How long will it take to sell a home in the Phoenix Metro Area?

A seller recently asked me "How long do you think it will take to sell my home".  It was then that I realized my crystal ball was missing.

In a "normal" market I could usually predict pretty closely how long it would take for a particular home to sell based on location, condition and price.  But in today's Buyer's Market, it's a tough call.  Location and condition are still important criteria that indicate whether a home will sell or sit, however, PRICE has taken a much stronger role.  I now tell my sellers 3 things will sell their home...Price, Price and, yes...Price. 

A strong marketing program combined with the right price is key.  But what is the RIGHT price?  Well, if you have a great lot location, a desirable neighborhood and a pristine home, the right price may be just slightly less than the lowest priced home in your community.  That's a hard pill to swallow, but there are almost 60,000 active listings on our MLS.  Within that almost 60,000 listings are A LOT of beautiful homes. 

12 showings and you should receive an offer on your home.  However, today we have far fewer buyers than we have sellers.  That means fewer showings.  Now more than ever, time is the best indicator of the right price. If you don't have an offer on your home within 3 weeks of listing, you probably need to lower your price.  

The key is getting a home sold before our prices drop any further.  If the lowest priced home in your community is priced at $400,000, it might not be too long before that lowest priced home is $380,000 or less.  So, if you chase pricing that's on a downward spiral, you're not going to be as successful getting your home sold.  You have to get a jump on the competition.

If our market trend hangs on, your lower priced LISTING today may be the highest priced SALE in a couple months. 

Chandler Arizona Real Estate