Over 5 million existing homes sold in 2020, a number that shattered projections when the pandemic hit. The speed at which those homes sold varied. This is, of course, always the case as there is no standard operating window when it comes to home turnaround times.
With that in mind, a lot of confusion circulates around the popular question, “How long does it take to sell a house?”
While we can’t answer that query definitively, we can share several factors you can look at that will help you frame whether or not your selling process is likely to be fast or slow.
Keep reading to discover affecting factors so you can be prepared!
Market Conditions
The number one factor that’ll affect the amount of time your house sits is the broad health of the real estate market. Is you market a buyer’s market or a seller’s market? Is there a demand for properties or are people not looking to move?
The more of a seller’s market it is the fewer houses will sit given that you’ll find more offers.
If you’re curious to know if 2020/2021 is a market that’s conducive to selling, you’ll be glad to know that the answer is yes. As a matter of fact, housing inventory has all but run out in certain areas.
Location
No matter what the market at large looks like, you’ll need to consider factors linked to your local market in order to better answer your how long does it take to sell a house questions.
For example, selling a house in a densely populated area in California could take less than a week from list to sale with an all-cash buyer (more on those in a second). Comparatively, selling a house in a sparsely populated, unincorporated city in Nevada could take months to sell, if at all.
You can learn more about your city’s moving/buying trends on city-data.com.
How You Choose To Sell
How you choose to sell your house is one of the most glossed over aspects of the speed at which houses sell. There are two avenues you can take here.
For starters, you can sell your home to traditional buyers that are backed with bank financing. These deals can take up to 2 months to close seeing as how banks will scrutinize buyer’s financial situations and your home’s efficacy.
For a speedy transaction that can close in as little as a few days, consider approaching a sell my house fast buyer. These investment-oriented purchasers use private money that is not subject to bank scrutiny making transactions flow quickly.
Your How Long Does It Take to Sell a House Questions Answered
The how long does it take to sell a house question is one that no blog post or person can answer with absolute confidence. Coming to a conclusion means playing a game of inferences that account for several factors including the condition of your home.
You can look at recent area averages here as a jumping-off point for select cities. We also welcome you to explore more content on our blog if you’d like to learn about additional contexts that affect home sales.
