Three reasons why your home isn’t selling and what to do about it.
Has your home been difficult to sell? Today, I’ll explain what’s going on if your home hasn’t sold yet. As we move into summer, it’s no surprise that more homes come up for sale, increasing the inventory. Typically, in April and May, we see enough inventory to keep homes selling quickly. However, as summer progresses, we often see a bit of a slowdown. So, it’s essential to mentally prepare for this and discuss with your agent what to expect regarding time on the market.
I want to take this opportunity to explain that the time on the market is creeping back up to historical levels. If you’ve sold a home in the past, you may be familiar with this, but generally, you can expect 30 to 60 days, depending on the season and market conditions, for your home to sell. Two years ago, homes were selling in three to six days, but this is no longer the case. So, adjust your expectations accordingly.
Now, why isn’t your home selling? Here are some tips to consider:
1. Price. The first thing to always check is the price. Ensure your home is priced correctly. If your home has been on the market for a month or two, it’s important to reevaluate the market. Verify that homes in your neighborhood are still selling at expected prices and adjust yours accordingly. Home values change daily, so if it’s been a while, reassess your price.
“A spotless home sells quicker and for more money than its neighbor, even if they are in the same condition.”
2. Condition. Next, look at the condition of your home. This includes curb appeal and those small maintenance tasks like cleaning up scrapes and scratches. Most importantly, focus on cleanliness. I always suggest my clients hire a professional cleaner to tackle all the nooks and crannies. No matter how well you think you’re cleaning, a professional touch can make a significant difference. A spotless home sells quicker and for more money than its neighbor, even if they are in the same condition.
3. Marketing. Finally, reexamine your marketing strategy. When your home first hits the market, it receives the most exposure. As time goes on, this exposure decreases. Discuss with your agent about re-engaging more exposure on various websites, social media platforms, and targeted marketing. Ensure they are actively reaching out to individuals who have shown interest in your property.
If you have questions about any of this, whether you’re listed with one of our agents or not, just reach out. Give us a call!