Seller Tips September 14, 2023

How Quickly Will Your Home Sell?

Are you thinking of selling your home?

If you are thinking of selling your home in Santa Clarita, you might be wondering how fast it will sell. The answer depends on the current market conditions and how well you price and market your home. In this blog post, I will share some insights from my experience as a Realtor with Fitz4houses, at Century 21 Everest.

The market climate is the main factor that determines how quickly your home will sell. When there is high demand and low supply of homes, you can expect to sell your home in a matter of days or weeks. This is called a seller’s market, and it means that buyers are competing for the limited inventory of homes. However, even in a seller’s market, I advise my clients to give their home enough marketing time to attract the best offers and terms. Sometimes, selling your home too fast can mean leaving money on the table.

On the other hand, when there is low demand and high supply of homes, you can expect to sell your home in a matter of months or longer. This is called a buyer’s market, and it means that sellers are competing for the limited number of buyers. In this case, you need to price your home competitively and market it aggressively, with Digital Marketing in order to stand out from the crowd.

One way to measure the market climate is by using the absorption rate. This is a statistic that shows how fast homes are selling in a given area and time period. It is calculated by dividing the average number of sales per month by the total number of available homes. For example, if there are 100 homes for sale and 20 homes sold in a month, the absorption rate is 20%. According to Investopedia, an absorption rate above 20% indicates a seller’s market, while an absorption rate below 15% indicates a buyer’s market.

However, with the interest rates increasing for 10 straight months and then wavering with weekly uncertainty, buyers are holding their cards close and some are plain folding!  Yet we have the lowest amount of homes on the market since almost 20 years, so this is not the typical “seller’s market”!

When I meet with you to discuss selling your home, I will analyze the absorption rate and other market data to help you determine the best price and strategy for your home. I will also share with you my proven marketing plan that will expose your home to the most qualified buyers and generate the most interest and offers.

If you are ready to sell your home in Santa Clarita or any other area in Los Angeles County, contact me so we can get a game plan together.  I look forward to helping you achieve your real estate goals.