During this past summer, nearly half of the homes listed found a buyer within a month. The median days on the market nationwide was about 34 days from April to August.
But as the days of winter approach, home sellers should be prepared to face a longer process. It takes about 20 extra days to find a buyer in the winter — so about 50 to 60 days. In the fall months, it can take about 40 to 50 days. And if the home is a short sale, the median days on the market can bloom to 130 to 150 days to complete the deal, regardless of the season.
Even though there will be fewer buyers in the market in autumn and winter, the inventory of homes also shrinks during these periods. Some homes are taken off the market during these months and much fewer new listings come online over the winter holidays.
As competition decreases, buyers can expect to pay about $1,100 less, on average, for the same home in the winter compared to the busier summer months.
Call me now to get your home sold before the holidays.