How Long is Too Long on the Market?
So you've put your home on the market with plans to move on with bigger and better plans. Much to your dismay, your home sits on the market longer than expected and worse with little interest. So how long is too long to be on the market? What can you do to find a buyer?
Condition, location, timing and price all play a roll in determining the level of interest buyers have in your property. How long is too long on the market will depend on local market conditions. Homes sitting longer than average for the local market may need to reduce their price or come off the market for a short time.
If your real estate agent has done all they can to market your home then it may be over priced. Remember, buyers are not interested in what you want to sell for. They are only interested in what they are willing to pay. If buyers are not willing to pay your price then your price is too high. It really is that simple. It's frustrating to sellers but price is really what it comes down to. Is a buyer willing to pay what you are asking relative to other homes on the market in their price range? Do the flaws out weigh the benefits for the price (no home is perfect)? You may think so but that doesn't mean a buyer agrees. Listen to the feedback of buyers and work with your agent to reduce, remove or compensate with price and you stand a good chance of your home selling in a reasonable amount of time.