Profile picture for georgianne4

How long should we plan on placing our current house up for sale?

We are planning on retiring and moving to antoher city.  We have already bought our house. 
  • September 18 2011 - Otter Creek Crystal
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Answers (20)

It all depends on pricing and condition in this market.  Every area is different but I know where we are, if you create value to a potential buyer these properties seem to move very quickly.  Key is being aware of your market conditions and pricing accordingly based on that.  Good luck with your sale and hopefully its already sold!
  • October 17 2011
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In most markets across the country, the average days on market (DOM) has increased from the DOM's of a few years ago.  It makes finding a real estate professional more critical than ever.
If you have someone you trust to aggressively market your home and give sage advice on price and terms use them.  If you do not- interview 3-5 agents and ask them:
-- their track record.
-- for a marketing plan to sell YOUR property.
-- their opinion of value of your property.
-- for testimonials/reviews from past clients.
  • October 13 2011
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There are a lot of variables. What is more important to you? The best price possible or the timing? Timing meaning getting help from friends and family to assist in moving? Are you making 2 payments? Does the weather play a part in your moving? Spring and summer are usually the seasons when most sale occur and thus the time to get the best prices.
Do you want to sell it quickly or do you have time to wait? As the other agents indicated, get a clear picture of what the average days on the market to sell a home, then most importantly, price it accordingly. Don't just consider how much homes are listed for in your area, but how much they actually sold for. Most important is hire a Realtor that is an active agent that knows the market and will market your home and not just put it on the MLS and hope a buyer comes along. Hope this helps.
  • October 12 2011
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What's most amazing to me is agent's on here seem to get the idea of "price" across, yet no agent in my market does! hahaha.  Seriously though if it's not sold yet, it's because it's worth more to you than it is to anyone else!  In my local market only 8% of the houses are selling and there is a 12 month inventory.  4500 houses for sale give or take.  That is less than 450 houses selling per month.  The question you have to ask yourself... "What am I gonna do different than the other 4499 houses for sale to make sure my house is in the 450 houses that actually sell and close?"   Its a matter of not how long, but when do you want your money? 
  • October 11 2011
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Profile picture for Rhonda Duffy
180 days with this plan in mind.  Lower the price after each 6 showings or 30 days.  Lowering the price will require you to lower 2 to 5% each time.  OR, just be patient and get your price.  Timing and Circumstance will play a big part in your strategy and that comes with the time on the market and your ultimate goal.
  • October 10 2011
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The sooner you put it up for sale the better!
  • October 10 2011
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Profile picture for Sharon Lewis
I would think you would want to keep it on the market until it sells. Is it empty? If so, stage it, it really will help your sale. Price it aggressively, if you can .
  • October 08 2011
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Profile picture for ANNETTE BOGGS
Have your Local Realtor check the average days on market and price your home to sell from day 1, if you over price it you will loose alot of your audience and your home will sit on the market. Better to sell sooner and not have two payments (your current one and your new home).

Lots of luck to you!
  • October 07 2011
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Your local Real Estate Professional should be able to furnish you with the average days on the market of properties that have recently sold. Your house should be priced competitively. Not at the highest that the market can bare & or the lowest. Photos & online marketing are critical in this market.

  • October 04 2011
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Profile picture for sunnyview
You need to price it co that is sells in no longer than you days on market for similarly priced homes. In this market, that may mean underpricing to find a buyer pool if your prices are moving down at all.

A local agent can help you , but you need ot price it right out of the gate not what you hope it's worth so you are not trapped between two payments.
  • October 04 2011
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I completely agree that a home MUST be priced right.  If there are 10 homes for sale that are comparable and only 2 of them sold in the past year, there's 5 years of inventory.  What are you going to do to be one of the next 2?  Homes that are priced right sell faster and yield a higher percentage of the listed price.  Homes that have one or more price reductions take much longer and yield much less of a percentage of the list price....you have the added cost of holding the house..ie mortgage, utility bills etc.

These statistics have been provided through independent research wherever you live. How much you have invested in a home has no bearing on what the market will give you.  Keep in mind that this is a business transaction, only.
  • October 04 2011
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Each market has different trends.  You should be very aware of these trends with the help of your Realtor. He/She should be able to show you the average time on market as well as know when your specific tyoe of property tends to sell better.  Inforamtion is power!
  • October 04 2011
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I usually give my seller clients a menu of my projections for  30 day sale list price, a 60 day, a 90 day, a 120 day, 150 day and a 365 day list price.
Still, there are no gaurantees. Not many of us go to the most expensive gas station to buy gas. We go to the cheapest. Buyers of homes do not like to overpay either. 
  • October 01 2011
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How long your house is on the market is directly related to how well it is priced. Most importantly, you must have an agent who is able to show you what homes are selling for in the area. If he or she presents you with the information it should be fairly easy to figure out what your home should sell for. Once you have it priced correctly it will sell quickly.
  • September 30 2011
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Every market is different. I would get a CMA from your local Realtor for your neighborhood to see how long it takes to sell a home there. If the home is priced right and in good condition, it should sell. It really depends on your area though. Your local Realtor will be glad to get all the info to you. Just call any Real Estate Company in your region or google Realtors there. You'll be able to get everything you need. Thank you for your question.
  • September 20 2011
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Find out how long it is taking homes to sell in your neighborhood, then decide on an appropriate amount of time.
  • September 20 2011
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Georgianne,
It depends on the Realtor you choose, the way you prepare your home for sale and the price you choose.  If you choose the right Realtor, they can help you with the other items and will market your home correctly.

There is a link to an article covering how sellers should choose a real estate agent in my profile.  Click my name then scroll down past the testimonials to the article links.

I wish you much success in your sale.
  • September 18 2011
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Profile picture for Julann Carney
I agree that the house should be priced competitively. Not at the highest that the market can bare & or the lowest. Photos & online marketing are critical in this market. Central Arkansas homes are selling even if time on market has slowed in some places. Depending on your financial situation I would anticipate a market time of at least 90-120 days. If you are trying to sell the home yourself I would say that if you don't get any inquiries or showings within 30 days you strongly need to consider hiring a professional Realtor to help you. Good luck & enjoy your upcoming retirement!! Julann Carney
  • September 18 2011
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Profile picture for brokermalibu
It's all about the pricing. If you price the home correctly, it will sell quickly. It's hard to "undersell" a property. If the listing price is too low, there will be multiple offers that will push the price up. If it is priced too high, it will sit on the market forever. Remember, it is the buyers that determine the price, not the sellers. If you need any help or have any more questions, visit [website deleted by Zillow moderator. Please refer to our Good Neighbor Policy for posting guidelines] -  Good luck!
  • September 18 2011
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Profile picture for Nayna Bawa
There are several things that you can do.  The first is to have the house for sale and price it slightly below what the others are listed for.  This will spark greater interest in your house versus the neighboring ones.  Another option is to have a dual lsiting.  That is, you can list the house for sale concurrently with a listing for rent.  That means if you have a qualified rental who agrees to pay you the asking rental term, then you can accept that offer without having to wait for a sale offer on your house.  The choice is yours.  Speak to a knowledgeable realtor in your area for further assistance.  I hope I helped to answer your question.
  • September 18 2011
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