Why do houses sit on the market for so long?

Aside from the price, what are some of the reasons why a seemingly desirable home would remain unsold for 24 months? Any “found” problem, such as mold, would have to be related to disclosure, right? I researched crime, death, zoning, etc. At the recent annual conference of the National Association of Real Estate Publishers in Washington, I learned how localized home sales markets can be. Some markets are booming (this is called a seller's market, where there are more qualified buyers than there are homes available for sale). But there are other local buyer markets with more homes for sale than qualified buyers.

Even in today's tight inventory market, where most homes sell quickly, a small number of homes stay on the market for weeks and then months. Remember that the listing price is only a starting point for negotiation and not necessarily why the house will eventually sell. Most of the time, when a home stays on the market for too long, it's because it has a serious problem that needs to be addressed, such as inflated prices or necessary upgrades. Because the pool of qualified buyers is usually smaller, these homes can stay longer without diminishing their perceived value.

You're ready to move to a new property and therefore you need to sell your house quickly in today's market. We left the house a bit, but it was custom built, a third agent knew the area and we immediately sold it to someone looking to live in the mountains. That “for sale” sign in the yard is cost-effective marketing to me, compared to other lead generation things that I waste money on. The buyers realized that they didn't have time to think about whether or not they were offering a house because in the meantime, another buyer was starting to look for it.

Maybe your home is in a local buyer's market, requiring an extraordinary effort on the part of your sales agent to sell it. Or, because of the cost of some drywall and paint, sellers can fix it before showing the house. If you've had a home on the market for six months or more in most markets, it's time to take a closer look at the home and why it might not be selling. It may have just been too expensive, I've seen houses that look nice, but the seller dreams about the price, sometimes they become realistic and it's time to jump into it before anyone gets it.

If you're tired of trying to sell your house and need to sell it quickly in today's market, consider selling it to HomeGo. A second factor that determines if your home has been on the market for too long is whether or not you're already paying for your next home. The house's square footage, curb appeal, and neighborhood supported its selling price, but when you walked in it was disappointing. If you're interested in a house that's been on the market for a long time, don't rule it out just because of the number of days on the market.

Lara Michocki
Lara Michocki

Incurable internet scholar. Certified music ninja. Amateur web guru. Professional web buff. Passionate internet fan.

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