How Long Does It Really Take to Sell a Home in Today’s Market?
From the moment you decide to sell your home until you hand over the keys at closing, it’s impossible to know exactly how long the selling process will take. Not only do you have to navigate certain steps, but some things can go wrong, adding expensive, inconvenient delays to the closing process. The same is true for your buyers and their team. They can either move the transaction along, or hinder it.
So how do you plan for a successful outcome? By doing the most you can that’s within your control.
Preparing to sell
Examine your finances. A quick look at your loan balance can tell you how much equity you have. Subtract estimated closing costs and seller expenses to better understand your potential proceeds. Set priorities. Why does your current home no longer meet your needs, and what do you hope to accomplish by selling?
Pick your team. Your Berkshire Hathaway HomeServices Colorado Real Estate agent can help with your timeline, point out areas to improve for curb appeal, and provide a comparative market analysis to help establish an effective list price. Declutter and deep clean. Empty closets, built-ins, and tabletops of clutter and unused or unwanted items.
Track your listing
The clock starts ticking as soon as your listing agent inputs your home into the local multiple listing service (MLS). Days on market (DOM) measures the time between when a home is listed and when it goes under contract or is removed from the market.
Generally, a shorter DOM suggests strong buyer demand, while a longer DOM may indicate that buyers are proceeding more cautiously. DOM varies significantly by market, price point, and location. Luxury, rural, or highly specialized properties often remain on the market longer than homes in densely populated areas. The first few weeks after listing are often critical. Limited showing activity or a lack of offers may signal that pricing, condition, or marketing adjustments are needed.
Other selling timeline wild cards
Buyers can either pay cash or get a mortgage, which comes with several hurdles before closing. The buyer typically has about one week to 10 days to have your home’s structures, systems, appliances, and fixtures professionally inspected. The inspection may reveal unexpected issues that need to be fixed before the transaction can move forward.
The buyer’s lender will also require an appraisal. If the appraisal does not meet the contract price, the buyer may have to bring more money to closing, or you may have to lower the price.
Meeting buyers’ expectations
There’s a lot you can do to prevent the sale from taking too long or collapsing. Price it right from the get-go. Don’t “test” the market with a high price that isn’t supported by comparable data. Provide a move-in ready experience. If you haven’t completed needed touch-ups, repairs, and maintenance, buyers either won’t make an offer, or their offer will be low. Location matters, but buyers will compromise if the price and condition are right.
Every home has its own timeline. Your Forever Agent® can help you prepare thoughtfully, price strategically, and respond as the market unfolds with guidance based on your goals and what’s right for you. Call 303-905-8850 or visit BHHScoloradorealestate.com.
