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When you decide to sell your home, how long will your home be on the market?
It’s a good question, and the answer largely depends on location. For the first half of 2014, the average Union County home was on the market for
The homes in Linden, Union, Rahway, and Garwood took much longer than the average Union County home to sell. Homes in Cranford, Mountainside, Westfield, and Clark were the fastest sellers in Union County for the first half of the year.
How does this compare to last year?
The real estate market in 2012 and 2013 was very different from this year because buyers and sellers were beginning to recover from a recession. In 2014, the economy has stabilized somewhat and the housing market has adjusted.
Some towns, like Cranford and Springfield, saw homes selling a full month quicker this year than last year. Clark , Kenilworth , Linden, and Westfield also sold more quickly this year. Scotch Plains and Rahway saw very slight gains in speed.
Other towns, like Garwood, saw homes selling nearly a full month slower this year as compared to last year. Homes in Union didn’t see a noticeable change in Days on Market from 2013 to 2014.
How does this affect you?
If your town has slower selling homes, you need to make sure your home is in the best market condition possible and you need to price it competitively to attract buyers.
Which towns changed the most?
Cranford and Springfield homes decreased their selling times the most, and Garwood’s selling time increased the most when the first halves of 2013 and 2014 are compared. How does this affect prices?
When you’re ready to buy or sell a Union County home, please contact us for more information!
Dear Team Zuhl,
We want to sell your home in Union County. We’ve read your market trends posts and we know that some towns sell faster than others. But when should we list our home so that it sells the quickest?
Does WHEN we LIST our home affect how QUICKLY we SELL our home?
– Hurry Up Harry
Some people need to sell their home fast – maybe they need the cash for an emergency, or maybe they’ve been relocated. They need to price the home low and market aggressively. But if you just want to minimize the inconvenience of having you home on the market for a long time, then timing is very important.
When you list your home absolutely affects how quickly you sell your home!
When we look at the data from the past several years, we see that the average time a home spends on the market varies from month to month.
It shows the length of time it took to sell a home that sold in each month of the year. Some months have shorter Days on Market than others – for example, the average home that sold in May was sold after 67.4 days on the market. That means it was listed in March. The average home that sold in October was sold after 68.8 days on the market – that means it was listed in August.
Other months have longer Days on Market. The average home that sold in January over the last several years was sold after 102.8 days on the market – that means it was listed in September. Homes that sold in February were listed 99.3 days before February – October.
Having said that, there seems to be a correlation between the DAY of the week that you list your home and how quickly it sells. Homes listed on Fridays sell quicker than homes listed any other day of the week – perhaps because listing on Friday gives your agent enough time to get the home marketed befoer Sunday which is the busiest day for home shopping. Homes listed on Tuesdays get the most web views – on-line home buyers seem to hit the internet mid-week.
Useful Links on How to Sell Your Home:
Some people want to sell their homes quickly – maybe they’ve been relocated or maybe they need the cash out of their home for an emergency. If you want or need to sell faster than the average, there are 4 quick and easy steps you can take now to ensure that your Union County home sells as quickly as possible:
- First, if there are any repairs necessary in your home, make them now, before you list the home. Things like leaky plumbing, stained carpet, or broken windows need to be in working condition before you show your home.
- Educate yourself on the home selling process. Here is a link to a free video called “Preparing your home to sell.” It’s filled with information that can help you make decisions about what to do.
- The next step is to choose a professional to market your home. Most sellers hire the first agent they interview, while others continue looking. You want to choose an agent that you trust because they will be your representative in negotiations in what may be the biggest financial decision you ever make. You also want to make sure that your agent has a vibrant marketing plan.
- Price your home properly. Your real estate agent can help you determine the appropriate price by using a Comparative Marketing Analysis (CMA). You’ll want to sell it slightly below market value to generate as much interest as possible in the property.
Of course, once your home is on the market, you’ve got to keep it immaculately clean and make it available for potential buyers to see it.
Team Zuhl is here to help you every step of the way. Please call or email us when you’re ready to get your home on the market! Good luck!
For more information on selling a home:
When you put your home on the market in Union, you should be ready to move quickly. Nearly all of Union County saw a marked decrease in the average Days on Market of a sold home in 2013 as compared to 2012, and the average home that sold in Union County in 2013 sold in fewer than 75 days as compared to an average of 88 days in 2012. Certainly, location within Union County had some effect on this as well, so here is the breakdown by town:
Westfield, the fastest selling town in 2012, continues to sell faster than 2012 but not as quickly as Garwood, Mountainside, Fanwood, and Cranford. Rahway, the slowest selling town in 2012, is now faster selling than Union and Linden.
When we combine these two graphs, we see how each town’s Days On Market changed from 2012 to 2013.
Twons like Mountainside, Fanwood, Clark, Scotch Plains, and Rahway saw dramatic improvements in selling times whereas other towns like Westfield, Garwood, and Kenilworth only saw small improvements. Interesting to note that only Linden saw an actual increase in selling time from 2012 to 2013. We recently published the 2013 End of the Year Real Estate Market Report for Union County in which we compared the average sale prices of homes in Union County towns from 2012 with sale prices in 2013.
Looked at another way, below we have each town represented by a bar indicating the increase or decrease in selling time.
How does this affect you? Call Team Zuhl for a free Comparative Market Analysis and find out what your home is worth today!