Homes for sale in 2023 are sitting on the market longer than they were in 2021, and that’s normal for the current market. However, some homes might be sitting on the market longer than necessary due to factors in the seller’s control. Today, I am going to discuss three of those reasons.
With the current real estate market slowing down and approaching something more normal, we are seeing homes sit longer on the market than the past 2.5 years. Even so, housing inventory is still low which in turn increases demand and consequently sustains higher home prices; however, sellers who continue to demand 2021 prices need to take caution.
This brings us to our first reason why a house might sit on the market, and that’s because it’s overpriced. Even though the market may still be tipped in your favor, if the price is too high, it may not even appear in a buyer’s search. Pricing the home right is so important. An experienced, full-time, professional real estate agent will know the market and know the best price-point to list your home at.
A 2nd reason a house sits on the market is due condition. The house needs to be in the appropriate condition that reflects the pricing. There is nothing wrong with selling your house “as-is”; however, you need to make sure that it is priced accordingly for that condition.
A 3rd reason a home might sit on the market deals with exposure. An experienced real estate agent knows the importance of good marketing, especially online marketing. The quality and quantity of images, the property description, and where it is listed all make a difference in how fast a home sells and for how much. This is why we have our own in-house marketing team on site. Every home is different and having a custom marketing strategy is key in presenting that home in the best way possible. In addition to being customized to your home, a good marketing plan is customized to your area. It will not only highlight the particular benefits of living in your community, but it will be tailored to buyers who are interested in moving to the community. Having our own in-house marketing team of professionals ensures I have 100% control over the quality of our seller’s photos and marketing, so that they get the best possible experience.
There can be many other reasons why a home might sit on the market as well: home repairs, pets, curb appeal, and staging are a few, but the 3 main reasons I’ve encountered the most are the 3 I’ve discussed.
So if you’re a motivated seller and you’re ready to get your home sold, give me a call! My team and I are on standby 7 days a week, 9 am to 8 pm, ready to help you take the smoother road to sold.
SOURCE: https://journal.firsttuesday.us/10-reasons-your-sellers-listing-will-sit-on-the-market/61457/
SOURCE: https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/
SOURCE: https://tarteam.com/market/why-marketing-your-home-for-sale-is-more-important-than-ever/