When you’re thinking about selling your house, you undoubtedly have many questions on your mind. One of the first things clients inevitably ask us is how long it will take to sell a house
Since every situation is different and the market is always changing, there is never a neat and concise answer. Even the most informed expert can’t say for certain that a specific house will sell in “x” amount of days.
As always, it will depend on how many buyers there are in the market at any given time, what they are looking for, and how all of this fits into your selling strategy. Let’s take a look at what you can expect in various circumstances.
Take a Look at the Market
Looking at the bigger picture is always a great way to begin forming your strategy for preparing your home for the market. It can also give you an idea of whether you can expect a fast sale or if you’ll need a little more patience. There are three main scenarios to be aware of.
- A Seller’s Market: When there are plenty of buyers and few available listings, it can be reasonable to expect your house to sell quickly.
- A Buyer’s Market: With more listings than buyers, you may need to work harder and be more patient when selling your home.
- A Balanced Market: There are approximately the same number of buyers and sellers. On paper, it should simplify things, but the reality can be very different. Whether your house sells quickly or slowly depends on your strategy and what types of buyers are searching.
Real estate is nothing if not nuanced. Challenges can arise even in the most advantageous of situations, and there can be hidden opportunities during slower markets. An experienced real estate agent will help you make the most of the situation no matter what is happening.
Is a move coming up for you? The posts below can help you plan for a seamless transition:
- Our Top Tips for a Streamlined Move in Toronto
- Five Real Estate Myths: Busted!
- For Sale By Owner: Should You Sell Your Home Without an Agent?
Fast or Slow is Relative
One of the reasons we can’t promise a fast sale is that the entire term is relative. Someone might consider a sale within 30 days to be mind-boggling quick, while to others, it seems like an eternity.
The speed of your sale is also primarily driven by the market. If your sale takes 30 days during a hectic market where the average is two weeks, it could actually be considered slow. If the average number of days on the market is 45 or more, 30 days is impressive.
Lastly, the number of days on the market only tells a fraction of the story. Imagine one house sells almost immediately after being listed, whereas another takes a few weeks.
The real question is in how much work went into the background before the “For Sale” sign went up and the listing appeared on the MLS®. That homeowner who sold within a day or two may have worked for months to prepare.
Why Selling as Fast as Possible Matters
If you’re not racing against the clock to sell your home due to extenuating circumstances, does it really matter how long it takes? It can, for reasons that you may not expect.
Even if you have all the time in the world, you likely still want your house to sell quickly once it hits the market. This allows you to capitalize on all of the excitement and buzz around your listing while it’s still new. The best offers tend to come during the early days.
This is your window of opportunity to maximize the value of your home and earn top dollar. The longer your listing remains available, the more that novelty wears off. A slower sale can mean fewer offers and a lower price.
You don’t necessarily have to successfully sell your home within a specific number of days. If you beat the average, or at least come close, you stand a good chance to make the absolute most of your transaction.
Looking for even more tips to sell your home with as little fuss as possible? The posts below can help:
- Secrets of Selling When the Market Is Not on Your Side
- Is Staging Your House to Sell Still a Good Idea?
- What You Must Disclose When Selling Your Toronto Home
Tips for a Fast and Profitable Home Sale
Now that you know how a fast transaction helps, what can you do to make it happen? The first step is to begin your planning as early as possible. When you have time to upgrade, declutter, and stage your home to perfection, you can hit the market with peak excitement.
Taking months or even a year or more to prepare isn’t a problem in advance. The clock only begins ticking once your listing goes live and buyers start to take notice.
- Get in touch with a real estate agent who can help you form a winning strategy right from the beginning.
- Together, you’ll decide what upgrades will give you the best return for the least amount of time and money.
- It’s never too early to start cleaning and decluttering. Maintaining the effect is easier than achieving it in the first place, and it’s less overwhelming when you don’t feel rushed.
Once your house is clean and all upgrades are complete, staging can give you an extra edge in appealing to potential buyers. Strategic design has proven to lead to more offers, often at higher dollar amounts than unstaged homes.
Personalized guidance is your ultimate resource when selling your Toronto home. Get in touch with us today, and we are happy to help you make the most of your sale. Reach out to us at erica@ericareddy.com or call 416.443.0300 to learn more.
Meet The Erica Reddy Team
Find out how our specialized skill sets and extensive Toronto market expertise empower your real estate venture.
