If you’ve found your dream home, made an offer, and it has been accepted by the seller, then the next step may be selling the house you currently live in. For many people, “carrying” a mortgage on two homes – particularly for any length of time – can be a financial challenge. So, how long does it normally take to sell a house these days?
According to Zillow, an online real estate database, in the spring of 2018, the average listing on its site sold in a period of 68 days. This window of time started when the home was initially listed and ended on the day the sale was closed.
Another way to look at this statistic is that a home that required 30 days from the contract to close was actually on the market for approximately 38 days – which is a significant decrease from the average of 140 days during 2010.
But, while 68 days is the national average, there are a number of factors that can have an impact on whether a property sells more quickly, or sits on the market for a longer period of time, such as the:
- Local real estate market and location of the property (for instance, homes in rural areas tend to sit longer than those in urban or suburban settings)
- Condition of the home (i.e., is it move-in ready, or will it take a bit of fixing up before the new owner can begin living there?)
Based on data from Zillow, homes that are on the West Coast in cities such as San Jose and San Francisco tend to sit on the market for a shorter period of time.
If you’re considering selling your home in the near future, one of the best courses of action is to have a good, solid plan in place – and an experienced local realtor can help you get that done. For more information on how to get the home selling process started, contact us.