How Quickly will my Home Sell?

How quickly will my home sell is a question we get asked all the time from sellers. I get it. It’s actually the market climate that determines how quickly your home will sell. After being involved in hundreds of transactions here on the coast of NC, I get asked that question all the time. I’m Tara Powell with RE/MAX NC Coastal Team. How long will it take to sell your Carteret or Onslow county home? In a hot market where there is limited inventory, meaning there are more buyers than homes to purchase, it isn’t surprising to get offers within a few days. Although I highly recommend allowing our marketing the more time to properly expose your home to the masses. This way we can get the highest number of offers with the very best terms. But again, the market climate and the current activity levels always determines if you should allow more marketing time. If there are more homes on the market than buyers, then you can expect a longer time for the home to sell. We can discuss the timing and how quickly we think your home will sell when we meet with you. It’s really important to look at absorption rate in terms of pricing. Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which homes are sold in a specific market in a given period of time. It is calculated by dividing the number of homes sold in a specific time period by the total number of available homes. According to Investopedia, a seller's market would have an absorption rate that equals more than 20%, and a buyers market that’s lower than 15%. So for example, if there were 20 houses that sold last month and 100 available houses for sale now, that would be a 20% absorption rate and a seller’s market.