You want to sell your house quickly and might be curious about the duration of the entire process. One effective solution? Collaborate with a local real estate agent.
They possess the expertise to inform you how swiftly homes are selling in your area and what factors are influencing other sellers’ timelines. This way, you can set realistic expectations and jointly develop a plan based on the current market conditions.
Here’s an overview of just one of the key factors a great agent will explain – the supply of homes for sale and how it impacts your selling process.
The Increasing Supply of Homes for Sale
In recent months, the number of homes on the market has risen. This is advantageous for you as you move because it provides more options when searching for your next home. However, it also means that buyers have more choices, so if your house doesn’t stand out, it might take longer to sell.
The available inventory consists of new listings and active listings. According to data from Realtor.com, a significant portion of the recent increase comes from active listings that are lingering on the market (refer to the blue bars in the graph below):
It’s Impact on Current Listings
Imagine the homes on the market as loaves of bread in a bakery. When a fresh batch is put out, everyone wants the newest, hottest loaf. However, if a loaf sits for too long, it becomes stale, and fewer people want to buy it.
The same principle applies to homes. New listings are the freshest and most sought-after. But if a home isn’t priced correctly, doesn’t show well, or lacks an effective sales or marketing strategy, it can linger on the market and become less attractive to buyers over time.
An Agent Will Help Your House Stand Out and Sell Quickly
Timing is crucial for you—you want to sell your house quickly. By relying on a professional, they’ll ensure your listing remains fresh and doesn’t linger on the market. As the National Association of Realtors (NAR) notes:
“Home sellers without an agent are nearly twice as likely to say they didn’t accept an offer for at least three months; 53% of sellers who used an agent say they accepted an offer within a month of listing their home.”
Your agent will incorporate the recent inventory growth into their plan and develop a customized selling strategy for your house. Since the supply of homes for sale can vary significantly by area, they’ll provide valuable insights into your market, help you price your home correctly, and create a marketing plan that ensures your home gets noticed.
Don’t let your listing become stale—reach out to a real estate agent today to keep your listing fresh and appealing to buyers from the start. It makes a significant difference.
Bottom Line
If you want to sell your house quickly, it’s essential to work with a professional. Let’s connect so you have an expert who understands current market trends and can develop a strategy tailored to those factors, ensuring your house sells fast.
