Jan
07

How Long Will it Take to Sell Your Home? Raleigh Jan. 2013

By

Does media provide feel for how long it’ll take you to sell your home?  Not really since data is national in scope.  Here’s 2-year trend specific for Raleigh.

When we put our home for sale, we’re ready for the buyer to pull to the curb money in hand and make an offer.  Unfortunately, buying/selling real estate takes a while.  Knowing local trends help you plan and provides basis for realistic expectations concerning your real estate agent.

What information does media provide?  In my experience, it’s usually a comparison between the current month and the prior month or the current month compared with the same month a year ago.  Of greater benefit is a full 2-year trend line for homes in your price range.

Because all real estate markets are local, this data reflects the local housing market in Raleigh, NC.  National data doesn’t help you very much should you be considering either selling or buying a house.  In response to that need, I present you the following market analysis.

How long does it take to sell a home?

Market divided into four groups:
Red Line: Represents Most Expensive Homes
Orange Line: Represents Upper Middle Segment of Market
Green Line: Represents Lower Middle Segment of Market
Blue Line: Represents Least Expensive Homes

Summary:  All homes are edging downward for the long term.  Most expensive homes experienced their sharpest reduction but they still take longer to sell than less expensive homes.

Chart shows that it takes longer to sell homes during winter months.  Note that the average time on the market dropped more after the winter of 2012 than it did in 2011.

It will take an average of five months to sell your home.  The exception is higher-priced homes.  These homes average closer to six months.  Overall, improvement seen across the board.

Numbers are averages.  This means some homes sell more quickly and some take longer.  Real estate agents advise that aggressive pricing helps homes sell faster.

Kathy Godin, Branch Manager & Award-Winning Loan Officer
(919) 789-9888
Where people, not computer robots, answer the phone.
Proudly Serving All of North Carolina

License Verification Notice Code
To verify licensing please visit:  www.nmlsconsumeraccess.org