Can You Sell Your Home in Less than 50 Days?
The demand for houses is slowly increasing, as more homebuyers are looking to shift from renting to owning their homes. This comes as good news for home sellers, but does this mean you can sell your house in less than 50 days?
The answer is yes, but this depends on a number of factors. Realtor.com gathered several data from their listings and found patterns suggesting that certain features help sell a home faster than others in the real estate market.
According to the publication, Spanish-style homes were surprisingly found to be the fastest selling houses in the market. While there are only a handful of listings available with this certain feature, these homes only spent an average of 47 days on the real estate market.
The style, however, does not seem to be the only appealing factor, which attracts buyers into getting one. Realtor.com noted that most of the Spanish-style houses in their listings were located in California's coastal cities.
This is where location enters the picture. Most home sellers know that their house's location greatly determines their house value and how quickly they can find a buyer for their property.
The publication further stated that those listings, which were located near top universities and schools only stayed on the market for 76 days. Those houses near hospitals, while often convenient in case of emergencies, stayed the longest on the market for 95 days.
Your furnishings and appliances may also have something to do with how quickly you can sell your house on the market. The publication noted that more people are drawn to houses with stainless steel appliances in them.
While all these factors help determine how fast you can sell your house on the market, now may be a great time to finally list your property. As previously reported here on Realty Today, there has been an increase in home sales this 2016.
There also seems to be a shortage in the number of houses for sale on the market, which could possibly mean higher prices as the demand increases.