A question that I often get asked is how quickly will my home sell? Great question!
One of the factors that will affect this is actually the market climate. In a HOT market, where there is limited inventory, meaning there are more buyers than homes to purchase, you can sell your home in a day, although I highly recommend allowing the home to have proper marketing time so that you can receive the most amount of offers with the best terms. You WANT buyers to compete. If there are more homes on the market than buyers, then you can expect a little longer for the home to sell. It’s really important to look at the absorption rate in determining timing. Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes. According to Investopedia <https://www.investopedia.com/terms/a/absorption-rate.asp> a “Sellers Market” would have an absorption rate that equals more than 20% and a buyer’s market would have an absorption rate lower than 15%. I personally feel that those numbers are a bit to vast and right now in today's market if we are seeing a home take longer than 60 days to sell, then it is overpriced.