How long will it take to sell a home is a key question asked by every seller during the listing presentation. The answer usually depends on price. If you price too high, not only will it take longer to sell, but you will typically get less money for the home than it is worth. Listings that languish in an overpriced status typically get “low-ball” offers from buyers. The longer on the market, the lower the offer. The old strategy of pricing high and hoping for the best typically yields the worst results.
The best strategy for pricing a property is pricing low. Not only will you sell the home in a shorter time frame, but the value pricing is likely to attract bidders who over bid the listing price or who will pad their bid with fewer contingencies. It sounds counter productive, but pricing below market attracts far more interested buyers and a higher sale price.
Regardless of your pricing strategy, you should know what to expect.
Most homes sell in 30 to 60 days.
This is followed by 60-90 days, then oddly, 120-180 days. 90-120 is awfully close behind.