As a home seller, there are five factors that will determine how long your home stays on the market:
1. Location. For example, how close is your home located to a busy street or a major transportation hub like the Metro Rail? This factor plays a huge role.
2. Price. You have to be careful about overpricing your house, as this can discourage buyers from visiting it in person. You could also run into appraisal issues down the road.
3. Inventory. How much inventory is in your neighborhood? If there’s too much, it makes more sense for you to sit on the sidelines and see how the market plays out. If there’s not enough, the ideal time to put your home on the market is right away.
4. School districts. They may not be important to you now, but that might change down the road. You can always go online and see how highly rated your area’s school district is.
5. Walkability. Being within walking distance of a Starbucks or a Trader Joe’s can make a big difference in a buyer’s decision.
If you have any more real estate questions or you’re thinking of buying or selling a home soon, don’t hesitate to call or email us. We’d love to speak with you.
