In the latest sales numbers from the Sacramento Association of REALTORS(r), is a chart explaining how long homes stay on the market. Take a look:
Note that in March, 2017, around 75% of all homes sell in the FIRST 30 days. The odds drop quickly after that. The report also points out that the MEDIAN number of days on the market is only 10! That means half of the homes sell in 10 days or less and the other half take longer.
Bear in mind, we're in a very strong seller's market with almost all of our inventory selling every 30 days. How is it possible that some homes don't sell quickly or stay on the market for a long time?
It's because of the mindset of the seller or their agent. They expect the home to be on the market for months. So the home may be hard to show, over priced or not in very good condition.
However if you go on the market with the belief that the home will sell in the first 30 days and probably in the first 10 days you may view things differently. Especially when it's apparent that most Sacramento area homes sell for very close to their asking price. (It stands to reason that if the home has not sold in 30 days, a re-thinking of the marketing strategy may be in order).
This is why we've had good success with our 30 day marketing plan. The plan organizes matters so that the odds of a fast sale increase dramatically.
This is particularly critical in the first 10 days on the market. It's during this time that computers alert real estate brokers and agents and their clients that a house matching their criteria has just come on the market. Knowing how hard it is to find matching properties, the brokers and their clients take action quickly to view the home and submit an offer usually close to full price, if it's reasonable.
If there are several interested parties who submit offers at the same time, the pressure is on to submit their highest and best price and terms. This creates upward pressure on the sales price. I know it sounds strange, but now you see why the faster the home is sold, the greater the odds of getting a top market price.
Our 30-day action plan includes a carefully chosen asking price, a plan to get the home into top shape and a method to get information about the property out quickly so interested buyers will know it's for sale.
If you'd like to explore this strategy with the sale of your home, please call David Jurewicz REALTOR(r) (00661096) of RE/MAX Gold today at 916.682.6454.
Oh, and one more thing: Even though we're in the midst of a strong home seller's market, we may not know how long it will last. This video encourages you to take action sooner rather than later while times are still good for home sellers: GO HERE to watch the video.