During the pandemic, normal seasonal patterns virtually disappeared from the housing market. There was so much demand for homes that any time was a good time to sell. Now that the market is stabilizing a bit, timing is once again becoming an important consideration for home sellers. Depending on market conditions at the time of purchase, homeowners may find themselves “upside down” on their mortgage loan, owing more than their home is worth.
At the same time, they should be able to discuss new ideas for marketing their home and attract new buyers. The average time it takes for New Jersey homes listed in May to sell in May is 28 days, 13 days faster than the annual average. However, if you haven't displayed your property for weeks, your home may be for sale for too long. A second factor that determines if your home has been on the market for too long is whether you're already paying for your next home or not.
The Houston-Galveston market also saw an increase in demand for homes with pools from January to September and an increase in the search for vacation homes and Airbnb in Galveston during the months of February to October. If you've had a home on the market for six months or more in most markets, then it's time to take a closer look at the house and see why it might not be selling. Pennie Carroll, one of the top real estate agents in Des Moines, Iowa, says the amount of preparation time varies depending on the amount of work and maintenance the landlord has done in the past, but she estimates an average of about a month to prepare the house. If you choose to keep your home for sale, you'll have to decide if you want to stay with the same agent or select a new one.
If your agent isn't communicating well, isn't promoting your home properly, or is giving you bad advice about pricing and staging, look for a new one. If the home has been on the market for too long compared to other homes, buyers may wonder what's wrong with the house so it doesn't sell. To determine the premiums or discounts that sellers received on a given day, ATTOM Data Solutions compared the average sales price of homes with a purchase that was closed that day with the Automatic Valuation Model (AVM) of those same properties at the time of sale. How you price your home will largely determine if your home goes off the market or stays interest-free for months.
The best time to sell a home for the most money seems to be March, when homes sell 2.2% more than the annual average. Real estate professionals and home appraisers use compensation as a reference point for the home in question and then adjust in dollars based on competitive differences.
