in Arizona, the best month for that is either April or May. Historically, any house listed during one of these months will sit on the market for around 20 days, which is the shortest timespan. For Arizona residents, there are other factors to consider when it comes to how much time their home will stay on the market before selling.

Market conditions change very often; there are times when you have a seller’s market with few buyers, and in that case, the timelines are very long. On the other hand, the zip code, community conditions, locations, but also property conditions, and a need for repairs will influence the sale process. Even the time when you list your property on the market matters; ideally, you want to list it right before the weekend so people can tour your property right away.

Factors Affecting Your Selling Timeline

You should always have a good idea of what affects the sales timeline for your home. But in general, it has to do with some of the criteria below.

Market conditions

The housing market will shift immensely during the year, depending on the local economy, season, and other reasons. Sometimes, you will have a buyer’s market when there aren’t lots of home listings, and that’s when the selling speed is very good. But if there’s a seller’s market without tons of buyers, then your home will sit on the real estate market for a lot more time before it eventually gets sold.

Pricing strategy

It’s extremely important to price your property as competitively as you can. If you end up overpricing your property, that’s a disadvantage. The high price might turn people off, and that will become an issue. What you want to do is to study various similar properties and identify the market average.

bar chart with upward home price trendline

As always, you want to ensure that your price is very appealing, as that will speed up the sales process. Finding the right balance between a price you are ok with, but also one that’s competitive in regards to the current market can be difficult. That’s the reason why you should never rush when it comes to identifying the right price!

Property condition

If you want your property to sell quicker, then it’s important to invest in repairs and staging. The first impression will always matter, so you need to ensure that your home has a great curb appeal. And, if the property needs any repairs, it’s a good idea to do them now. Yes, it will be time-consuming, but repairing it now will allow you to raise prices. Most of the time, you will recoup your investment from these repairs, and that’s why you shouldn’t ignore any necessary repairs.

Marketing and agent expertise

You should always work with a professional real estate agent if you’re looking to sell a house. The reason is simple: a good real estate agent will use his marketing skills and connections to speed up the sales process. However, you want to look at their track record, expertise, and knowledge before picking the best agent. Then, it comes down to them as they help you sell the property as quickly as possible.

From Pending to Sold: Understanding the Closing Process

As you present the property to buyers, eventually, it will reach the “pending” stage. That means the seller accepted an offer without contingencies, or there is already an agreement in place, and the sale process can go through. Once sellers accept the offer, the sale will move to its closing stage. Normally, the closing stage will involve multiple steps, as you will notice below!

  • The buyer will submit documents to their lender and ensure that they have the funds to purchase your property.
  • Lenders usually require a home inspection to ensure that everything is ok and there are no problems. The buyer will also need to buy homeowner insurance and title insurance. A title search will also be required.
  • Some negotiations will need to be made when it comes to the closing costs, who will cover those, but also any potential repairs that might be necessary as well.
  • The real estate experts prepare closing documents and they are presented to both parties. You will need to review all the documents and ensure that there are no problems. Only sign when you are comfortable with the documents and their information.

It can take around 30 to 45 days when a home hoes from pending to sold. These timeframes will vary based on any legal requirements or difficulties that arise during negotiations. But it’s expected that the sales process is finalized within a month to 45 days at most.

Strategies to Streamline Your Selling Timeline

The selling time can be quite long, depending on the property and legal requirements. However, there are a few methods you can use in order to streamline this process. Here’s what you need to do:

A real estate agent holding a sold sign in front of a house

  • It’s a great idea to always set a competitive price from the start. Make sure that you study the real estate market in your area and set a good price to begin with. Sometimes, high prices will deter buyers from even checking your listing. A competitive price will make your property look more appealing, and that might speed up your sale.
  • Work closely with a good real estate agent. Ideally, you want to hire a local agent who has a very good understanding of the region and its specifics. That will help speed things up and eliminate any downtime.
  • Marketing your home properly also helps quite a bit. Usually, the real estate agent will help you with this process. But in general, you want to have great photos, list your property on multiple websites, and even create a virtual tour if you can. Highlight the primary features of your property, too, wherever it’s possible.
  • Showing the property to as many buyers as possible also helps. Staging will make your home more appealing and interesting, so it’s a must, especially if you want to shorten your property’s time on the market.
  • Speaking of showings, you also want to be very flexible. Accommodate the buyer’s requests and answer their questions as much as possible. Being friendly and helpful can turn the needle to your advantage and generate a sale.

Conclusion

Selling your property in the US can be a long process or even a short one, depending on the situation. Things like its neighborhood, pricing, the need for repairs, amenities, all of these and many others will have an impact. The amount of time your home stays on the real estate market will always vary, but it’s normal to expect around 40-60 days on the market, plus an additional 30+ days for the closing process.

It’s a great idea to work with a vetted real estate professional since he will offer you all the guidance and help you need. In doing so, you can circumvent any problems, while also speeding up the sale process. Also, if you have any questions or inquiries about selling your property, don’t hesitate and contact us today for a free consultation. We are always here to help, and we will provide all the necessary support to help you sell your home as quickly as possible!

FAQ:

What is the fastest way to sell my house?

It’s a great idea to work with a real estate agent that can list and promote your property online/offline. You should also perform any repairs, stage your home, and ensure that it’s priced competitively. These factors can help improve its appeal, and it might result in a shorter time on the market.

What is a good time of year to sell a house?

The ideal time to send your home is during the spring season, more specifically April-May. However, that might differ based on where you live and the current real estate market. Yet, in general, houses tend to sell quicker during the warmer seasons when compared to the winter, for example.

How long does it take to close on a house after an offer is accepted?

Once the closing process begins, it can take anywhere from 30 to 45 days on average until the buyer actively owns the property.

What are the steps involved in selling a house?

You will need to list your home online/offline and then you start taking home visits from buyers interested in the property. Real estate professionals can take care of this process for you.

How can I speed up the sale of my house?

Ensure that you perform any repairs, and also improve its curb appeal. Staging the property is a great idea too, and it’s important to prepare all the necessary documents. That way, everything is ready and the closing process will be a lot smoother.

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