How Long Will It Take To Sell My House?
To figure out how long it should take to sell a home, I use a formula that will calculate the absorption rate of each neighborhood. Knowing the correct absorption rate for the neighborhood will help the seller determine a realistic asking price for their home.
The absorption rate formula is based on past sales, days on market, and the amount of houses currently for sale in the neighborhood/area. This information tells us how many months supply of inventory is presently on the market, and therefore provides us with information that indicates just how many months it may take to sell a particular home.
A 6 month supply of inventory is telling us that it may take a full six months or more to sell the house. In addition, a 6 month supply is considered a balanced market, but anything over 6 months indicates there are too many houses and too few buyers, indicating it may take up to a year or more to sell the house.
A seller whose house falls into the category of 6 months or more should be willing to position their house, in terms of price, condition, and incentives, in a way that will give them a distinct advantage over their competition.
Sellers have different needs, motivations and desires which typically determines how aggressive they should be on their asking price. In today's challenging real estate market, because sellers are in a price war and a beauty contest at the same time, it takes aggressive pricing and staging to show the home at it's best. If you would like to discuss the absorption rates for homes like yours, call or email me. I want to be your real estate resource.
leslie edwards Environmentally Aware, Socially Conscious, Politically Active, Real Estate Agent 770.460.9448 CDPE Certified Distressed Property Expert CRS Certified Residential Specialist Epro Certified Internet Professional ABR Accredited Buyer Representative GRI Graduate of the Realtor Institute Dave Ramsey Endorsed Local Provider
Selling South Metro Atlanta including:Clayton, Fayette, Henry, Coweta, Merewether, South Fulton & Spalding Counties
All the towns and cities south of the Atlanta International Airport, including: Brooks, College Park, Fairburn, Fayetteville, Jonesboro, Locust Grove, McDonough, Newnan, Sharpsburg, Stockbridge, Palmetto, Peachtree City, Tyrone and more Moving Families Since 1978 Let My Experience Work For You fax: 770.460.0739 See all of the properties for sale in the Multiple Listing Service at www.SouthMetroAtlantaMLS.com .com leslieedwards@leslie RE/MAX Around Atlanta.com/blogleslieedwardswww.
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