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Is 6 months very long for a house to be on the market?

  • February 26 2011 - Dundalk
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Answers (8)

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Not necessarily depending on your market and your motivation. There are three things a seller can do when selling their home 1) Improve the home so the value improves 2) lower the asking price or 3) stay patient. If you have not reduced the asking price in 6 months - your price is not compelling - and in this market it needs to be to get offer.
  • February 26 2011
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Home sales volumes vary seasonally.  In addition to all the other good advice listed here, I would take into consideration the months that your home has been on the market.  If your home was listed in the beginning of Fall, it may have been susceptible to the typical drop in interest that happens during the colder months(assuming you don't live somewhere tropical).  Hang in there and make sure your home is priced RIGHT and ready to go for the Springtime Blitz!
  • February 26 2011
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Well, average days on market in the Dundalk area tends to be over 200 days, so that would be longer than six months. There is a lot of inventory, which makes it take longer to sell.
That being said, if a home is priced aggressively and shows well, it often can sell in less time.
So, the answer really is yes & no.
I hope that helps!

Thanks!

Sincerely,
Marney Kirk
Keller Williams Excellence Realty
  • February 26 2011
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The dynamics of home selling are changing.  Today, everyone looks on the internet for homes of interest.  When a home comes on the market at a 'wow' price, it immediately gathers a lot of interest, showings, and offers.  Pricing a home 'just a little higher, because you never know' never works to the seller's advantage.  As a matter of fact, homes that are priced right to begin with sell faster and net the seller more money.
  • February 26 2011
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Way too long! With values continuing to decline, the longer a property sits on the market the lower the value becomes. If a property doesn't sell in a time frame that is consistent with the overall average "Days on Market" for that particular neighborhood, then the market is indicaitng that the property is overpriced. Value is affected by many factors, understanding these factors will help sellers make practical pricing decisions.
  • February 26 2011
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Profile picture for ZetaCross
Are you getting any showings? If not, drop your price. If people are looking, find out what they are saying. There are a lot of very nice homes--not problematic--in my market that have been for sale for 6 months. Buyers have many choices. Sellers should pull out all the stops: Finish those unfinished projects. DeClutter: Put one third of your possessions in storage. Get a stager or get Starr Osborne's book Home Staging That Works. Sit with your realtor and look carefully at the homes in your zip code that have sold. Consider offering buyers' agents a higher commission: 3.5% or 4%.
  • February 26 2011
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If you live in a rural northern state with a five month winter, the six month listing might not do it. Homes, real estate sell in the winter months but as a rule, slower sales time. A period when real estate brokers gear up with inventory to have the offerings for green grass, warm sun time. If a place is realistically priced, marketed aggressively and not just to the local market, those listings sell. If short supply of just like it, that short suited real estate type will become more attractive, sought after by home tire kickers.
  • February 26 2011
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The good houses, in good condition and priced well, are on the market for the least amount of time.  Depends on your market, but in general, the longer they're on the market, there's a higher chance there's a problem with the location, the condition, or the price (or all three!)
  • February 26 2011
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