If you're thinking of putting your home on the market this year, it is helpful to get an idea of your time frame. Once the For Sale sign is posted in the front yard, how long will it take to sell your house?
The average length of time on the market in Haverford, based on current pending sales, is 90 days, or 3 months. However, keep in mind that market time varies depending on a few factors.
-Sale Price: Sellers may feel that their home has a certain value, or they may want a specific dollar amount from their sale to fund their next home, pay debts, or fill a savings account. However, the market dictates the appropriate value for a property. Homes that are over-priced linger on the market. On the flip side, homes that are priced below market value will sell quickly, but the seller will lose some potential profit.
-Type of Sale: Foreclosures and short sales (distressed properties) often spend more time on the market before going under contract. A short sale tends to be a complicated transaction, since the mortgage holder (the bank) must approve the final sale price and other terms. Foreclosure sales are generally more cut and dry, but condition issues may turn away buyers who are looking for a move-in ready house.
There are, of course, other factors that may cause a house to sell more quickly or slowly. Size, layout and design, location, tax rate and condition will all influence a home's attractiveness to buyers. If you have any questions regarding your home's desirability in today's market, please get in touch!
All the best,
Michelle Cross Smith, Realtor
Century 21 Alliance 3012 Township Line Rd. Drexel Hill, PA 19026
Office: 610-449-6006 Cell: 610-506-1505 Michelle@Century21.com
